Nearly Three Years After FTX Collapse, Michelle Bond Returns to Court for Evidentiary Hearing
It has been almost three years since the collapse of the crypto exchange FTX, and the legal battles involving its executives and associates are still ongoing. This week, Michelle Bond, the spouse of former FTX Digital Markets co-CEO Ryan Salame, is set to appear in court for an evidentiary hearing in her criminal case.
In a recent filing in the US District Court for the Southern District of New York (SDNY), Bond’s legal team requested permission from a federal judge to allow her to testify, despite objections from prosecutors.
Prosecutors had argued that Bond’s testimony may not be relevant to Salame’s plea agreement, which involves allegations of campaign finance fraud. Salame is currently serving a prison sentence for his role in the collapse of FTX.
Bond’s case revolves around allegations of campaign finance violations, with prosecutors claiming that Salame directed $400,000 in FTX funds to her campaign. Bond faces charges of conspiracy to cause unlawful campaign contributions, accepting excessive campaign contributions, receiving unlawful corporate contributions, and receiving conduit contributions.
Her attorneys have argued that Bond’s testimony is crucial as it sheds light on her and her husband’s state of mind when entering into the plea agreement, which is directly relevant to the case.
Sunday filing by Michelle Bond’s lawyers. Source: Courtlistener
Salame, one of five defendants in the indictment of former FTX and Alameda Research executives, pleaded 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. He was sentenced to seven-and-a-half years in prison.
Following Salame’s guilty plea, his lawyers attempted to overturn the plea agreement, claiming it was contingent on not pursuing charges against Bond. However, he later dropped the complaint, stating that Bond would address the matter as part of her case.
Returning to Court After Months
The upcoming evidentiary hearing on Thursday will be Bond’s first court appearance in months, focusing on Salame’s deal with the government. Her legal team has also requested former Assistant US Attorney Danielle Sassoon to testify, who was the lead prosecutor in the case against Sam Bankman-Fried and other FTX executives.
Despite Sassoon’s resignation in February, Bond’s lawyers have requested her testimony on any promises or inducements made to Salame to plead guilty. The US Attorneys have not opposed the motion but have asked for documentary evidence or testimony related to the plea deal.
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