Just In: Sam Bankman-Fried Parents Seek Trump’s Pardon For FTX Founder
Highlights
- Sam Bankman-Fried’s parents are seeking a pardon from Trump after his 25-year fraud conviction.
- Past Trump pardons raise hopes, but Bankman-Fried lacks broad public support compared to high-profile cases like Ross Ulbricht.
- His legal team has filed an appeal, while advisors report a rise in clemency requests for white-collar crimes under Trump’s presidency.
The parents of FTX co-founder Sam Bankman-Fried have reportedly sought legal advice on securing a presidential pardon for their son from Donald Trump. Joseph Bankman and Barbara Fried, both Stanford Law School professors, have held meetings with legal professionals and individuals connected to Trump’s circle regarding potential clemency.
Their efforts come after Sam Bankman-Fried was sentenced to 25 years in prison for fraud related to the collapse of the cryptocurrency exchange FTX.
Sam Bankman-Fried’s Parents Meet Lawyers to Secure Trump’s Pardon
According to a Bloomberg report, Sam Bankman-Fried’s parents are exploring ways to secure a pardon from Donald Trump. They have met with lawyers and other individuals linked to Trump’s network.
These discussions focused on the possibility of obtaining clemency for their son. However, there was confirmation of any direct outreach to the White House.
Notably, during his presidency, Donald Trump granted pardons to several high-profile individuals. The case of Ross Ulbricht, founder of Silk Road, has been a key reference point for those seeking similar relief. Ulbricht, convicted of drug trafficking and money laundering, received a strong push from the crypto community for clemency.
Last week, the Silk Road founder was granted a full pardon by President Donald Trump after serving 11 years in prison. The decision, announced on Trump’s Truth Social platform, fulfilled his campaign promise and sparked widespread debate.
However, unlike Ulbricht, Sam Bankman-Fried does not currently have widespread public support advocating for a pardon. However, he has argued that his 25-year sentence was excessive, citing that most FTX customers have recovered their funds. Some legal experts believe this claim could be a factor in potential clemency discussions.
Legal Consultants Receive Clemency Requests
Jeffrey Grant, a legal advisor specializing in white-collar cases, reported a surge in clemency requests. He noted that individuals recently sentenced or awaiting prison terms have been seeking legal pathways for potential pardons.
The legal advisor stated,
“We have been hearing from people in prison, from people recently sentenced who haven’t reported to the Bureau of Prisons yet, from people who have been indicted. They are looking for somebody who knows somebody.”
White-collar prison consultant Sam Mangel has also confirmed working on several clemency cases. He stated that guidance from Trump’s inner circle suggested avoiding cases involving violent crimes, sex offenses, or illegal immigration.
Conviction and the Path Forward
Sam Bankman-Fried was convicted in 2023 on fraud charges related to the downfall of FTX. He was sentenced to 25 years for misleading investors and mismanaging funds. His legal team has filed an appeal, but a pardon from Donald Trump could provide an alternative route for his release.
While Trump has previously issued pardons outside the formal Justice Department process, it remains uncertain if Sam Bankman-Fried will receive the same consideration. His parents’ legal efforts continue as they explore all possible options for clemency.
Meanwhile, apart from pardoning Silk Road’s Ross Ulbricht, President Donald Trump has continued to fulfill his campaign promises. Recently, the US president signed an executive order to develop a national digital asset stockpile, reinforcing his commitment to crypto and AI. The order establishes a crypto working group led by AI and Crypto Czar David Sacks to oversee regulations and industry engagement.
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