Bankman-Fried Ordered to Reveal Names of Bond Signers
- The federal judge claims Bankman-Fried did not apply to the appeals court.
- Larry Kramer noted that his association with the case was due to his long-lasting friendship with Bankman-Fried’s parents.
A federal judge ruled on Wednesday that the co-signers of Sam Bankman-Fried’s bond should be made public after Bankman-Fried failed to apply to the appeals court. The 30-year-old entered a not guilty plea to fraud charges related to the bankruptcy of FTX. Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, co-signed the $250 million bond to secure his return to court.
Prior to Wednesday, the names of two additional sureties were withheld; however, U.S. District Judge Lewis Kaplan ruled that their identities must now be made public. According to the newly-unredacted records, Larry Kramer and Andreas Paepcke each signed bonds totaling $500,000 and $200,000 to guarantee Bankman-Fried’s appearance in court.
Kramer is a former dean of Stanford Law School, while Paepcke is a senior research scientist. Kramer told reporters that his relationship with Bankman-Fried’s parents, who are both Stanford instructors, led him to post bail for the FTX founder.
Kramer said in a statement,
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.
Kramer added that his actions are “in my personal capacity” and that he has “no business dealings or interest in this matter other than to help our loyal and steadfast friends.” Prior to his ruling on Wednesday, Judge Lewis Kaplan consented to seal the names of the co-signers. Bankman-Fried’s attorneys pushed for the confidentiality of the information in a court document, claiming that the popularity of the case and the overwhelming media attention it is receiving could lead to serious privacy and safety issues for the co-signers.
This is a developing story that will be updated to include more details.