The parents of Sam Bankman-Fried, the former CEO of the now-defunct FTX cryptocurrency exchange, are reportedly maneuvering to secure a presidential pardon for their son from Donald Trump.
Joseph Bankman and Barbara Fried, both esteemed professors at Stanford Law School, have allegedly engaged in discussions with legal experts and individuals within Trump's circle to advocate for clemency for Bankman-Fried.
As reported by Breitbart, Bankman-Fried was sentenced to 25 years in prison last March after being found guilty on multiple charges, including five counts of conspiracy and two counts of wire fraud. Despite the severity of his sentence, Bankman-Fried argues that it is excessively harsh, pointing out that FTX customers have largely recouped their losses. Ryan Salame, another former executive at FTX, is also seeking a pardon after receiving a sentence exceeding seven years.
The quest for clemency may be complicated by allegations that Bankman-Fried's parents "exploited their access and influence" to profit from FTX. The couple's involvement with the company, along with the benefits they enjoyed before its collapse, has led to a civil lawsuit filed by the bankrupt entity. The lawsuit accuses them of "fraudulently transferring and misappropriating funds" and claims that Fried played a role in directing substantial political donations on behalf of her son.
FTX's legal action against Bankman and Fried seeks to recover millions of dollars allegedly received by the couple. The company asserts that the professors "exploited their access and influence within the FTX enterprise to enrich themselves," further complicating their son's bid for clemency.
Sam Mangel, a consultant specializing in white-collar prison cases, is reportedly assisting with numerous clemency requests, having previously worked with figures such as Steve Bannon and Peter Navarro. Mangel has received strategic advice from Trump's associates on how to present these requests effectively. However, the prospect of clemency for Bankman-Fried, a prominent Democrat donor, remains uncertain, given Trump's history of pardoning allies aligned with the MAGA movement.
Alan Dershowitz, a Harvard Law School professor with experience in securing clemency during Trump's first term, has also been approached by many seeking assistance. The involvement of such high-profile figures underscores the complexity and high stakes surrounding Bankman-Fried's potential pardon.
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