Michelle Bond Charged With Illegally Funding Her 2022 Campaign Using FTX Cash

Crypto promoter Michelle Bond has been charged with four campaign finance law violations by US authorities for allegedly funding her 2022 campaign using FTX cash.

An indictment unsealed on Aug. 22 in the US District Court for the Southern District of New York shows that US Attorney Damian Williams accused Bond and an unnamed co-conspirator of illegally funding her 2022 campaign for a seat in the US House of Representatives.

Unnamed Co-Conspirator Description Points To FTX Exec

Prosecutors charged Bond with conspiracy to cause unlawful campaign contributions, as well as causing and receiving unlawful campaign contributions, excessive campaign contributions, and a conduit contribution. 

Bond allegedly arranged an illegal $400K payment. “I just wanted to say thank you so much for paying that invoice…really appreciate this, means a lot,” Bond wrote in a text to partner and former FTX Digital Markets co-CEO Ryan Salame, according to the indictment. 

My story looking at former congressional candidate Michelle Bond's campaign $$$ and ties to FTX in 2022 (before the exchange collapsed) was mentioned in her indictment that was unsealed today –>https://t.co/2qG82NXFkt pic.twitter.com/kfgBrMycdn

— Stephanie Murray (@stephanie_murr) August 22, 2024

Although the co-conspirator was not named in the indictment, the document mentions that the person is Bond’s “romantic partner” and a ”high-level executive at a now-defunct cryptocurrency exchange.”

This likely refers to Salame, who has a child with Bond and was often featured with her during her failed Republican campaign.

Prosecutors also accused Bond of making false statements to the Federal Election Commission and a congressional committee to conceal the true source of the funds.

Prosecutors Argue Virtually All Of Michelle Bond’s $1.5 Million Campaign Raise Was From FTX

Bond raised over $1.5 million during her campaign, according to records from the Federal Election Commission. 

However, the indictment argues that almost all of the funding came from either Salame or FTX, which violates election rules for self-funded candidates. 

After the allegations emerged, Bond resigned as the CEO of the Association for Digital Asset Markets (ADAM).

Towards the end of 2023, Salame pleaded guilty to conspiracy to operate a money-transmitting business without a license and engaging in campaign finance fraud. A federal judge sentenced the former FTX executive to 7.5 years in prison. 

On Aug. 21, lawyers representing Salame filed a petition asking to void his guilty plea. Salame claims that he and prosecutors reached a verbal agreement that Bond would not be charged in exchange for his plea.

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