FTX Collapse: Michelle Bond to Testify in Court Amid Husband Ryan Salame’s Plea Deal
Almost three years after the collapse of cryptocurrency exchange FTX, the legal proceedings against its former executives continue to unfold. This week, Michelle Bond, the spouse of former FTX Digital Markets co-CEO Ryan Salame, is set to return to court for a hearing on her criminal case. Bond’s legal team has requested that a federal judge allow her to testify despite objections from prosecutors.
The prosecutors argued that Bond’s testimony is unlikely to be relevant to Salame’s plea deal, which involves allegations of campaign finance fraud. Salame is currently serving a 7.5-year prison sentence for his role in the downfall of FTX. However, Bond’s lawyers claim that her testimony is crucial in understanding the circumstances surrounding Salame’s plea agreement.
Salame’s plea deal is at the center of Bond’s case, which involves alleged violations of campaign finance laws. Prosecutors claim that Salame ordered $400,000 in FTX funds to be sent to his campaign. Bond was charged with making illegal campaign contributions, exceeding campaign contribution limits, and accepting and facilitating an illegal corporate contribution in August 2024. She has pleaded not guilty to all charges.
Bond’s lawyers argue that her testimony is essential in determining the relevance of Salame’s plea agreement to her case. “The government has no reason to prevent Ms. Bond from testifying because her testimony is neither cumulative nor irrelevant,” they stated. “Ms. Bond’s and her husband’s state of mind in entering into the plea agreement are relevant to the issues before the court.”
Sunday filing by Michelle Bond’s lawyers. Source: Court listener
Salame’s Plea Deal and Campaign Finance Allegations
Salame, one of five defendants involved in the indictment of former FTX and Alameda Research executives, pleaded guilty to conspiracy to make illegal political contributions and to cheat the Federal Election Commission. He was sentenced to 7.5 years in prison and reported to prison in October 2024.
After Salame’s guilty plea, his lawyers attempted to withdraw his contract with US prosecutors, claiming that the agreement was contingent on not pursuing criminal charges against Bond. However, he eventually dropped the complaint and stated that Bond would address the matter as part of her case.
Bond’s Upcoming Court Appearance
The planned hearing on Thursday will mark Bond’s first return to court with the government after months of submitting to Salame’s contract. In addition to requesting that Bond be allowed to testify, her lawyers have also asked to call former deputy US attorney Danielle Sassoon as a witness. Sassoon was the lead prosecutor in the government’s case against former FTX CEO Sam Bankman-Fried and four other executives, including Salame.
Although Sassoon resigned in February after the Department of Justice instructed her to drop a case against New York City Mayor Eric Adams, Bond’s lawyers have requested that she testify about any “promises or incentives” made to Salame in exchange for his guilty plea. The US attorneys did not oppose the application but asked that Bond’s lawyers provide “documentary evidence” or statements related to the plea deal.
For more information on the FTX case and its ongoing developments, visit https://cointelegraph.com/news/ftx-ryan-salame-plea-deal-michelle-bond-court?utm_source=rss_feed&utm_medium=rss_tag_regulation&utm_campaign=rss_partner_inbound
