Stanford Alumni Revealed as Co-Signers of FTX Co-Founder’s $250M Bond
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 unsealed the co-signers of Bankman-Fried’s bond on Wednesday. The names of the two bail bond co-signers that were previously redacted from court documents are Stanford University alumni Larry Kramer and Andreas Paepcke.
Details Emerge on SBF’s Bail Bond Co-Signers
Sam Bankman-Fried (SBF), co-founder of FTX, faces eight counts of financial misconduct for allegedly mishandling customer funds. He is currently out on bail and is being monitored by an ankle bracelet, with his trial scheduled for Oct. 3, 2023. SBF’s $250 million bond agreement was secured by his parents’ Stanford faculty home, and two co-signers backed the agreement. However, their names were previously unknown because lawyers argued that they should remain redacted for privacy reasons.
The two co-signers of SBF’s $250M bail bond were both members of Stanford University. Co-signer Andreas Paepcke is pictured on the left and co-signer Larry Kramer is pictured on the right.
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 co-signer was Larry Kramer, a former dean of Stanford Law School from 2005 to 2012. The other co-signer was Andreas Paepcke, a senior research scientist in computer science at Stanford University. Kramer is the president of the left-leaning Hewlett Foundation, which aims to bolster ‘effective philanthropy.’ He has described SBF’s parents as “the truest of friends.” In a statement sent to multiple media publications, Kramer said:
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 moment’s notice to help. In turn, we have sought to support them as they face their own crisis.
According to reports, several news outlets have attempted to get a 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 also commented on the resemblance between SBF and Paepcke. SBF told journalist Tiffany Fong that neither of the bond guarantors “received payments from FTX or Alameda.”
Tags in this story $250 million bond, alameda, Andreas Paepcke, ankle bracelet, bail bond, Barbara Fried, cancer, co-signers, co-signers FTX, comments, computer science, Customer Funds, data analytics, Dean, effective philanthropy, financial misconduct, fraud case, ftx, Hewlett Foundation, Joe Bankman, Larry Kramer, Manhattan, new york judge, Payments, Privacy, redacted, research scientist, Sam Bankman-Fried, Stanford Law School, Stanford University, Stanford University alumni, Stanford University members, Trial, Twitter
What are your thoughts on the revelation of the co-signers’ identities in Sam Bankman-Fried’s bail agreement? Share your thoughts in the comments below.
Crypto Lender Celsius to Be Acquired by Novawulf, Exiting Chapter 11 NEWS | 6 hours ago FTX Bankruptcy Judge Denies US Trustee’s Request for Independent Examiner NEWS | 21 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons
The Blur Airdrop Unveils NFTFi on CoinEx: The DeFi Platform That’s Taking NFTs to the Next Level
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimerShow comments
More Popular News
In Case You Missed It
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this … read more.
Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament Today’s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals