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The identities of the guarantors who signed as guarantees

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The identities of the guarantors who signed as guarantees

Source: blockchain.news

Following a request by several news outlets, a federal judge has agreed to allow the identities of the guarantors who signed as sureties for former FTX CEO Sam Bankman’s $250 million bonus, Fried, to be made public. This decision was made in response to the judge’s decision that the identities of the sureties could be made public.

Andreas Paepcke, a senior research scientist at Stanford University, and Larry Kramer, a former dean of Stanford Law School, have been revealed to be the two people who had not previously been named, according to court records made public on Monday. February 15. On January 25, each of these individuals put up $200,000 and $500,000, respectively, as collateral to ensure Bankman released Fried’s on bail.

SBF’s parents, Joseph Bankman and Barbara Fried, were the other two people who signed their son’s bond in December 2022, after his arraignment. This occurred after SBF was charged with a crime. Before her son’s arrest, the two were law professors at Stanford. Bankman appears to be increasingly a target in the FTX bankruptcy case, as corporate creditors served him, his son and other “informants” with subpoenas on February 14.

According to a story published by Business Insider on February 15, Kramer said he had known Bankman and Fried since the 1990s, and that the reason for his half-million-dollar gift was because of their friendship. At the time of publication, it is unknown what kind of relationship, if any, Paepcke may have had with Bankman-Fried or her parents.

Bankman-bail Fried’s terms required that he be placed under house arrest at his parents’ home in California; however, he is free to leave the residence for court appearances and other authorized activities. Judge Lewis Kaplan modified the terms of SBF’s release on bail to include a ban on accessing specific messaging apps, using virtual private networks, and communicating with current and former FTX and Alameda Research employees.

In a letter dated January 12, eight major news sites asked Judge Kaplan to release the identities of the two people “who provided financial support to Mr. Bankman-Fried.” The petition was initially granted, but the court halted the release of the names of the guarantors until February 7 to give SBF’s legal team time to appeal the decision.

In a letter dated January 3, Bankman-Fried’s lawyers objected to the publication of the names of Paepcke and Kramer, saying their clients had been subjected to “extreme media attention, harassment and threats.” Paepcke and Kramer had not been identified at the time the letter was sent. As a result of the legal team’s announcement that they want to appeal Kaplan’s sentence, the distribution of the material has been postponed until February 14.

The criminal proceedings against SBF are expected to start in October, while the lawsuit against FTX’s bankruptcy is still active. Gary Wang, co-founder of FTX, and Caroline Ellison, former CEO of Alameda Research, have pleaded guilty to specific crimes and appear to be collaborating with police.

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