Former FTX Digital Markets co-CEO Ryan Salame is reportedly under investigation by New York prosecutors for potential violations of US campaign finance laws. The investigation centers on whether Salame and his girlfriend, Michelle Bond, who ran as a Republican candidate for New Y ork's 1st Congressional District in 2022, exceeded federal donation limits during the campaign. Authorities are examining the financial ties between Salame and Bond's handling of her congressional campaign, which has not gone beyond the Republican primary.
The investigation into Salame is distinct from the federal charges faced by other individuals associated with FTX and its subsidiaries following FTX's bankruptcy filing in November 2022. Former FTX CEO Sam Bankman-Fried awaits two criminal trials related to alleged crimes, while Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty to fraud charges in December 2022. Salame, who has been the co-CEO of FTX Digital Markets since December 2021, has not faced any charges related to his tenure at the company.
According to the Federal Election Commission (FEC), individuals can contribute a maximum of $2,900 to primary elections and $2,900 to the general election for candidates running for federal office. FEC records show that Salame made two donations of $2,900 each to sup port Bond's primary election campaign and two contributions of $2,900 each for the general election. Bond herself donated over $145,000 and provided more than $877,000 in loans to her campaign. In April, FBI officers reportedly conducted a search of Salame's home.
The extent of Salame's involvement in the upcoming criminal trial of Sam Bankman-Fried, scheduled for October 2023 and March 2024, remains unclear. Salame had reported to Bahamian authorities that FTX had transferred user funds to Alameda Research. certain whether Salame will face any charges related to his actions at FTX Digital Markets.
