A federal judge in the Southern District of New York has denied Michelle Bond’s motion to dismiss campaign finance charges connected to FTX. The ruling ensures the case proceeds to trial, maintaining allegations that illicit funds from Sam Bankman-Fried’s collapsed exchange financed her 2022 congressional campaign.
Bond faces four counts, including conspiracy to cause unlawful and excessive campaign contributions. Prosecutors allege her husband, former FTX Digital Markets co-CEO Ryan Salame, directed a $400,000 payment labeled as consulting fees to fund her Republican primary bid in New York’s 1st district. Each count carries a potential five-year prison sentence.
Salame pleaded guilty to related campaign finance crimes in September 2023 and received a 90-month sentence in May 2024. His plea agreement acknowledged directing political contributions across multiple races, suggesting Bond’s case is part of a broader pattern of FTX money entering American politics.
Defense attorneys argued for dismissal based on disputes over Salame’s plea deal, but the court rejected this motion. Legal proceedings are now expected to extend into late 2025. If convicted on all counts, Bond faces up to 20 years in prison, though sentencing guidelines typically result in shorter terms for campaign finance violations.