Manhattan federal judge George Daniels has denied Michelle Bond's motion to dismiss charges, allowing the case to proceed. Bond, the wife of former FTX executive Ryan Salame, allegedly used FTX funds to finance her 2022 congressional campaign and now faces four criminal counts, each punishable by up to five years in prison.
Prosecutors Allege $400,000 in Consulting Fees and Hundreds of Thousands in Transfers
According to the indictment, Bond received $400,000 from FTX through a consulting agreement, and Salame transferred an additional hundreds of thousands of dollars. Bond allegedly concealed the source of funds and made false statements to the Federal Election Commission. Bond had claimed prosecutors promised not to charge her in exchange for Salame's guilty plea, but the judge found no such promise in the plea agreement.
Former FTX Insider's 'First-Hand Evidence'
Ryan Salame, an early FTX employee, pleaded guilty in 2025 and provided key testimony about FTX's fund flows. His wife's campaign, while seemingly minor, is an extension of the same scheme. Bond ran for Congress in Florida's 5th District in 2022 and lost to the Republican candidate. The case reveals how FTX money moved from the Bahamas to Washington.
Parallel Cases: SBF's Aftermath Continues
FTX-related cases continue to unfold. In the past week: two bipartisan senators introduced a resolution opposing a presidential pardon for SBF; New York Magazine reported that SBF takes antidepressants in prison and has created a 'vegan prison cookbook'; and FTX's $200,000 stake in Cursor, sold in 2023, is now worth $3 billion after SpaceX's acquisition.
Even though FTX's main trial concluded in 2025, related cases are still impacting the landscape into mid-2026. If this is the last criminal trial tied to the FTX collapse, the countdown to closing the chapter has begun.