A federal judge has made public the names of two co-signers on the $250 million SBF’s bail bond, which allowed the court to release him on house arrest while facing federal fraud and conspiracy charges stemming from the collapse of the crypto exchange FTX and Alameda Research.
Both are top professors at Stanford, where the disgraced CEO’s parents are law professors.
Andreas Paepcke and Larry Kramer co-Signed sbf’s Bond
According to documents made available on Wednesday, Stanford computer scientist Andreas Paepcke and former Stanford law school dean Larry Kramer both agreed to serve as sureties for the high value of the bond.
Paepcke signed a surety for a $200,000 bond, while Larry Kramer did the same for a $500,000 bond. Each agrees with Sam Bankman-Fried’s parents to let Bankman Fried reside with them near the university rather than be in custody while the case is underway.
Kramer stated that he and his wife have been “close friends” with Sam Bankman-Fried’s parents since the mid-1990s when CNBC journalist Eamon Javers emailed him to inquire why he chose to support SBF.
"Joe Bankman and Barbara Fried have been close friends of my wife and I since the mid-1990s…"
— Eamon Javers (@EamonJavers) February 15, 2023
He stated that he felt compelled to assist the couple since they had helped his own family during a “harrowing battle with cancer” during the previous two years.
“We have sought to support them as they face their own crisis,” Larry Kramer affirmed. “My actions are in my personal capacity, and I have no business dealings or interest in this matter other than to help our loyal and steadfast friends.”
Bankman-Fried’s lawyers had contended that Kramer and Paepcke’s personalities should remain a secret to secure them from public and media bullying. The judge, however, found that they’re voluntarily entering a high-profile public lawsuit by signing the bonds, thereby limiting their claims to privacy.
Nobody could have predicted the identities of the SBF’s bail bond sureties until the court made them public. Meanwhile, this has dispelled the concerns of some who suspected it was Kevin O’Leary from Shark Tank, most likely since he has continued to openly back SBF despite the FTX fiasco.
Prosecutors have described Bankman Fried’s bail bargain as one of the biggest ever pre-trial bonds. However, until he fails to appear in court, neither Bankman-Fried nor the guarantors will be responsible for any payments.
