New York (CNN) A federal judge released the names of two people who co-signed Sam Bankman-Fried’s $250 million bond that 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 found that Larry Kramer, a former dean of Stanford’s law school, and Andreas Paepcke, a computer scientist at Stanford, each signed as guarantors.
Kramer and Paepcke posted $500,000 and $200,000 bonds, respectively. Bankman-Fried’s parents, both Stanford law professors, are also guarantors and used their home in Palo Alto, Calif., to secure the bond.
In a statement to CNN, Kramer described Joe Bankman and Barbara Fried as close friends since the mid-1990s.
“Over the past two years, as my family faced a terrible battle with cancer, they have been the most sincere of friends… In turn, we have sought to support them as they face their crisis,” Kramer told CNN.
He continued: “My actions are in my personal capacity and I have no business relationship or interest in this matter other than to assist our loyal and steadfast friends. Nor do I have any comment or position regarding the merits of the legal matter itself. what will be the trial”.
Paepcke did not immediately respond to CNN’s request for comment.
The release of the guarantors’ names came a day before Bankman-Fried appeared in New York federal court for a bond hearing.
Judge Lewis Kaplan ordered Bankman-Fried to appear in court after prosecutors said the FTX founder used a virtual private network, or VPN, twice in the past month, even as the judge expressed concern about the use of encrypted messaging apps.
Bankman-Fried’s lawyers said in a letter to the judge that Bankman-Fried used VPN to access a football game through an international subscription.
Prosecutors have described Bankman-Fried’s bail deal as one of the largest pretrial bonds ever. But Bankman-Fried will not have to pay that unless he violates the terms of his bail agreement or fails to appear in court.
Bankman-Fried has pleaded not guilty to eight counts of fraud and conspiracy related to the collapse of his crypto empire, including trading platform FTX and trading house Alameda Research.
Judge Lewis Kaplan ordered the bonds to be placed in the open court file after an appeals court failed to timely rule on an objection from Bankman-Fried’s defense attorneys, who asked to keep the names redacted, citing privacy and security concerns. .
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