Ex-FTX Exec’s Plea Deal Still at the Center of Court Case
Nearly three years after the collapse of crypto exchange FTX, courtroom battles tied to its executives and their associates are still unfolding. This week, Michelle Bond, spouse of former FTX Digital Markets co-CEO Ryan Salame, will return to court for an evidentiary hearing in her criminal case.
In a Sunday filing in the US District Court for the Southern District of New York (SDNY), Bond’s legal team requested that a federal judge allow her to testify despite prosecutors’ objections.
Prosecutors had argued Friday that it was unlikely Bond could offer testimony relevant to Salame’s plea agreement involving allegations of campaign finance fraud. He’s currently serving time in prison for his role in the company’s downfall
Salame’s plea deal sits at the heart of her case over alleged campaign finance violations. Prosecutors allege that Salame ordered $400,000 in funds tied to FTX sent to her campaign.
Bond was charged with conspiracy to cause unlawful campaign contributions, causing and accepting excessive campaign contributions, causing and receiving an unlawful corporate contribution, and causing and receiving a conduit contribution in August 2024. She pleaded not guilty to all charges.
“The government has no grounds to pre-emptively bar Ms. Bond from testifying because her testimony is neither redundant nor irrelevant,” said her attorneys. “Ms. Bond’s and her husband’s state of mind in entering into the plea agreement are directly relevant to the issues before the Court […]”
As one of five defendants included in the indictment of former FTX and Alameda Research executives, Salame pleaded guilty to conspiracy to make unlawful political contributions and defraud the Federal Election Commission and conspiracy to operate an unlicensed money transmitting business.
He was sentenced to seven-and-a-half years in prison, where he reported in October 2024.
After Salame’s guilty plea, his lawyers attempted to vacate his deal with US prosecutors, claiming that the agreement was contingent on them not pursuing criminal charges against Bond. He ultimately dropped the complaint, saying that Bond would address the matter as part of her case.
Related: Judge questions if ex-FTX exec perjured himself in guilty plea
Returning to court after months
The scheduled Thursday evidentiary hearing will mark the first time Bond will return to court after months of filings centered on Salame’s deal with the government.
In addition to Bond potentially taking the stand, her lawyers requested that former Assistant US Attorney Danielle Sassoon testify. Sassoon was the lead prosecutor in the government’s case against former FTX CEO Sam Bankman-Fried and four other executives, including Salame.
Though Sassoon resigned in February after the Justice Department directed her to halt a case against New York City Mayor Eric Adams, Bond’s lawyers asked that she appear to speak on “any promise or inducement made to Mr. Salame to plead guilty.”
The US Attorneys have not opposed the motion, but asked that Bond’s lawyers provide “documentary evidence” or testimony related to the plea deal.
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