Lawyers representing Sam “SBF” Bankman-Fried have submitted 29 letters advocating for clemency as he awaits his sentence for his role as the former CEO of FTX. These letters, including recommendations from his immediate family, were attached to a filing made on February 27 in the United States District Court for the Southern District of New York. The letters, written by Bankman-Fried’s mother, father, and brother, express a desire for a lenient sentence and provide insights into his upbringing, character, and contributions to FTX.
Gabriel Bankman-Fried, the former CEO’s brother, stated, “Sam has made mistakes, but his life would be wasted in prison. He has great gifts to offer the world.” During sentencing, personal appeals from friends and family members can be presented, offering a glimpse into the defendant’s character. On March 28, Judge Lewis Kaplan will determine Bankman-Fried’s prison term as he returns to court for one of the final times.
Experts have suggested that Bankman-Fried could potentially face a sentence ranging from 15 to 25 years. However, the maximum sentence of approximately 110 years is unlikely unless extraordinary circumstances are present. Joseph Bankman, Bankman-Fried’s father, cautioned against a severe sentence, citing potential physical danger and his son’s difficulty in responding to social cues. In his letter, Joseph emphasized that his son prioritized repaying investors before his arrest and downplayed any excessive spending.
Barbara Fried, Bankman-Fried’s mother, wrote the longest letter of support, highlighting his desire to help others from childhood to his time in jail, where he has been tutoring inmates for their GED exams. She also requested that Judge Kaplan consider her son’s poor response to social cues, stating that he has been consumed by remorse since the collapse of FTX in November 2022.
The letters from Bankman-Fried’s family appear to downplay the impact of FTX’s collapse on investors and his involvement in the fraudulent activities. Many social media users have criticized the claims made in the letters and other letters of support. They argue that Bankman-Fried’s rehabilitation while in prison would likely be minimal, drawing comparisons to the case of Billy McFarland from the Fyre Festival scandal.
Bankman-Fried’s lawyers have proposed a sentence of 63-78 months, while prosecutors are expected to present their recommendations on March 15. Bankman-Fried will celebrate his 32nd birthday in jail on March 6, marking his first birthday behind bars since his bail was revoked in August 2023. Given the collapse of FTX, concerns have been raised about the trustworthiness of crypto exchanges.