A former Congressional candidate and partner of a convicted FTX executive, Michelle Bond, has been arrested on campaign finance charges. Bond, aged 45 from Potomac, Maryland, was granted release on $1 million bail following a quick court appearance in Manhattan federal court. She stands accused of conspiring with Ryan Salame, the former CEO of FTX Digital Markets, to commit unlawful campaign contributions during her unsuccessful Congressional campaign in 2022.
Salame had previously pleaded guilty to campaign finance and money-transmitting charges. Recently, he asked the court to invalidate his plea, alleging that prosecutors implied Bond would not face charges if he accepted the plea deal and resolved his case. In court documents, Salame reported fulfilling all aspects of his plea agreement, involving hefty fines, forfeiture, and restitution. He was sentenced to 8 1/2 years in prison in May. Salame identified Bond as his domestic partner and the mother of their 8-month-old child.
Bond has been charged with various offenses, including conspiracy to orchestrate illegal campaign contributions, receiving excessive campaign funds, and managing unlawful corporate contributions. Each count carries a potential prison sentence of up to five years. The indictment states that Bond and Salame established a bogus consulting agreement between Bond and FTX, granting her $400,000 shortly after launching her Congressional campaign. Allegedly, the funds were utilized to unlawfully finance her political campaign, with Salame sending additional funds to Bond between June and August 2022.
Although Salame held a senior position at FTX, he played a minor role in the prosecution of Sam Bankman-Fried earlier this year and did not testify against him. Seeking leniency at his sentencing, Salame claimed he cooperated with prosecutors, providing documents that aided in the prosecution of Bankman-Fried and himself.
Bankman-Fried, sentenced to 25 years in prison in March, was found guilty of defrauding numerous FTX customers before the platform’s collapse in November 2022.
