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Federal prosecutors are delving into the financials of Ryan Salame, a former government of FTX, and Michelle Bond, a earlier congressional candidate. Their inquiry focuses on a possible infringement of federal campaign-finance legal guidelines throughout Bond’s 2022 marketing campaign for the GOP major in New York’s 1st congressional district, The Wall Road Journal reported on July 11.

On this investigation, authorities are analyzing if Salame and Bond unlawfully bypassed federal contribution limits to Bond’s marketing campaign, particularly to the cash given by Salame to Bond and loans she prolonged to her marketing campaign.

Salame’s identify additionally surfaced within the context of the case against FTX founder Sam Bankman-Fried, who has been charged with the alleged theft of funds from FTX customers, marketing campaign financing fraud and different costs, but Salame has not been charged with something related to the FTX crash.

Whereas each Bond and Salame’s representatives have declined to remark, the investigation began to assemble momentum as early as April, when the probe led to searches of their Maryland residence and the seizure of their cell phones.

Previously the CEO of the Affiliation for Digital Asset Markets and a advisor for FTX, Bond was a late entrant into the 2022 GOP major race. Regardless of outstanding Republican endorsements, Bond’s marketing campaign fell brief.

But, it’s the financing of her marketing campaign that has drawn consideration, with FEC filings displaying virtually $660,000 in contributions, together with important sums from Salame and her personal funds:

“She raised a complete of almost $660,000 in contributions, together with greater than $54,000 from Salame and workers of FTX and Bankman-Fried’s crypto hedge fund. Bond contributed $145,309 to her personal marketing campaign and lent it almost $880,000, data present.”

The 2022 election guidelines enable a person to donate a most of $2,900 to a candidate’s major and normal campaigns, respectively, which means somebody can “contribute as much as $5,800 to a federal candidate.” In the meantime, candidates can contribute limitless quantities of their very own cash to their very own campaigns.

Bond’s ongoing divorce from Daniel Bond has raised additional questions, because the WSJ alleged that “Bond and Salame have dated for greater than a 12 months.” Salame’s deposits into Bond’s checking account are underneath scrutiny, probing in the event that they have been a covert approach of bolstering Bond’s marketing campaign as a result of:

“In Could a choose overseeing the divorce denied a request by Bond’s husband to query her about potential campaign-finance violations throughout a child-custody listening to, in response to data within the case.”

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