John Deaton Rejects Any SBF Pardon As DOJ And FBI Stand By 25-Year Sentence

Lawyer John E. Deaton has urged authorities and political leaders to reject any try and pardon or commute the sentence of Sam Bankman-Fried, the previous FTX chief convicted of orchestrating one of many largest monetary frauds in American historical past.

In a press release shared on He additionally accused Bankman-Fried’s mother and father, Joe Bankman and Barbara Fried, of taking part within the fraudulent operations, citing their reported involvement in shell firms, political fundraising and property purchases tied to FTX funds.

Stories of a pardon lobbying effort

On March 11, 2025, political commentator Laura Loomer reported {that a} well-funded lobbying effort was underway to push President Donald Trump’s workforce to pardon Bankman-Fried. Loomer alleged that some political consultants and donors have been coordinating a marketing campaign to painting the FTX founder as a “sufferer” following his current solitary confinement and media appearances. She alleged that his family have been concerned in hiring an organization to foyer for a pardon.

Federal prosecutors, nonetheless, have argued that Bankman-Fried’s crimes brought on nice hurt to traders, lenders and clients. He was sentenced to 25 years in jail, three years of supervised launch, and ordered to forfeit $11 billion in belongings for defrauding billions from FTX customers and traders.

Particulars of the FTX fraud case

In response to the U.S. Legal professional’s Workplace for the Southern District of New York, between 2019 and 2022, Bankman-Fried used FTX shopper cash to make greater than $100 million in political donations, largely to Democratic candidates, whereas additionally contributing to some Republican campaigns. He was convicted on seven federal costs, together with financial institution fraud, securities fraud, commodities fraud and cash laundering.

Prosecutors mentioned Bankman-Fried made adjustments to FTX’s code to permit Alameda Analysis, his buying and selling agency, to entry and withdraw unrestricted funds. He additionally offered traders and lenders with falsified monetary knowledge and used buyer deposits to buy luxurious actual property and finance political affect.

Associated: FTX’s high creditor activist talks about Sam Bankman-Fried’s 25-year conviction

Legal professional Basic Merrick B. Garland mentioned the case confirmed that “there are critical penalties for defrauding clients and traders.” Moreover, FBI Director Christopher Wray described the result as a transparent message to anybody who desires to take advantage of monetary methods for private achieve. U.S. Legal professional Damian Williams added that the sentence ensures accountability and that any recovered funds will likely be used to compensate victims via court-approved restitution.