The parents of Sam Bankman-Fried, a crypto fraudster currently serving a 25-year prison sentence, are reportedly exploring avenues to secure a presidential pardon for their son from President Donald Trump. Joseph Bankman and Barbara Fried, who are both professors at Stanford Law School and part of FTX’s inner circle, have been in contact with individuals connected to Trump’s inner circle in an effort to seek clemency for their son, as reported by Bloomberg.
In recent weeks, SBF’s parents have been attempting to communicate with the Trump administration to discuss the possibility of a pardon for their 32-year-old son, who was convicted of fraud. While the details of any direct communication with the White House remain unclear, the appeal for a pardon is based on Trump’s track record of granting clemency to individuals who have widespread public support, such as Silk Road founder Ross Ulbricht.
Unlike Ulbricht, Sam Bankman-Fried does not enjoy the same level of public support, but he argues that his sentence is excessively harsh, especially considering that most FTX customers have recovered their financial losses. FTX, once the world’s third largest crypto exchange, collapsed in November 2022 following revelations that its sister company, Alameda Research, was facing financial difficulties.
It was later discovered that Alameda had used unauthorized code to siphon billions of dollars from FTX customers, a scheme orchestrated by Bankman-Fried and other Alameda executives. As a result, Bankman-Fried was sentenced to 25 years in prison and ordered to forfeit $11 billion after being found guilty of multiple counts of fraud, conspiracy, and money laundering.
The efforts of SBF’s parents to secure a pardon for their son reflect their belief that his sentence is disproportionate to his crimes, and they are hoping that Trump will consider granting clemency in this case. The outcome of their appeal remains uncertain, but their actions underscore the lengths to which they are willing to go to seek justice for their son.