Sam Bankman-Fried applied for a pardon from President Donald Trump, more than two years after his conviction over the collapse of his multi-billion dollar cryptocurrency empire, according to Moneyweb.
BACKGROUND OF THE CASE
A federal jury in Manhattan convicted Bankman-Fried in November 2023 on all seven counts of fraud and conspiracy he faced over the collapse of FTX, and he was sentenced to 25 years in prison.
He submitted the request to the Justice Department's Office of the Pardon Attorney, seeking a pardon after completion of sentence, according to information posted on the office's website.
He was convicted over the diversion of billions of dollars in FTX customer funds to his hedge fund, Alameda Research.
PARDON PROSPECTS
A White House spokesperson said his odds of clemency remained slight, pointing to Trump's remarks in January that he had no plans to pardon Bankman-Fried, Fortune reported.
Bankman-Fried maintains his innocence and is appealing his conviction.
Sources: Moneyweb; Fortune; UPI