Senate passes resolution rejecting pardon for Sam Bankman-Fried

Senate passes resolution rejecting pardon for Sam Bankman-Fried

The bipartisan measure carries no legal force but sends a clear message as the former FTX founder's pardon petition lingers

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By Editorial Team
Edited by Vivian Nguyen

The US Senate has unanimously adopted a resolution stating that Sam Bankman-Fried should not be granted executive clemency, including either a pardon or a commutation of his sentence.

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The resolution reflects the Senate’s view that accountability should be maintained while reinforcing confidence in the rule of law and the integrity of the US financial system.

The bipartisan resolution, introduced last month by Senators Ruben Gallego and Cynthia Lummis, urges the US government to deny any form of executive clemency to the former FTX CEO, arguing that a pardon or commutation would undermine confidence in the justice system and the integrity of US financial markets.

The measure cites Bankman-Fried’s conviction on seven federal criminal charges stemming from the collapse of FTX, including fraud and money laundering conspiracy, as well as his 25-year prison sentence and $11 billion forfeiture order. The FTX collapse is seen as one of the largest financial frauds in US history, involving billions of dollars in misappropriated customer funds.

Bankman-Fried has repeatedly denied wrongdoing and labeled his prosecution “lawfare.” The disgraced crypto executive has also filed a presidential pardon petition.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
FINANCE
Senate passes resolution rejecting pardon for Sam Bankman-Fried
Senate passes resolution rejecting pardon for Sam Bankman-Fried

The bipartisan measure carries no legal force but sends a clear message as the former FTX founder's pardon petition lingers

By Editorial Team
Edited by Vivian Nguyen

Share

Add us on Google

The US Senate has unanimously adopted a resolution stating that Sam Bankman-Fried should not be granted executive clemency, including either a pardon or a commutation of his sentence.

Advertisement

The resolution reflects the Senate’s view that accountability should be maintained while reinforcing confidence in the rule of law and the integrity of the US financial system.

The bipartisan resolution, introduced last month by Senators Ruben Gallego and Cynthia Lummis, urges the US government to deny any form of executive clemency to the former FTX CEO, arguing that a pardon or commutation would undermine confidence in the justice system and the integrity of US financial markets.

The measure cites Bankman-Fried’s conviction on seven federal criminal charges stemming from the collapse of FTX, including fraud and money laundering conspiracy, as well as his 25-year prison sentence and $11 billion forfeiture order. The FTX collapse is seen as one of the largest financial frauds in US history, involving billions of dollars in misappropriated customer funds.

Bankman-Fried has repeatedly denied wrongdoing and labeled his prosecution “lawfare.” The disgraced crypto executive has also filed a presidential pardon petition.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.