Lawyers representing Sam “SBF” Bankman-Fried have submitted 29 letters of support for his clemency as he awaits sentencing for his seven felony charges. The letters, including recommendations from Bankman-Fried’s immediate family, were attached to a filing in the United States District Court for the Southern District of New York on Feb. 27. In these letters, Bankman-Fried’s mother, father, and brother requested a lenient sentence, providing insights into his childhood, personality, and role at FTX.
Gabriel Bankman-Fried, Bankman-Fried’s brother, expressed that while his brother has made mistakes, imprisoning him would be a waste of his potential as he has much to offer the world. During sentencing, personal appeals from friends and family members are permitted, allowing for a more comprehensive understanding of a defendant’s character. On March 28, Judge Lewis Kaplan will decide the length of Bankman-Fried’s prison term, marking one of his final court appearances as the former FTX CEO.
Experts have speculated that Bankman-Fried could face a sentence ranging from 15 to 25 years. However, the maximum penalty of approximately 110 years is unlikely to be imposed unless extraordinary circumstances arise. Joseph Bankman, Bankman-Fried’s father, cautioned against an excessively severe sentence, citing potential physical danger and his son’s difficulty in responding to social cues. In his letter to the judge, Joseph Bankman argued that Bankman-Fried prioritized compensating investors before his arrest and downplayed any extravagant spending.
The longest letter of support came from Barbara Fried, Bankman-Fried’s mother. She highlighted his lifelong desire to help others and his commitment to tutoring inmates for their GED exams while in jail. Barbara Fried also urged Judge Kaplan to consider her son’s poor response to social cues and emphasized his deep remorse following the collapse of FTX in November 2022.
The letters from Bankman-Fried’s family seemed to downplay the impact of FTX’s collapse on investors and his involvement in the fraud. However, these claims and other letters of support received negative responses on social media. Some users argued that individuals writing letters for leniency should consider the lack of rehabilitation experienced by figures like Billy McFarland of Fyre Festival. They expressed skepticism regarding Bankman-Fried’s potential for positive change if released.
Bankman-Fried’s legal team has requested a sentence of 63-78 months, while the prosecution is expected to present its recommendations on March 15. Bankman-Fried will celebrate his 32nd birthday behind bars on March 6 after his bail was revoked in August 2023.
Given the collapse of FTX, concerns have been raised about the trustworthiness of crypto exchanges.