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FTX Founder's Parents Seek Trump Pardon

Coin WorldThursday, Jan 30, 2025 5:58 pm ET

1min read

Sam Bankman-Fried's parents, Stanford Law School professors Joseph Bankman and Barbara Fried, have reportedly been exploring potential avenues to secure a presidential pardon for their son from former President Donald Trump. According to a Bloomberg News report, the couple has engaged in discussions with lawyers and individuals within Trump's orbit in recent weeks, although it remains unclear whether they have made direct outreach to the White House.

Sam Bankman-Fried, the 32-year-old former CEO of the cryptocurrency exchange FTX, was sentenced to 25 years in prison for fraud in March 2024. His parents' efforts to secure a pardon come as Trump has shown a willingness to use his pardon authority, including the recent commutation of Silk Road founder Ross Ulbricht's life sentence. This has sparked a surge in requests from high-profile white-collar criminals seeking similar relief.

Jeffrey Grant, a legal adviser for white-collar defendants, noted that he has received around 100 pardons-related inquiries. He said, "We have been hearing from people in prison, from people recently sentenced who haven’t yet reported to the Bureau of Prisons, from people who have just been indicted. They are looking for somebody who knows somebody." However, Sam Bankman-Fried does not currently enjoy the widespread support that Ulbricht had, and his 25-year sentence is seen as excessively harsh by some, particularly since many FTX customers have recovered most of their lost funds.

Another former FTX executive, Ryan Salame, who received a seven-year sentence, has also expressed interest in a presidential pardon. Sam Mangel, a white-collar prison consultant who has previously worked on clemency requests for Trump allies Steve Bannon and Peter Navarro, said he handles multiple cases and has received informal guidance that cases related to sex crimes, true crimes of violence, and illegal immigration cases will not be considered.

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