SBF bond pals bared
2 Stanford honchos
Two Stanford University employees were revealed Wednesday as the previously unidentified co-signers of FTX founder Sam Bankman-Fried’s record $250 million bail package.
Unsealed court records named the guarantors as Larry Kramer, dean emeritus of Stanford Law School, and Andreas Paepcke, a senior research scientist and computer science expert at the elite institution.
Kramer is a close friend of the accused crypto fraudster’s parents, Joseph Bankman and Barbara Fried, who are professors at the law school.
Bankman-Fried was born on the campus.
Kramer, who was dean of law school from 2005 to 2012, signed a $500,000 bond on Bankman-Fried’s behalf, while Paepcke signed a $200,000 bond. The bonds represent the amount of money that Kramer and Paepcke would owe if Bankman-Fried does not return to court as mandated.
In a statement, Kramer said he and his wife have been “close friends” with Bankman and Fried 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,” Kramer said.
Paepcke, whose connection to the family is not clear, did not respond to a request for comment.
The identities of the cosigners had been a subject of rampant speculation. Bankman-Fried’s attorneys initially signaled they would appeal Manhattan federal Judge Lewis Kaplan’s decision to unseal the names.
But Kaplan ordered the records unsealed after noting that Bankman-Fried’s legal team had made “no application for a further stay.”
Bankman-Fried has been under house arrest since his parents secured his release by putting up their home as collateral on a $250 million bond.