A resolution expressing the sense of the Senate that under no circumstances should Samuel Bankman-Fried receive executive clemency, including a pardon or commutation, and affirming the Senate's commitment to the rule of law and integrity of the United States financial system.
- Bill Number
- S.Res. 772
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 2
- Policy Area
- Crime and Law Enforcement
- Status
- Introduced
- Latest Action
- 2026-06-17: Referred to the Committee on the Judiciary. (text: CR S2896)
- Last Updated
- 2026-06-30T13:58:39Z
AI-Generated Summary
Purpose This Senate resolution expresses the sense of the Senate that Samuel Bankman-Fried should not receive any form of executive clemency, such as a pardon or sentence reduction, and affirms the Senate's support for the rule of law and the stability of U.S. financial markets.
Key Provisions
- States that Bankman-Fried, co-founder of the FTX digital asset exchange and Alameda Research, was convicted in 2023 on seven federal counts including wire fraud, securities fraud, commodities fraud, and money laundering conspiracy.
- Notes his 2024 sentencing to 25 years in prison and forfeiture of $11 billion, based on losses exceeding $11 billion to customers, investors, and lenders.
- Highlights his use of customer funds for personal luxuries, lack of remorse, and pending pardon petition.
- Resolves that:
- No presidential pardon, commutation, or other clemency should be granted under any circumstances.
- The 25-year sentence is appropriate given the scale of the crimes and harm caused.
- The prosecution was not "lawfare," and the conviction by jury and sentence by a federal judge are valid.
- The Senate supports protecting financial markets, investors, and accountability for large-scale fraud.
Significant Changes to Existing Law This resolution introduces no changes to existing law. As a non-binding Senate resolution, it does not amend statutes, create new penalties, or alter criminal justice procedures.
Potential Impacts
- On government agencies: It may influence executive branch decisions on clemency by signaling congressional opposition, though it carries no legal force.
- On citizens: It aims to reassure victims of financial crimes and the public that accountability remains in place for major fraud cases.
- On international relations: No direct effects are outlined, though the resolution references global customers affected by the FTX collapse.
Main Stakeholders Affected
- Victims of the FTX fraud, including customers, investors, and lenders who suffered losses.
- The U.S. Senate and federal criminal justice system.
- Financial market participants and regulators concerned with investor confidence.
- Samuel Bankman-Fried, as the subject of the clemency opposition.
Notable Legal, Constitutional, or Political Implications The resolution underscores the separation of powers by using congressional opinion to address potential executive clemency without restricting presidential authority under the Constitution. It emphasizes equal application of the law in financial crimes and rejects claims that the case was politically motivated, focusing on jury conviction and judicial sentencing as core elements of accountability.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (1)
Sen. Lummis, Cynthia M. [R-WY]
Recent Actions
- 2026-06-17: Referred to the Committee on the Judiciary. (text: CR S2896)
- 2026-06-17: Submitted in Senate
Bill Versions
- Expressing the sense of the Senate that under no circumstances should Samuel Bankman-Fried receive executive clemency, including a pardon or commutation, and affirming the Senate’s commitment to the rule of law and integrity of the United States financial system. — issued 2026-06-17 — PDF (4 pages)