Former FTX Exec Partner Charged With US Campaign Finance Violations
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The legal troubles surrounding former FTX executive Ryan Salame intensified as his partner, Michelle Bond, faces charges for violating U.S. campaign finance laws. Bond, who ran an unsuccessful congressional campaign in 2022, is accused of using funds linked to the now-defunct cryptocurrency exchange to finance her campaign. This latest indictment highlights the ongoing fallout from the collapse of the defunct exchange and the extensive reach of federal investigations into the company’s activities. Ex-FTX Partner Faces US Campaign Violation Charges Michelle Bond, 45, who previously worked with the cryptocurrency trade group Association for Digital Asset Markets, launched a campaign to represent New York’s 1st Congressional District in May 2022. Federal prosecutors allege that Bond accepted $400,000 from FTX through a “sham consulting agreement” arranged by Ryan Salame, a high-level executive at the exchange. Notably, these funds were then allegedly funneled into her campaign, in direct violation of laws prohibiting corporate contributions to political campaigns. The indictment, unsealed by federal prosecutors in Manhattan, also accuses Bond of receiving additional funds from Salame, which were wired to her personal account and used to further support her campaign efforts. Meanwhile, the charges against Bond include four criminal counts, such as causing and receiving unlawful contributions. These charges reflect the government’s ongoing scrutiny of FTX and its affiliates, even after the sentencing of the co-founder Sam Bankman-Fried to 25 years in prison for his role in a massive financial fraud. Bond’s legal challenges come at a time when her partner, Salame, is already serving a 7-and-a-half-year prison sentence for his involvement in illegal activities at the defunct exchange. In a recent court filing, Salame claimed that prosecutors had reneged on an agreement to drop any investigation into Bond if he pleaded guilty. However, the government dismissed these claims as false, leading to the unsealing of…
Filed under: News - @ August 23, 2024 6:17 am