In a troubling report, disgraced former FTX CEO Sam Bankman-Fried’s family has been actively pursuing a pardon for their corrupt son from President Donald Trump. This effort to manipulate the political system is a stark reminder of the unchecked privilege accompanying wealth and power. Rather than facing the consequences of his actions, Bankman-Fried’s family is reportedly leveraging their connections and influence to evade accountability, further undermining public trust in the legal system and the political process.
According to Bloomberg, Joseph Bankman and Barbara Fried have held several meetings with lawyers and people close to Trump in an attempt to secure a deal for their son to get him out of prison despite being convicted for several charges related to fraud, money laundering, and violations of campaign finance laws. He was sentenced to 25 years in prison last March.
While Trump has not commented extensively on Bankman-Fried, he has made significant remarks regarding the FTX scandal and its implications, often linking it to his criticisms of the political and financial systems. Trump previously highlighted money's influence in politics, implying that some of Bankman-Fried's financial backers, who were also prominent political donors, should be scrutinized for their ties to Washington, DC.
However, as the two Stanford Law School professors seek clemency for their son from the president, it was reported that Bankman and Fried previously “exploited their access and influence… to enrich themselves” and make a good deal of money from FTX.
FTX has sued Bankman-Fried’s parents for the millions of dollars they received from the company. According to the lawsuit, his parents “fraudulently transferred and misappropriated funds,” specifically noting that his mother assisted her son in directing millions of dollars in political donations.
Prison consultant Sam Mangel, who has been handling several clemency requests now that Trump is in office, said he has received advice from individuals within Trump’s circle on how to craft compelling clemency pitches.
“I was told not to bring any sex crimes, true crimes of violence, or illegal immigration cases,” he said.