Sam Bankman-Fried’s Parents Seeks Presidential Pardon Over Son’s 25-Year Sentence

Speculation suggesting that disgraced FTX founder Sam Bankman-Fried could be a free man has emerged as his parents explore a White House executive pardon.

According to Bloomberg, SBF’s parents, Joseph Bankman and Barbara Fried, are exploring other possibilities for freeing their son. With a September 2024 ruling appeal looking tedious, the former Stanford Law School professors have turned their attention to pro-crypto US President Donald Trump.

The report, citing unidentified people familiar with the issue, uncovered that the high-caliber professors have met with lawyers and figures close to the president to establish contact with the White House. Specifically, Bankman and Fried are inquiring if Trump will be interested in granting their son a clemency.

A Ross Ulbricht-Inspired Ploy

Sam Bankman-Fried’s parents are particularly optimistic about the idea following Trump’s changing stance on digital assets. The 47th president grew lenient with the sector in his second term, juxtaposing his disposition towards Bitcoin in his first tenure.

Furthermore, Bankman and Fried draw inspiration from Trump’s pardon of Silk Road founder Ross Ulbricht. For context, the president fulfilled his campaign promises to overturn Ulbricht’s double life sentencing, announcing his pardon on January 22.

Meanwhile, the nature of Bankman-Fried’s case differs from Ulbricht’s. The disgraced former crypto mogul was indicted for fraud and high-level client extortion.

SBF’s Indictment

A federal court sentenced Sam Bankman-Fried to 25 years in prison after finding him guilty of seven charges, including wire fraud and securities fraud. The sentencing followed lengthy legal proceedings after FTX’s November 2022 implosion.

The exchange moved from a multi-billion-dollar firm to nothing, highlighting Sam Bankman-Fried’s mismanagement. Meanwhile, Binance’s efforts to salvage FTX fell through after due diligence.

Growing Pardon Request

Jeffrey Grant, a New York white-collar defendant, told Bloomberg that clemency filings from inmates have increased recently following Trump’s Ulbricht pardon. He stated that he has received at least 100 pardon inquiries recently.

Moreover, Sam Mangel, another white-collar consultant, also confirmed the growing optimism of a pardon among prisoners upon Trump’s inauguration. He also disclosed he is working on a couple of cases but received clear instructions within the Trump circle to avoid requests relating to sex crimes, violence, and illegal immigration.

Former FTX executive Ryan Salame is among those seeking a presidential pardon. Notably, he pleaded guilty to conspiracy charges and received a seven-year sentence.