A federal judge has refused to toss campaign finance charges against Michelle Bond, a figure tied to the collapsed cryptocurrency exchange FTX. The indictment accuses her of illegally funding campaign contributions linked to former FTX executive Ryan Salame. Bond's bid to dismiss the case relied on arguments about government promises made during Salame's own criminal proceedings, but the court wasn't having it.
The Campaign Finance Allegations
The charges in USA v. Bond, filed in the Southern District of New York, center on alleged unlawful funding of campaign contributions. Prosecutors say Bond used money connected to the FTX orbit — and to Salame — to support a political campaign. The exact amounts and recipients haven't been spelled out in public filings, but the case is part of the legal debris left after FTX's 2022 implosion.
Why the Dismissal Bid Failed
Bond's defense team argued that prosecutors had given certain assurances or understandings during Salame's own case, and those should extend to Bond. The judge didn't buy it. In a ruling this week, the court rejected the motion to dismiss, finding no legal basis to tie Salame's deal to Bond's case. The decision is procedural — it doesn't decide guilt or innocence. The government still has to prove its allegations beyond a reasonable doubt.
The Broader FTX Legal Fallout
FTX's collapse has spawned a wave of criminal and civil actions. Salame, a former top deputy to founder Sam Bankman-Fried, pleaded guilty last year to campaign finance and other charges. Bankman-Fried himself was convicted on fraud counts. Other executives have also struck plea deals. Regulators have brought their own cases. Bond's case is one of the remaining threads still moving through the courts.
For now, the charges stand. Bond will have to prepare for trial, unless the two sides reach a plea agreement. No trial date has been set. The next step is likely a status conference before the judge.
