Former Congressional Candidate Michelle Bond Charged in Illegal Campaign Finance Scheme Linked to FTX
Michelle Bond, who ran for Congress in 2022, faces charges for allegedly using $400,000 from a sham consulting agreement with a Bahamas-based cryptocurrency exchange to unlawfully finance her campaign. Prosecutors allege her partner, former FTX executive Ryan Salame, facilitated the scheme. Bond has declined to comment as her legal battle unfolds.
Because Bitcoin
August 22, 2024
The Block reported that Michelle Bond, a former congressional candidate, has been charged with allegedly participating in an illegal campaign finance scheme involving executives from a Bahamas-based cryptocurrency exchange. Damian Williams, U.S. Attorney for the Southern District of New York, announced the unsealing of Bond's indictment, which followed discussions between prosecutors and her partner, former FTX executive Ryan Salame.
Bond and Salame allegedly used $400,000 from a sham consulting agreement to unlawfully finance her 2022 campaign for New York’s 1st District, according to the indictment. Bond reported the payments as "consulting income" but later admitted in internal documents that the money was for her campaign.
Salame, who was sentenced to seven and a half years in prison in May after pleading guilty to campaign finance violations and conspiracy, sought to block Bond's indictment, accusing prosecutors of using plea negotiations to threaten her. However, prosecutors rejected his claims as "factually baseless."
Judge Lewis Kaplan has ordered Salame to respond to the government's arguments by September 10, with a hearing set for September 12. Prosecutors also noted Salame’s recent social media activity, criticizing his lack of remorse and contempt for the justice system. Bond has declined to comment on the charges.
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