According to the latest court documents in the fraud case involving former FTX CEO Sam Bankman-Fried in Manhattan, the New York judge presiding over the case revealed the co-signers of Bankman-Fried’s bail on Wednesday. The names of the two co-signers on the bond that were previously redacted from court documents are Stanford University alumni Larry Kramer and Andreas Paepcke.
Details emerge about SBF bail cosigners
Sam Bankman-Fried (SBF), co-founder of FTX, faces eight counts of financial misconduct for allegedly embezzling client funds. He is currently out on bail and is being monitored for an ankle bracelet, with his trial scheduled for October 3, 2023. SBF’s $250 million bail settlement was secured by the Stanford faculty house of his parents, and two cosigners endorsed the agreement. However, their names were previously unknown because lawyers argued they should remain redacted for privacy reasons.
On Wednesday, the New York judge unsealed the previously redacted names of the two co-signers, revealing that they were prominent members of Stanford University. One of the co-signers was Larry Kramer, former dean of Stanford Law School from 2005 to 2012. The other co-signer was Andreas Paepcke, a senior computer research scientist at Stanford University. Kramer is the president of the left-leaning Hewlett Foundation, which aims to encourage “effective philanthropy.” He has described the SBF parents as “the best of friends”. In a statement sent to multiple media outlets, Kramer saying:
Joe Bankman and Barbara Fried have been close friends of my wife and I since the mid-1990s. For the past two years, as my family has faced a harrowing battle with cancer, they have been the best of friends: bringing food, providing support morally and frequently stepping in at any time to help. In turn, we have sought to support them as they face their own crisis.
Several news outlets have reportedly tried to obtain comment from computer science researcher Andreas Paepcke, but he has not responded to requests. According to his bio, Paepcke is interested in “interfaces and systems” and leverages “data analytics to create tools that benefit these online efforts.” Some people on Twitter too commented about the resemblance between SBF and Paepcke. SBF said journalist Tiffany Fong that none of the bond guarantors “received payments from FTX or Alameda.”
What do you think about the disclosure of the identities of the co-signers in the Sam Bankman-Fried bail agreement? Share your thoughts in the comments below.
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