Sam Bankman-Fried officially asks Trump for a presidential pardon
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Sam Bankman-Fried, the founder and former CEO of collapsed crypto exchange FTX, formally sought a presidential pardon from President Donald Trump while serving a 25-year prison sentence for fraud and conspiracy.
Key facts
The company collapsed in November 2022 after on balance sheet concerns tied to affiliated trading firm Alameda Research, exposing an $8 billion hole in FTX's accounts and triggering a run on customer
Sam Bankman-Fried, the founder and former CEO of collapsed crypto exchange FTX, formally sought a presidential pardon from President Donald Trump while serving a 25-year prison sentence for fraud
SBF’s parents, Stanford Law School professors Joseph Bankman and Barbara Fried, have previously reached out to individuals in Trump's orbit to explore a possible presidential pardon for their son
The former crypto executive, known by his initials SBF, was convicted in 2023 for orchestrating the fraud and conspiracy scheme that ultimately undid FTX, once one of the world's largest
Summary
The clemency petition is listed as pending with the Justice Department’s Office of the Pardon Attorney, while he simultaneously pursues an appeal of his conviction. Bankman-Fried and his parents have sought support for a pardon as he publicly echoes Trump’s positions, though the president has signaled that Bankman-Fried should not expect clemency despite pardoning other high-profile crypto figures. The clemency application appeared Monday in records maintained by the U.S. Department of Justice's Office of the Pardon Attorney.