- The identities of the guarantors of SBF’s bail have been made public due to a motion granted by Judge Kaplan
- Former Stanford Law School Dean Larry Kramer and Stanford Research Scientist Andreas Paepcke were discovered as co-signers.
- SBF faces potential revocation of bail due to his violation of the court’s bail condition of “No encryption”
The cosigners of Sam Bankman-Fried’s $250 million bail have been revealed upon the order of Judge Kaplan. This follows the motion filed by Inner City Press early in January requesting that their identities be revealed as the case is a matter of public interest.
According to the retrieved documents, the cosigners were found to be high-profile employees at Stanford University, which interestingly is the employer of the other cosigners, SBF’s parents. Based on the documents, the first cosigner is Andreas Paepcke, who is noted to have funded $200,000 of Bankman-Frieds’ bond. Andreas works as a Senior Research Scientist at Stanford University.
Larry Kramer, the former Dean of Stanford Law School, was identified as the second guarantor on Bankman-Fried’s bond. Larry, who now works as the president of the William and Flora Hewlett Foundation, is noted to have funded $500,000 of the $250 million bond.
The connection between the two is their employment at Stanford University, which also affiliates them with Bankman Fried’s parents, who work as law professors at Stanford Law School. In an email to Forkast, Kramer stated that he backed the bail since he is good friends with Bankman-Fried’s parents. He said:
“Joe Bankman and Barbara Fried have been close friends of my wife and me 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 … In turn, we have sought to support them as they face their crisis.”
Kramer said he had no opinion on the legal issues raised by the case, as the courts would decide them. He also added that he acted personally and has no business deals or interests other than supporting a family he considers friends.
Sam Bankman-Fried Faces Potential Revocation of Bond
While Sam Bankman-Fried is still accessible on bond, he faces a potential revocation if he violates the court’s bail conditions. According to a letter to the court, the Federal Prosecutors accused Bankman-Fried of breaching a previous court order that prohibited the use of encrypted technology by utilizing a virtual private network (VPN) to watch the Super Bowl.
The letter read:
“Within a month, the defendant has used at least two methods of encryption that warrant a modification to his bail conditions. His behavior shows that the existing conditions leave too much room for circumvention of restrictions to prevent inappropriate conduct, including contacting witnesses and accessing cryptocurrency assets.”
The prosecutors requested the court to impose more substantial limits, such as prohibiting Bankman-Fried from using smartphones, laptops, or other internet-connected devices except in restricted, case-specific situations.
During the hearing to discuss the letter, Judge Kaplan, the judge overseeing his criminal fraud case, said that he had “probable cause to believe” Bankman-Fried committed a crime, witness tampering and that he doubted he was using a VPN to watch football.
As a result, the judge warned of the possibility of a revocation proceeding, a hearing to determine whether Bankman-Fried must await his trial in jail. However, he directed Bankman’s counsel and the prosecutors to collaborate in defining a fresh set of proposed bail conditions that would better monitor and prevent future problems.
