According to court records, the judge overseeing his criminal case said that Sam Bankman-Fried‘s bond signers’ identities must be made public.
According to the filing from Wednesday, Larry Kramer contributed $500,000, and Andreas Paepcke $200,000. Both have held positions at Stanford University, where Bankman-Fried’s parents had similar positions.
A New York judge granted Bankman-Fried’s release from detention in December in exchange for a $250 million bail. The parents of the suspected thief pledged their Palo Alto, California residence as security, but other parties had to sign the bond.
The co-signers will be responsible for paying the money if Bankman-Fried fails to appear for his trial.
According to the college’s website, Larry Kramer was previously dean of Stanford Law School, and Andreas Paepcke is a senior research scientist.
One of the most prominent and costly colleges in the country is Stanford. In a statement, Kramer claimed to be a close friend of the Bankman-Frieds.
Bankman-Fried, also known as SBF, entered a not-guilty plea to eight criminal counts.
After the gigantic company’s stunning collapse in November of last year, the ex-CEO of the defunct cryptocurrency exchange is accused of wire fraud against consumers, conspiracy to conduct money laundering, and other offenses.
By mixing funds and placing dangerous bets with client money on the exchange’s subsidiary trading platform, Alameda Research, it is alleged that Bankman-Fried and other individuals unlawfully mishandled the exchange.
The trial for Bankman-Fried is scheduled to start in October.
After FTX’s demise, numerous other significant cryptocurrency companies have filed for bankruptcy, prompting American policymakers to seriously consider how to govern the rapidly evolving and intricate business properly.