Sam Bankman-Fried’s Bail Co-signers Revealed
The details of Sam Bankman-Frieds bail have been revealed before the court. Surprisingly, the former CEO of the fallen crypto exchange, FTX, had been bailed out by two high profiles in academia. The co-signers happen to be Larry Kramer and Andreas Paepcke.
Interestingly, both guarantors have an association with the Stanford Law School. Kramer served as the Dean of the law school, whereas Paepcke served as a research scientist.
Curiously, Sam’s parents also work for the same school.
Stanford academics contributed $700,000 for SBF bail
The surety documents of SBF also revealed that the notorious crypto figure was bailed out at $700,000. Kramer contributed around $500,000, and Paepcke put up more than $200,000 for the bail. It helped in the release of SBF, and he is currently residing with his parents in California.
However, the trial for fraud in the FTX exchange case is not over yet, and the case proceedings are still ongoing in the federal court of New York.
The founder of the fallen exchange was released on a $250 million bond. According to the government prosecutors, it was the largest ever amount. Initially, the bond was covered through SBF’s parent’s home, Palo Alto.
Judge Kaplan ordered to reveal of bail documents
Lewis Kaplan, the federal court judge, ordered to reveal the details of the surety documents. It included the revelation of the co-signers' names and the amount they contributed. The judge took action after the request from the Inner City Press back on 3 January.
Previously, the identities of the bail guarantors were concealed at the request of SBF’s lawyer. But now, the unsealing of documents has exposed the names of the co-signers. Larry Kramer and Andreas Paepcke are the figures from Stanford who put up significant amounts.
SBF’s parents, Joseph Bankman and Barbara Fried, also work for Stanford Law School. It implies that their affiliation with other employees in the school has helped secure Sam Bankman-Fried’s bail, previously denied by the Bahamas judge in December 2022.
Author: Wasay Ali
Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.