Advertisement
In a heartfelt appeal to U.S. District Judge Lewis Kaplan, Heather Ferguson, the mother of a victim who lost approximately $130,000 in the FTX cryptocurrency exchange collapse, has petitioned for leniency in the sentencing of Sam Bankman-Fried, the former CEO of FTX. Ferguson’s plea comes amidst the looming sentencing hearing for Bankman-Fried, who faces up to 50 years in prison following his conviction on seven counts, including wire fraud and conspiracy.
In her letter to Judge Kaplan, Ferguson acknowledged the emotional and financial toll inflicted upon her son by the FTX bankruptcy. However, she highlighted her son’s resilience and the prospect of his full reimbursement by the bankruptcy estate as factors mitigating Bankman-Fried’s culpability. Ferguson advocated for a sentence of 70 months, emphasizing the potential restoration of customer funds as a mitigating circumstance warranting leniency.
Ferguson’s appeal is part of an eleventh-hour effort by Bankman-Fried’s defense team to sway the judge’s decision. The defense submitted three letters in support of Bankman-Fried, while prosecutors filed over 50 victim impact statements, bringing the total to 117. The question of whether FTX customers’ restitution through bankruptcy should influence sentencing remains a contentious issue.
Adding to the plea for leniency, Ferguson and two other concerned parents emphasized Bankman-Fried’s emotional and behavioral disorders, urging the court to consider his autism spectrum disorder (ASD) and attention-deficit/hyperactivity disorder (ADHD) as mitigating factors. Bankman-Fried’s psychiatrist, George Lerner, underscored the impact of his conditions on his mental state and ability to assist in his defense.
Furthermore, character references from Bankman-Fried’s former friends and roommates at the Massachusetts Institute of Technology (MIT) painted a positive picture of his character and demeanor. They described him as responsible, kind-hearted, and committed to philanthropy, countering portrayals of him as motivated by greed.
The letters, including Ferguson’s heartfelt plea, present a multifaceted perspective on Bankman-Fried’s circumstances, appealing to the judge’s sense of compassion and fairness in determining his sentence. As the sentencing hearing approaches, the court faces the challenging task of weighing the severity of Bankman-Fried’s crimes against the mitigating factors presented by his supporters.