Former FTX-Linked Politician Faces Campaign Finance Charges

Michelle Bond, partner of former FTX executive Ryan Salame, has been indicted for allegedly violating U.S. campaign finance laws, according to documents unsealed on August 22. Bond, who previously ran for Congress in New York, is accused of financing her unsuccessful 2022 campaign with illicit funds from a crypto exchange based in the Bahamas.

The indictment, presented by Damian Williams, the United States Attorney for the Southern District of New York, claims that Bond funneled at least $400,000 into her campaign through what has been described as a “sham consulting agreement.” At the time, Bond was in a relationship with Salame, who was an executive at FTX, a cryptocurrency exchange embroiled in its own legal troubles. FTX, founded by the now-incarcerated Sam Bankman-Fried, faced similar accusations of violating campaign finance laws.

Federal prosecutors allege that Bond admitted to the exchange’s involvement in funding her campaign during a Trade Group board meeting. FBI Acting Assistant Director Christia M. Curtis further charged that Bond intentionally misled Congress about the origins of the funds and employed various tactics to conceal the illegal contributions.

The indictment against Bond emerges in the wake of Salame’s ongoing legal battles. Recently, Salame accused the government of reneging on a plea deal that allegedly included provisions to cease investigations into Bond. After pleading guilty to conspiracy charges in September 2023, Salame was sentenced to seven and a half years in prison. He now seeks to challenge his sentence or to secure the dismissal of the charges against Bond.

Prosecutors have criticized Salame’s public statements following his sentencing, particularly his social media posts, as evidence of his “complete lack of remorse.” In these posts, Salame accused fellow FTX executives Caroline Ellison and Nishad Singh of lying to secure more favorable plea deals. On August 21, prosecutors underscored these remarks to highlight Salame’s ongoing disregard for the law.

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