Partner of ex-FTX exec hit with campaign finance charges

United States authorities have charged Michelle Bond, the partner of former FTX Digital Markets co-CEO Ryan Salame, with violations of campaign finance law.

In an indictment unsealed on Aug. 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.

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.

Michelle Bond’s indictment. Source: SDNY

Bond ran as a Republican to represent New York’s 1st Congressional District in 2022, but her campaign did not move beyond the party’s primary. The indictment detailed communications between Bond and her co-conspirator regarding receiving and reporting funds for her congressional run. 

Partner going to prison

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 Oct. 13. 

Related: Former FTX exec will give up real estate, car and $11M following guilty plea: Report

On Aug. 21, Salame’s lawyers filed a petition seeking to void his guilty plea, claiming that he had a verbal agreement with prosecutors that Bond would not be charged. He has a nine-month-old child with Bond and claimed authorities were “going to come at me and my loved ones again.”

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. She has been the CEO of consulting firm Capitol Advisory since 2023.

Former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison in March after a 2023 trial. His legal team has filed a notice of appeal.

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