United States authorities have charged Michelle Bond, the partner of former FTX Digital Markets co-CEO Ryan Salame, with violations of campaign finance law.
Charges Against Michelle Bond
In an indictment unsealed on August 22 in the US District Court for the Southern District of New York, US Attorney Damian Williams alleged Bond and an unnamed co-conspirator illegally funded her run for the US House of Representatives in 2022. Prosecutors charged Bond with conspiracy to cause unlawful campaign contributions, causing and accepting excessive campaign contributions, causing and receiving an unlawful corporate contribution, and causing and receiving a conduit contribution.
Legal Consequences for Partner
The unnamed co-conspirator — Bond’s “romantic partner” and a “high-level executive at a now-defunct cryptocurrency exchange,” likely referring to Salame — allegedly arranged a $400,000 payment from the firm to Bond. Prosecutors alleged she made false statements to the Federal Election Commission and a congressional committee to conceal her and her co-conspirator’s conduct.
Other Legal Issues
In September 2023, Salame pleaded guilty to conspiracy to operate an unlicensed money-transmitting business and engaging in campaign finance fraud. A federal judge sentenced the former FTX executive to 7.5 years in prison, where he is scheduled to report on October 13. Amid Salame’s legal troubles, Bond launched a crypto-focused think tank to help create a “favorable regulatory environment” for financial technology, digital assets, and artificial intelligence.
The charges against Michelle Bond and her partner Ryan Salame highlight potential risks and issues associated with campaign finance and activities in the cryptocurrency market.
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