- Judge rejects Michelle Bond’s immunity claim, allowing the FTX-linked campaign finance case to proceed.
- Prosecutors allege Bond used funds tied to Ryan Salame and FTX to support her 2022 House campaign.
- Bond faces four charges carrying up to five years each, while Salame is already serving prison time.
Michelle Bond, the wife of former FTX executive Ryan Salame, will face federal campaign finance charges after a judge rejected her attempt to dismiss the case.
A federal judge in Manhattan ruled that prosecutors never promised Bond immunity as part of Salame’s 2023 plea deal. The decision clears the way for what could be one of the final criminal cases linked to the collapse of FTX.
Judge Rejects Immunity Claim
Bond argued that prosecutors suggested she would not be charged if Salame pleaded guilty. However, Judge George Daniels found that there was “no ambiguity” in Salame’s written plea agreement.
According to the ruling, everyone involved understood that the government had not agreed to protect Bond from prosecution. Daniels also pointed to testimony from Bond’s former attorney, Gina Parlovecchio, who said she did not view prosecutors’ statements as a promise of immunity.
The ruling marks another chapter in the legal fallout from FTX’s collapse in 2022. The exchange’s failure triggered a wave of investigations and high-profile criminal prosecutions across the crypto industry.
Charges Tied to Congressional Campaign
Federal prosecutors charged Bond in August 2024. They allege that after she launched a campaign for a U.S. House seat in 2022, Salame arranged a consulting agreement between Bond and FTX that paid her $400,000.
Prosecutors claim Bond used those funds, along with hundreds of thousands of dollars that Salame allegedly transferred to her between June and August 2022, to help finance her congressional campaign.
The government also alleges that Bond tried to conceal the source of the money. Prosecutors further claim she made false statements to a congressional committee and the Federal Election Commission.
Salame Already Serving Prison Sentence
Salame, the former co-CEO of FTX Digital Markets in the Bahamas, was sentenced in May 2024 to seven and a half years in prison. He pleaded guilty to conspiracy to make illegal political contributions and operating an unlicensed money-transmitting business.
Bond faces four criminal counts, including conspiracy to cause unlawful political contributions, causing and receiving a straw-donor contribution, causing and accepting excessive campaign contributions, and an unlawful corporate contribution.
Each charge carries a maximum sentence of five years in prison. The case is expected to be one of the final major criminal proceedings arising from the FTX collapse and its aftermath.
Related: US Government Moves Another $349K in Seized FTX-Alameda Crypto
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
