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SRES 772

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.

119th Congress Introduced by Ruben Gallego and 1 co-sponsor

The Senate expresses that Samuel Bankman-Fried should not receive presidential clemency under any circumstances, reinforcing accountability for his financial crimes.

Submitted in Senate
0
WeVote Research Nonpartisan
Bill Summary · SRES 772

Overview

  • Bill: S. Res. 772 (Senate Resolution)
  • Session: 119th Congress, 2nd Session
  • Purpose: Expresses the sense of the Senate that Samuel Bankman-Fried should not receive executive clemency (including a pardon or commutation) under any circumstances. Affirms the Senate’s commitment to the rule of law and the integrity of U.S. financial markets.
  • Sponsor/Co-sponsors: Introduced by Senator Gallego (with Senator Lummis as a co-sponsor)

Main Purpose and Intent

  • The resolution declares, in non-binding form, that Samuel Bankman-Fried should not be granted presidential clemency.
  • It articulates a moral and legal assertion about accountability for one of the nation’s high-profile financial crimes, emphasizing that his conviction and sentence should stand and that clemency would undermine deterrence and public confidence in the financial system.

Key Provisions and Changes

  • Findings (whereas clauses) summarize:
    • Bankman-Fried co-founded FTX and Alameda Research and are linked to massive customer funds misappropriation.
    • A federal jury convicted him on all counts charged, including wire fraud, securities fraud, commodities fraud, money laundering conspiracy, and conspiracies related to fraud.
    • The sentence: 25 years in federal prison and forfeiture of $11 billion, with substantial losses borne by customers, equity investors, and lenders.
    • The conviction is described as resulting from a rigorous, independent judicial process (unanimous jury verdict, federal judge’s sentence).
    • Bankman-Fried’s ongoing conduct and stance (pursuing clemency and resisting responsibility) are noted.
    • The ongoing efforts to compensate victims through the bankruptcy process.
  • Core operative clause:
    • (1) The Senate expresses that Bankman-Fried should not receive presidential pardon, commutation, or any form of federal clemency under any circumstances.
  • Supporting statements:
    • (2) The 25-year sentence reflects the scale, deliberateness, lack of remorse, and harm caused, serving justice.
    • (3) Rejects labeling the prosecution as “lawfare” and affirms the integrity of the criminal justice process.
    • (4) Reaffirms commitment to protecting the integrity of U.S. financial markets, safeguarding investors/consumers, holding fraudsters accountable, and upholding the rule of law.

Who or What Would Be Affected

  • Legally: The resolution has no binding legal force to grant or deny clemency itself; it is a Senate expression of policy/opinion.
  • Practically: Signals the Senate’s stance to the Executive Branch (President) and the Department of Justice in the clemency process.
  • Public/Stakeholders: Aims to reassure victims, financial markets participants, and the public that high-level financial criminals remain subject to accountability.

Procedural and Timeline Aspects

  • Status: Referred to the Senate Committee on the Judiciary on June 17, 2026; text submitted the same day.
  • Next steps: As a Senate resolution, it would proceed through committee discussion and potential floor consideration. It is non-binding and expresses the sense of the Senate rather than creating new law.
  • Related context: The resolution references Bankman-Fried’s petition for presidential clemency filed in 2026 (pardon after completion of sentence) and ongoing victim compensation efforts via the bankruptcy estate.

Impact Assessment

  • Legal impact: Minimal direct legal effect; serves as a formal Senate statement of opposition to clemency.
  • Policy impact: Reinforces congressional support for maintaining deterrence and the perception of accountability in large-scale financial fraud cases.
  • Public communication: Provides a clear, unambiguous message to victims and the public that the Senate asserts Bankman-Fried should remain under sentence and not receive clemency.

Compiled from official sources — confirm details with the bill’s official record.

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