US authorities investigating former FTX executive for possible campaign finance violations: report

Prosecutors in New York are reportedly investigating Ryan Salame, former co-CEO of FTX Digital Markets, for possible violations of campaign finance law in the United States.

According to a July 11 report in The New York Times, Salame and his girlfriend Michelle Bond — a Republican candidate running to represent New York’s 1st congressional district in 2022 — may crossed over federal limits on contributions during his campaign. Authorities are reportedly investigating financial ties between Salame and Bond in connection with his congressional campaign, which did not advance past the Republican primary.

The investigation appears to be separate from federal charges leveled against other individuals associated with FTX and its subsidiaries since the exchange filed for bankruptcy in November 2022. Former FTX CEO Sam Bankman-Fried awaits two criminal trials over his role in the alleged crimes, while former Alameda Research CEO Carolyn Ellison and FTX co-founder Gary Wang pleaded guilty in December 2022 to fraud charges.

According to the Federal Election Commission (FEC), individuals can donate Up to $2,900 for the primary campaign of a candidate for federal office as well as up to $2,900 for the general election in 2022. FEC record Has shown Salame made two donations of $2,900 each to support Bond’s campaign for the primary election in Massachusetts, as well as two donations of $2,900 each for the general election. Bond personally contributed more than $145,000 and contributed more than $877,000 to his own campaign.

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Officials from the Federal Bureau of Investigation reportedly searched Salame’s residence in April. At the time of publication, he has not been charged with anything related to his tenure at FTX Digital Markets – the Bahamian arm of the exchange – where he served as co-CEO since December 2021.

Salame reported FTX to Bahamian authorities over the exchange sending user funds to Alameda Research. It is unclear what role he may play in the Bankman-Fried criminal trials scheduled to begin in October 2023 and March 2024.

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