Hi baby we will tell you about crypto and also other things the revelation that two Stanford luminaries agreed to guarantee Bankman-Fried’s bail is the latest twist in a case that has captivated Silicon Valley and beyond.
A federal judge released the names of two people who co-signed Sam Bankman-Fried’s $250 million bail deal, which allowed him to be released on house arrest while he awaits trial on federal fraud and conspiracy charges.
In documents made public Wednesday afternoon, the court revealed that Larry Kramer, a former dean of Stanford’s law school, and Andreas Paepcke, a Stanford computer scientist, each signed on as guarantors.
Kramer and Paepcke each signed a bond worth $500,000, guaranteeing that Bankman-Fried would appear in court. The revelation that two Stanford luminaries agreed to guarantee Bankman-F.
In a statement to CNN, Kramer described Joe Bankman and Barbara Fried as close friends since the mid-1990s. “In the past two years, while my family faced a harrowing battle with cancer, they have been the truest of friends,” Kramer said. “In turn, we have sought to support them as they face their own crisis.”
He added that he had “no business dealings or interest in this matter other than to help our loyal and steadfast friends.”
“During the past two years, while my family faced a harrowing battle with cancer, they have been the truest of friends,” Kramer said.
Prosecutors have described Bankman-Fried’s bail deal as one of the largest ever pre-trial bonds. But neither Bankman-Fried nor the guarantors will have to pay any amount unless he fails to show up to court.
Judge Lewis Kaplan ordered that the bonds be placed on the public court docket after an appeals court failed to rule in time on an objection from Bankman-Fried’s defense lawyers, who sought to keep the names redacted, citing concerns for their safety.
Bankman-Fried’s attorneys are confident that he will be exonerated, but if he is convicted, the $100 million bail package will be the largest ever required for a criminal defendant.
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