Michelle Bond, Ryan Salame’s companion and FTX beneficiary, is currently under legal scrutiny.
Michelle Bond, a former executive at Ripple Labs, has been accused of violating campaign finance laws. She is a mother and a former US congressional candidate. Her LinkedIn profile indicates that she was employed at the Association for Digital Asset Markets from 2020 to 2022.
In 2022, Bond, who was previously associated with Ryan Salame, an ex-FTX executive, was unsuccessful in his bid to represent Long Island in Congress in the Republican primary. Her unsuccessful campaign for the New York Congressional seat resulted in the current allegations, which trace back two years.
She is purportedly responsible for withdrawing approximately $400,000 from the cryptocurrency exchange where her spouse was an executive. Bond, as per reports, violated the laws prohibiting corporate contributions by utilizing this fund to finance her political campaign.
For additional context, the 45-year-old woman initiated her campaign to represent New York’s 1st Congressional District in May 2022. According to the filing, Salame, a senior executive at “a cryptocurrency exchange that is now defunct,” facilitated a “phony consulting agreement” with FTX that awarded Bond $400,000.
Bond’s deception regarding the source of the funds to the House Ethics Committee and the Federal Elections Commission was particularly noteworthy following their receipt. She denied any involvement with FTX or related entities at the time of the indictment’s filing.
Salame recently disclosed in a filing that prosecutors had neglected to comply with an agreement to discontinue any investigation of Bond in exchange for his guilty plea. Salame declared,
“The government’s assurance that it would not pursue the campaign-finance allegations against Bond if I accepted the plea arrangement was a significant factor in my decision. I accepted the government’s word.”
The government responded by characterizing Salame’s assertions as false and self-serving. Attorneys never presented Salame with a cooperation agreement, according to an anonymous source.
It is important to mention that the former executive of Ripple and FTX pleaded guilty to producing millions of dollars in illicit campaign contributions. Sam Bankman-Fried, the proprietor of FTX, contributed the majority of these contributions to organizations that he supported.
Salame was subsequently sentenced to 7.5 years in prison for his involvement in the collapse of FTX, while Bankman-Fried was sentenced to 25 years. Bond was the Global Head of Government Relations at Ripple Labs at one time. She is currently facing approximately four criminal charges.
Causing and receiving an unlawful contribution and causing and receiving a straw contribution are among the charges brought by the Department of Justice. It is still uncertain whether Bond will be sentenced to a sentence as severe as Salame’s or Bankman-Fried’s, or whether she will also receive a lenient plea agreement.
It is important to mention that Salame may not begin his sentence as previously determined in response to a recent dog attack. As per the initial arrangements, he is required to report to prison on August 29. In June, while visiting, his friend’s German Shepherd attacked him.
Also Read: Australian regulatory authority declares victory over Kraken’s Bit Trade in federal court
Wallets