This article is part of TPM Cafe, TPM’s home for opinion and news analysis. It was originally published at The Conversation.

President Donald Trump loves a good pardon. His generosity is so well known, in fact, that an industry of lobbyists, lawyers and other insiders has reportedly sprung up to facilitate clemency for wealthy criminals. Clemency, meaning mercy or leniency, lets the president reduce the punishment for, or even forgive, federal crimes.

For defendants hoping to avoid jail and walk away from millions of dollars in financial sanctions, paying, say, $600,000 to a lobbying firm to influence the president may seem like a good investment.

House Democrats recently reported that Trump’s second-term clemency – which includes both pardons, which wipe away every part of a conviction, and commutations, which typically leave convictions intact but shorten a person’s sentence – has saved convicted defendants nearly $1.7 billion in forgiven financial obligations.

Some of that amount – about $700 million – had not yet been officially imposed by courts because the clemency came through so quickly. Much of the remaining $1 billion had been ordered as restitution, meant to repay victims’ losses.

As a legal scholar researching the evolution of modern presidential clemency, I have reviewed every individual pardon and commutation granted by U.S. presidents since 1989, spanning seven administrations, from George H.W. Bush to Trump’s second term. I have found that while other presidents have canceled tens of millions of dollars’ worth of restitution and fines, none of them have come anywhere near the billion-dollar mark – until now.

The main financial penalties faced by federal defendants are fines, forfeiture – where a defendant has to give up, say, the Ferrari they bought with the profits from their drug business – and restitution.

Restitution is an order to pay back the criminal’s gains to the victims of the crime. For example, if the CEO of a company........

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