Efforts by Sam Bankman-Fried’s Parents to Secure Presidential Clemency
The family of Sam Bankman-Fried, the co-founder and former CEO of the now-defunct cryptocurrency exchange FTX, is reportedly pursuing avenues to obtain a presidential pardon for their son from former President Donald Trump.
Strategic Moves for Clemency
Reports from Bloomberg suggest that Joseph Bankman and Barbara Fried, both Stanford Law School professors, have sought counsel from legal experts and have made connections within Trump’s close circle to discuss potential clemency for their son, who is currently serving a 25-year sentence for fraud-related charges.
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Historical Context of Trump’s Clemency Decisions
Trump’s history of granting pardons, especially in notable cases such as that of Ross Ulbricht, the founder of Silk Road, has sparked interest among individuals facing white-collar crime charges. However, unlike Ulbricht, whose case had substantial backing from the cryptocurrency community and libertarian supporters, Bankman-Fried appears to lack similar widespread advocacy.
Claims of Disproportionate Sentencing
Sam Bankman-Fried has contested the severity of his 25-year sentence, arguing that it is excessive, particularly since many FTX customers have reportedly regained their initial investments. Alongside Bankman-Fried, Ryan Salame, another former FTX executive who received a sentence exceeding seven years, is also seeking a pardon. This reflects a broader trend among those entangled in the FTX controversy.
Trump’s Evolving Pardon Strategy
The approach of former President Trump towards granting pardons seems to have evolved since his first term. Initially, most clemency actions were reserved for the end of his presidency. However, there are now reports suggesting that he is considering issuing pardons earlier, including for individuals from various political affiliations.
Political Dynamics and Common Challenges
Although Sam Bankman-Fried was a prominent donor to Democratic causes, Trump has demonstrated a willingness to aid Democrats who allege they are victims of political persecution. An intriguing aspect noted by Bloomberg is that both Bankman-Fried and Trump share a mutual adversary in US District Judge Lewis A. Kaplan. Judge Kaplan presided over Bankman-Fried’s trial and has also been involved in legal matters concerning Trump. Both Bankman-Fried and Trump have criticized Kaplan for perceived biases in their respective cases.
Legal Advocacy and Potential Outcomes
Renowned legal scholar Alan Dershowitz, who has previously assisted in securing clemency for several individuals during Trump’s first term, has reportedly been contacted for help regarding these cases. Although interest in presidential pardons is increasing, Dershowitz notes that Trump is presently preoccupied with other issues.
This pursuit of clemency by those associated with the FTX scandal highlights the complexities involved in the intersection of legal, political, and personal interests, as Bankman-Fried and his family navigate the challenging landscape of seeking a presidential pardon.
