Senators Ruben Gallego (D-AZ) and Cynthia Lummis (R-WY) have introduced a bipartisan resolution expressing that convicted fraudster Sam Bankman-Fried should not receive Federal clemency, including a presidential pardon.
Sam Bankman-Fried: A Refresher
Sam Bankman-Fried was the founder of the cryptocurrency company FTX and the trading firm Alameda Research, where he misappropriated billions of dollars of customer funds deposited with FTX, defrauded investors in FTX of more than $1.7 billion, and defrauded lenders to Alameda of more than $1.3 billion.
He was unanimously convicted in 2024 of 25 years in prison for his scheme, but has been trying to seek clemency, arguing that he was a victim of "lawfare" and filed a presidential pardon application to President Donald Trump, although Trump has not indicated that he will carry this out.
Nevertheless, Sens. Gallego and Lummis introduced a nonbinding resolution expressing their disapproval of Bankman-Fried's efforts to secure a pardon.
What Gallego and Lummis are Saying
"Sam Bankman-Fried is a criminal," Sen. Gallego said in a press release. "He took advantage of millions of Americans and stole their savings. Perhaps worst of all, he has shown no remorse for his crimes and has instead tried to laughably claim he is a victim of 'lawfare.' What a joke. Keep him locked up."
Sen. Lummis added, "Sam Bankman-Fried didn't lose other people's billions; he took them and used them to fund his lavish lifestyle, and now he wants a presidential pardon to shield him from the consequences of his own actions."
"He had his day in court. A jury didn't buy his act, and a judge gave him 25 years for a reason," Sen. Lummis continued. "Mr. Bankman-Fried can spend that time chasing clemency he hasn't earned, or he can finally do something novel and take accountability, but I'm certainly not interested in helping him avoid responsibility."
