Michelle Bond Charged in Campaign Finance Scheme Tied to FTX

Former congressional candidate Michelle Bond has been charged with participating in an unlawful campaign finance scheme linked to executives at a now-defunct cryptocurrency exchange based in the Bahamas. Damian Williams, the United States Attorney for the Southern District of New York, announced the unsealing of Bond’s indictment after deliberations between Bond’s partner, former FTX executive Ryan Salame, and prosecutors on whether she should be investigated.

Prosecutors allege that Bond, who ran unsuccessfully for a U.S. House seat in New York’s 1st district in 2022, used $400,000 in illicitly obtained funds to finance her campaign. According to the indictment, Bond's partner organized a "sham consulting agreement" with the exchange, and Bond received the funds under the guise of consulting income. However, internal communications show Bond acknowledging that the money was intended for her campaign.

Bond faces four counts, including conspiracy to cause unlawful campaign contributions, with each charge carrying a maximum sentence of five years in prison. In addition to the consulting fees, Bond's campaign also accepted contributions from the WinRed Super PAC, supported by Salame, though these are not part of the current charges.

Salame, who pled guilty to conspiring to make unlawful political contributions, has been vocal in his defense of Bond, accusing prosecutors of using plea negotiations to threaten her. Despite his efforts to block Bond’s indictment, prosecutors maintain that the investigation into her actions is independent of his plea agreement.

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