Ex-FTX Exec Withdraws Guilty Plea, Refers Case to Partner’s Proceedings

August 30, 2024 07:58 PM AEST | By Team Kalkine Media

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Ex-FTX Exec Withdraws Guilty Plea, Refers Case to Partner’s Proceedings — Image source: shutterstock

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The former co-CEO of {FTX} Digital Markets, has withdrawn his petition to overturn his guilty plea related to campaign finance and money-transmitting violations. This decision, communicated in a filing to the United States District Court for the Southern District of New York on August 29, comes as Salame’s legal team indicated that his partner, Michelle Bond, may address these issues in her ongoing legal proceedings.

Salame, who was sentenced to 90 months in prison in May 2024 after pleading guilty to two felony charges in September 2023, initially sought to vacate his plea through a writ of error coram nobis. This petition, filed on August 21, aimed to challenge both the guilty plea and the imposed sentence. Salame’s prison reporting date, initially set for August 29, was delayed due to medical complications from a dog bite. He is now scheduled to report on October 13.

The legal motion was based on Salame’s claim that the U.S. government had agreed not to pursue an investigation against Bond if he accepted a plea deal. However, prosecutors disputed these claims as "demonstrably false," arguing against the motion to vacate the plea.

Bond, who is also facing charges for campaign finance violations related to her 2022 congressional campaign, has pleaded not guilty. The indictment against Bond, unsealed on August 22, alleges that she and Salame conspired to use FTX-related funds for her campaign, although she did not progress past the Republican primary.

Salame’s petition to vacate was seen as an attempt to disentangle his case from Bond’s, which involves similar allegations. The two were involved in a romantic relationship starting in June 2021 and share a nine-month-old child. Both individuals were free on bail, set at $1 million each, and had their travel documents surrendered.

The cases of Salame and Bond are interlinked, with Bond’s legal outcomes potentially influencing the adjudication of Salame’s case.

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