Sam Bankman-Fried’s parents are reportedly pursuing a presidential pardon from Donald Trump for their son, who is currently serving a 25-year prison sentence following the collapse of FTX. According to Bloomberg, Joseph Bankman and Barbara Fried have been engaging in discussions with legal professionals and individuals close to Trump regarding clemency.

It remains unclear whether the couple has directly contacted the White House or if they plan to do so in the future. However, their efforts follow a pattern set by Trump’s recent use of his clemency powers. Just last month, Trump pardoned Ross Ulbricht, also known as Dread Pirate Roberts, who was convicted of operating the illegal online marketplace Silk Road.

Sam Bankman-Fried’s legal team has been making an argument that the length of his sentence is excessive, citing the fact that FTX customers have largely recovered their funds. As part of the bankruptcy proceedings, a court-approved reorganization plan is expected to return up to 119% of creditor claims.

Source: cryptobriefing.com