Michelle Bond faces charges over alleged use of FTX funds in 2022 congressional bid

Prosecutors allege Ryan Salame’s wife received $400,000 through a consulting agreement and additional hundreds of thousands of dollars to illegally finance her campaign.

Summary

Michelle Bond, the wife of former FTX executive Ryan Salame, is facing criminal charges over allegations that FTX-linked money was used to support her 2022 run for Congress. Prosecutors allege she obtained $400,000 through a consulting agreement with FTX and also received hundreds of thousands of dollars transferred by Salame, with the funds allegedly used to illegally finance the campaign. The case adds to the legal fallout from the collapsed crypto exchange and scrutiny over how company money may have been routed into U.S. politics.

Terms & Concepts
  • FTX: Collapsed crypto exchange that filed for bankruptcy in 2022.
  • consulting agreement: A contract for advisory services and related payment.
  • congressional bid: A campaign to win a seat in the U.S. Congress.