• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Ex-Ripple Executive Faces Campaign Finance Fraud Charges

user avatar

by Giorgi Kostiuk

2 years ago


  1. Charges Against Michelle Bond
  2. Salame's Requests for Government Deal
  3. Salame's Fate After Charges

  4. Michelle Bond, a former Ripple executive and ex-candidate for the U.S. Congress, is charged with violating campaign finance laws. The case details include false testimonies and funding from a cryptocurrency exchange.

    Charges Against Michelle Bond

    Michelle Bond, partner of former FTX executive Ryan Salame, lost the 2022 Republican primary for a New York congressional seat. She is accused of taking about $400,000 from the cryptocurrency exchange where her partner served as an executive to fund her political campaign, violating corporate contribution laws. During her campaign to represent New York’s 1st Congressional District in May 2022, Bond falsely testified about the source of the funds to the House Ethics Committee and the Federal Election Commission.

    Salame's Requests for Government Deal

    Ryan Salame recently claimed that prosecutors failed to honor a deal to drop any investigations of Bond if he agreed to plead guilty. Salame stated, 'A significant factor in my accepting the plea was the understanding that the government would not pursue campaign-finance charges against Bond.' In response, prosecutors described his claims as false. An anonymous source confirmed that prosecutors never offered Salame a cooperation deal. Salame pleaded guilty to making millions of dollars in unlawful campaign contributions aimed at boosting causes endorsed by FTX founder Sam Bankman-Fried.

    Salame's Fate After Charges

    Following the collapse of FTX, Salame received a 7.5-year prison sentence, while Bankman-Fried was sentenced to 25 years. Bond, former Global Head of Government Relations at Ripple Labs, is facing four criminal charges. The Department of Justice accuses her of causing and accepting unlawful contributions and causing and receiving a straw contribution. It remains unclear if her sentence will be as harsh as Salame's or Bankman-Fried's or if she will secure a more lenient plea deal. It’s worth noting that Salame may delay his prison term due to injuries sustained from a dog attack, with his surrender date moved to October 13.

    Currently, Michelle Bond and her partner Ryan Salame are under investigation for various campaign finance violations. The outcome of these cases could significantly impact both the political and cryptocurrency industries.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Zcash Surges to New High as Institutional Interest Grows

chest

Zcash (ZEC) has surged to a new year-to-date high of 590, driven by significant institutional investment from Multicoin Capital.

user avatarTenzin Dorje

Sabadell Joins European Banking Consortium for Stablecoin Initiative

chest

Spanish bank Sabadell has joined the Qivalis consortium aimed at launching a Europe-pegged stablecoin.

user avatarBayarjavkhlan Ganbaatar

Ripple CEO Highlights Critical Hearing for CLARITY Act's Future

chest

Ripple CEO Brad Garlinghouse emphasizes the importance of the upcoming Senate Banking Committee hearing for the CLARITY Act's progress.

user avatarMohamed Farouk

Bitcoin Holds Steady Above 80,000 as Market Recovery is Tested

chest

Bitcoin's price remains above 80,000, indicating a recovery from March lows, with differing behaviors observed among large holders.

user avatarElias Mukuru

Gerstein Harrow LLP Files Restraining Notice Over Ethereum Linked to Kelp DAO Hack

chest

Gerstein Harrow LLP has filed a restraining notice in a New York district court, claiming legal rights to approximately 30,766 Ethereum frozen after the Kelp DAO hack.

user avatarDiego Alvarez

Aave Takes Legal Action to Release Frozen Ethereum in Kelp DAO Hack Case

chest

Aave has filed an emergency motion in a New York district court to vacate a restraining notice blocking the Arbitrum DAO from accessing approximately 30,766 Ethereum frozen after the Kelp DAO hack.

user avatarKenji Takahashi

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.