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Federal prosecutors are investigating the funds of former FTX govt Ryan Salame and former congressional candidate Michelle Bond. Their inquiry focuses on potential violations of federal campaign-finance legal guidelines throughout Bond’s 2022 marketing campaign for the GOP main in New York’s 1st Congressional District, The Wall Avenue Journal reported on July 11.
Within the investigation, authorities are investigating whether or not Salame and Bond illegally bypassed limits on federal contributions to Bond’s marketing campaign, particularly the cash Salame gave to Bond and the loans she prolonged to her marketing campaign.
Salame’s title additionally got here up in reference to the case in opposition to FTX founder Sam Bankman-Fried, who was charged with alleged theft of funds from FTX clients, marketing campaign finance fraud and different costs, though Salame has not been charged in any associated issues. FTX crash.
Whereas representatives for each Bond and Salameh declined to remark, the investigation started to assemble momentum in early April, when his Maryland residence was searched and his cell phones seized.
Previously the CEO of the Affiliation for Digital Asset Markets and a advisor for FTX, Bond entered the 2022 GOP main race late. Regardless of distinguished Republican help, Bond’s marketing campaign fell quick.
Nonetheless, it is her marketing campaign financing that is gotten consideration, with FEC filings displaying almost $660,000 in contributions, together with a big quantity from Salame and her personal funds:
“She raised a complete of $660,000 in contributions, together with greater than $54,000 from staff of Salame and FTX and Bankman-Fried’s crypto hedge fund. Bond contributed $145,309 to his personal marketing campaign and loaned him about $880,000, information present.
The 2022 election guidelines permit an individual to donate a most of $2,900 to a candidate’s main and normal campaigns, respectively, which means an individual can “contribute as much as $5,800 to a federal candidate.” In the meantime, candidates can contribute a vast quantity to their very own campaigns.
Bond’s ongoing divorce from Daniel Bond has raised extra questions, because the WSJ alleged that “Bond and Salameh have been relationship for over a 12 months.” Salamani’s deposit into Bond’s checking account is underneath investigation, investigating whether or not it was a covert method to enhance Bond’s marketing campaign as a result of:
“The choose overseeing the divorce in Might denied a request by Bond’s husband to query him about potential campaign-finance violations throughout a child-custody listening to, in keeping with case information.”
