Former co-CEO of FTX, Ryan Salame, has withdrawn his reconsideration of a guilty plea for violating campaign financing and money-transmitting laws while his former partner, Michelle Bond, faces criminal charges.
Charges Against Michelle Bond
On August 29, prosecutors unsealed an indictment against Michelle Bond, alleging she violated campaign financing laws during her 2022 congressional campaign. Salame responded to the unsealed documents by claiming the US Government would not investigate Bond for her alleged violations as part of his guilty plea.
Salame's Response to Charges
Salame's claims were called 'demonstrably false' by prosecutors, who opposed his motion. After withdrawing his petition, Salame's legal team told the court that Bond 'may raise the matter' of her partner's guilty plea in her case. 'Mr. Salame is withdrawing the Petition, however, to allow the facts to be developed by Ms. Bond, and a ruling to be made, in her case,' Salame's legal team said.
Details on the Illegal Payments Case
The campaign finance allegations against both Salame and Bond stem from prosecutors' claims that both used funds from the now-defunct FTX exchange to fund Bond's 2022 congressional campaign. The indictment charged Bond with conspiracy to cause unlawful campaign contributions, causing and receiving excessive campaign contributions, and several related violations. Following an unlawful $400,000 payment, Bond thanked Salame for 'paying that invoice,' according to the indictment. Bond was also accused of making false statements to the Federal Election Commission to conceal the source of the funds.
Ryan Salame has withdrawn his petition for reconsideration amid ongoing investigations into Michelle Bond's alleged illegal campaign funding. The case remains open, with more developments expected.
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