The parents of imprisoned crypto fraud Sam Bankman-Friede reportedly investigating how to secure a presidential pardon from President Donald Trump for their son, according to a Bloomberg report.
Joseph Bankman and Barbara Fried, both professors at Stanford Law School and part of FTX’s inner circle are reportedly engaging with individuals associated with Trump’s inner circle, according to the report.
In recent weeks, SBF’s parents have tried to engage in the Trump administration to discuss the potential drug addict for their 32-year-old son, who received a 25-year-old prison sentence after being convicted of fraud. The details of whether direct communication with the White House has happened remains unclear per day. Bloomberg.
The appeal of a pardon leans on Trump’s recent history of using his drug addicts to free up widely supported individuals, such as Silk Road founder Ross Ulbricht. Unlike Ulbricht, however, Bankman-Friede lacks widespread public support, although he claims his verdict is too harsh, especially since most FTX customers have recovered their financial losses.
Bankman-Fred’s FTX, formerly the world’s third largest crypto exchange, went bust in November 2022, after a Coindesk scoop said the platform’s sister concern, Alameda Research, was on appalling financial basis.
It was later found that Alameda used the back door code to RAID billions in customer funds from FTX-An event helped by Bankman-Fred and other Alameda Foundation members.
The one-time Crypto Titan has since been sentenced to 25 years in prison and ordered to perish $ 11 billion after being convicted of seven counting of fraud, conspiracy and money laundering.
