Former FTX Executive Ryan Salame Alleges the US Government Broke Its Promises After DOJ Charges His Partner

Former FTX executive Ryan Salame says the US government has walked back its promise not to charge his partner Michelle Bond.

Salame is the former co-CEO of FTX Digital Markets, the Bahamian subsidiary of the bankrupt crypto exchange.

Last year, the former executive pled guilty to conspiracy to make unlawful political contributions and defraud the Federal Election Commission, as well as conspiracy to operate an unlicensed money-transmitting business. In May, a judge sentenced Salame to 7.5 years in prison, and he’s due to report to prison in October.

But Salame says he cut a deal with the government and pled guilty to prevent further investigation against the mother of his child, Michelle Bond, a former Congressional candidate.

On Thursday, Damian Williams, the U.S. Attorney for the Southern District of New York, announced charges against Bond over alleged campaign finance violations related to her unsuccessful run for Congress in 2022.

Williams says in an indictment that Salame organized a sham $400,000 payment to Bond from FTX, which Bond allegedly used to fund her campaign.

In a new court filing, Salame’s lawyers claim the government used the former CEO’s plea negotiations to threaten Bond.

“In an effort to induce Salame’s plea, Government lawyers conveyed that they would discontinue investigating Bond if Salame pleaded guilty. Considering Salame’s manifest desire to protect Bond, Salame responded by agreeing to enter into a plea agreement. Yet the Government failed to abide by its word, recently resuming its investigation into Bond and pursuing an indictment against her. In this Circuit, when a defendant enters a plea in reliance ‘on a promise … of the prosecutor,’ ‘such promise must be fulfilled.’

Salame asks the court first to dismiss Bond’s indictment, but if that doesn’t happen, to dismiss his own conviction.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Follow us on X, Facebook and Telegram

Generated Image: Midjourney