DOJ Indicts Fiancée of Ex-FTX Executive on Campaign Finance Crimes

Michelle Bond, the fiancée of convicted former FTX executive Ryan Salame, was indicted on federal charges in New York, accused of illegally funneling funds from the now-bankrupt cryptocurrency exchange into her 2022 congressional campaign.

The indictment, unsealed on Thursday, painted a picture of a scheme where Bond allegedly received $400,000 from an unidentified, foreign-based exchange arranged by her “romantic partner” – a clear reference to Salame.

This payment, prosecutors claim, was disguised as consulting fees, but immediately funneled into Bond’s campaign spending. Subsequent payments from Salame allegedly followed, further fueling her campaign coffers.

Bond is also accused of deceiving the House Ethics Committee, the Federal Election Commission, and the board of her former organization about the true origins of the campaign funds.

“As alleged, Michelle Bond and her co-conspirator romantic partner attempted to fund her campaign for the U.S. House of Representatives by illegally using hundreds of thousands of dollars from corporate coffers, among other sources, and then lying to Congress and others to cover it all up. Misconduct by those campaigning for public office undermines public trust in American elections and in representative government more broadly. This Office is committed to holding elected officials and candidates accountable if they break the law,” U.S. Attorney Damian Williams said.

“Michelle Bond, a former congressional candidate, allegedly financed her campaign with illicitly obtained funds then made calculated efforts to conceal her misconduct, including lying to Congress about the deposits’ origin. Attempting to start a hopeful career in our government using unlawful transactions and lies erodes the integrity and credibility of our legislative system. Investigating all forms of corruption remains a top priority of the FBI, as those seeking to hold governing positions are expected to comport themselves honestly and transparently to preserve public confidence,” said, FBI Acting Assistant Director Christie M. Curtis.

She has been charged by federal prosecutors with one count of conspiracy to cause unlawful campaign contributions, one count of causing and accepting excessive campaign contributions, one count of causing and receiving an unlawful corporate contribution, and one count of causing and receiving a conduit contribution. Each of the crimes charged carries a maximum sentence of five years in prison.

Bond was released on a $1 million personal recognizance bond co-signed by another individual and was seen leaving the courthouse in lower Manhattan hand-in-hand with Salame earlier Thursday afternoon.

Ryan Salame, Bond’s fiance, is a former high-ranking executive at FTX, is set to begin serving a 7.5-year prison sentence on October 13. His conviction stemmed from a multimillion-dollar campaign finance scheme that unfolded during his time at the now-defunct cryptocurrency exchange.

Notably, Salame did not cooperate with prosecutors in the criminal trial of his former boss, Sam Bankman-Fried, who was sentenced to 25 years in prison for fraud and conspiracy in March. Salame’s sentence includes over $6 million in forfeiture and over $5 million in restitution. The charges against him highlight the broader corruption that plagued FTX and underscore the severity of the financial crimes that led to the exchange’s demise.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

Post Views: 315