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 include recommendations from Bankman-Fried’s immediate family, namely his mother Barbara Fried, father Joseph Bankman, and brother Gabriel Bankman-Fried. In these letters, the family members appeal for a lenient sentence, providing insights into Bankman-Fried’s upbringing, character, and his role at FTX.
Gabriel expressed his belief that while Bankman-Fried has made mistakes, imprisoning him would be a waste of his potential, as he has valuable contributions to offer society. During the sentencing phase, unlike the trial, personal appeals from friends and family members are permitted, allowing for a more comprehensive understanding of the defendant’s character. On March 28, Judge Lewis Kaplan will determine the length of Bankman-Fried’s prison term, marking one of the final court appearances for the former CEO.
Experts have suggested that Bankman-Fried could face a sentence ranging from 15 to 25 years. However, the maximum sentence of approximately 110 years is highly unlikely, except in extraordinary circumstances. Joseph Bankman, Bankman-Fried’s father, cautioned against imposing an overly harsh sentence, citing the potential physical dangers his son could face in prison, especially considering his difficulties in responding to social cues. Joseph’s letter emphasized that Bankman-Fried prioritized repaying investors before his arrest, downplaying any extravagant spending.
Barbara Fried, Bankman-Fried’s mother, provided the longest letter of support. She highlighted his desire to help others since childhood and even during his time in jail, where he has been tutoring inmates for their GED exams. She also urged Judge Kaplan to take into account Bankman-Fried’s poor response to social cues, emphasizing his remorse since the collapse of FTX in November 2022.
The letters from Bankman-Fried’s family members seemed to downplay the impact of FTX’s collapse on investors and his own involvement in the fraud. These claims, along with other letters of support, received backlash on social media, with many questioning the sincerity of the appeals and expressing doubts about Bankman-Fried’s potential for rehabilitation.
Bankman-Fried’s legal team has proposed a sentence of 63-78 months, while the prosecution is expected to present their recommendations on March 15. Bankman-Fried will celebrate his 32nd birthday in jail on March 6, marking the first birthday he spends behind bars since his bail was revoked in August 2023. The collapse of FTX has raised concerns about the trustworthiness of crypto exchanges, prompting discussions about the industry’s integrity.