Bond’s Indictment Reveals New Details in FTX Collapse Probe

• Michelle Bond faces indictment for accepting illegal campaign donations during her 2022 congressional run.
• Ryan Salame’s recent motion alleges prosecutors broke an agreement regarding Bond’s investigation.
• The charges add complexity to the federal probe into FTX’s collapse and its associates.

Michelle Bond, the girlfriend of former FTX executive Ryan Salame, was charged Thursday with campaign finance violations as per Bloomberg reports. The indictment was unsealed just a day after Salame asked a judge to either dismiss his conviction or stop Bond’s indictment.

Federal prosecutors in Manhattan allege that Bond, who is also the mother of Salame’s eight-month-old child, took illegal contributions during her unsuccessful 2022 congressional campaign. These charges deepen the ongoing investigation into the FTX collapse.

Salame filed a motion recently claiming that prosecutors broke a previous agreement to cease any investigation into Bond if he pleaded guilty. The government dismissed Salame’s allegations as false and self-serving.

The indictment details how Bond, a Maryland resident, launched a campaign in May 2022 to represent New York’s 1st Congressional District. Prosecutors claim Salame, described as a high-ranking executive at a now-bankrupt cryptocurrency exchange, set up a “sham consulting agreement” with FTX that channeled $400,000 to Bond.

Moreover, the indictment states that Bond used these funds to unlawfully finance her campaign. Additionally, Salame allegedly wired hundreds of thousands of dollars to Bond’s personal bank account, which she also used to support her congressional bid. The pair reportedly discussed how Salame would cover her campaign expenses.

Bond, the CEO of the Digital Future think tank, started a project in July to educate and register voters in key swing states, with the goal of supporting pro-cryptocurrency candidates. Digital Future and Bond’s legal team have not yet commented on the indictment.

Bond is scheduled to appear in a Manhattan court Thursday afternoon. This legal action follows an April 2023 FBI raid on the Maryland home Bond shared with Salame. Salame, who pleaded guilty in September, received a 7 years and 6 months prison sentence for his involvement in illegal activities at FTX before its collapse. 

The charges against Bond highlight the widespread consequences of the federal investigation into FTX and its associates. As the case progresses, the legal fallout could expand, keeping a spotlight on those connected to the once-prominent cryptocurrency platform.