On Wednesday, the names of two of FTX co-founder Sam Bankman-Fried’s guarantors were unveiled, after an unfolding motion from media organizations, including CNBC, which was bestowed by a federal judge in Manhattan.
Bankman-Fried was released on a $250 million collateral bond in December after he was cited on criminal fraud charges. Altogether, there were four guarantors, including his parents, to make sure Bankman-Fried’s cooperation with pretrial confinement requirements.
The other two guarantors or bondsmen are known to be Andreas Paepcke, a senior research scientist at Stanford University, and Larry Kramer, president of the William and Flora Hewlett Foundation and dean emeritus at Stanford Law School. Although their names had been sealed, several media outlets moved to have their identities unveiled.
Joe Bankman and Barbara Fried, both of Bankman-Fried’s parents, are on the faculty at Stanford. And they live close to the university.
Kramer told CNBC’s Senior Washington Correspondent, Eamon Javers, “Joe Bankman and Barbara Fried have been close friends of my wife and I since the mid-1990s.”
“During the past two years, while my family faced a harrowing battle with cancer, they have been the truest of friends — bringing food, providing moral support, and frequently stepping in at a moment’s notice to help. In turn, we have sought to support them as they face their own crisis,” he added.
Kramer also said that he was acting “in my personal capacity” and has “no business dealings or interest in this matter other than to help our loyal and steadfast friends.”
Later, Kramer signed a $500,000 unsecured bond, while Paepcke signed the familiar type of bond for $250,000.
Paepcke, who qualified from Harvard University and has a PhD in computer science from a school situated in Germany, did not respond straight away to a request for comment.
Besides, the only information provided in the unfolded documentation was the names of the bondsmen and the dates on which they signed the documents. Eventually, their names matched the identities of two Stanford University-associated individuals.
Bankman-Fried’s initial release was safeguarded by both his family home and the two bonds. It is reported that the former crypto billionaire will return to New York later this week for a hearing before a Manhattan federal judge over his bail conditions, and expects to face a federal trial later in October. Recently, he pleaded not guilty in January.
- Published By Team Genuine Reporter