Other presidents have let white-collar criminals dodge financial penalties – but not like Trump

President Donald Trump wields a unique ability when it comes to pardoning white-collar criminals, an ability that surpasses his predecessors. His generosity is legendary, a fact reflected in the plethora of lobbyists, lawyers, and insiders that have emerged to exploit this power for wealthy criminals. The president's clemency, which involves reducing punishment or even forgiving federal crimes, has saved convicted defendants nearly $1.7 billion in financial penalties.

This amount includes $700 million that had not yet been officially imposed due to the speed of the clemency. The remaining $1 billion consisted of restitution, meant to repay victims of the criminals' crimes.

Restitution orders defendants to pay back their gains to victims, such as the CEO of a fraudulent hydrogen-powered truck company having to repay investors. The Trump administration has granted clemency to a range of high-profile fraudsters, including a cryptocurrency billionaire and CEOs convicted of payroll tax fraud. These pardons and commutations have often coincided with lobbying efforts or donations to Trump's causes.

Many clemency seekers use fundraising events or generous contributions to catch the president's attention.

The U.S. Constitution grants the president vast power to pardon with seemingly little oversight. Since 1894, the Office of the Pardon Attorney has attempted to impose guidelines for clemency eligibility, such as waiting five years after prison release. However, Trump's second-term clemency has been more lenient than his predecessors.

Only 34 of the 216 pardons granted have been given to those who waited the required length of time. Trump's second-term clemency has exceeded the financial forgiveness of all past administrations combined, with a significant portion of the saved funds being restitution for victims.