Following a request from multiple media sites, a federal judge has approved the release of the names of the guarantors who agreed to serve as sureties for former FTX CEO Sam Bankman-$250 Fried’s million bond.
The two previously unknown people are Larry Kramer, a former dean of Stanford Law School, and senior research scientist Andreas Paepcke, both of Stanford University. This information is revealed in court records that were made public on February 15. On January 25, the two agreed to serve as sureties for Bankman-$200,000 Fried’s and $500,000 bails, respectively.
SBF’s parents, Joseph Bankman and Barbara Fried, were the other two individuals who approved their son’s bond in December 2022 after his arraignment. Prior to their son’s arrest, the two were Stanford law professors, with Bankman appearing to become more of a target in the FTX bankruptcy case; on February 14, the corporate debtors sent subpoenas to him, his son, and other “insiders.”
Kramer claimed that his $500,000 gift was based on his friendship with Bankman and Fried, which dates back to the 1990s, according to a Business Insider report dated February 15. At the time of publication, it was unknown if Paepcke knew Bankman-Fried or his parents.
Bankman-Fried was placed under home detention at his parent’s California home as part of his bail conditions, but he has been allowed to travel for court appearances and other appointments. SBF’s bail terms have been modified by Judge Lewis Kaplan to include prohibitions on using virtual private networks, accessing specific messaging apps, and getting in touch with current and former FTX and Alameda Research workers.
In a letter dated January 12 to Judge Kaplan, eight significant news organizations asked the court to reveal the identities of the two people “who supported Mr. Bankman-Fried with financial aid.” The judge initially granted the petition but postponed disclosing the names of the guarantors until February 7 to give SBF’s legal counsel time to file an appeal.
In a letter dated January 3 opposing the disclosure of Paepcke’s and Kramer’s identities, Bankman-attorneys Fried’s claimed that Bankman and Fried had been the subject of “intense media scrutiny, harassment, and threats.” The legal team declared their intention to challenge Kaplan’s ruling, which caused the material to not be made public until February 14.
The criminal prosecution for SBF is set to start in October while the bankruptcy case for FTX is still pending. Gary Wang, a co-founder of FTX, and Caroline Ellison, a former CEO of Alameda Research, have already entered guilty pleas to some counts and are apparently working with law enforcement.
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