Two Stanford University academics signed on to FTX founder Sam Bankman-Fried’s $250 million bail package, enabling him to live with his parents while...
NEW YORK — Two Stanford University academics signed on to FTX founder Sam Bankman-Fried’s $250 million bail package, enabling him to live with his parents while awaiting trial on fraud charges, court papers revealed Wednesday.
Kramer is on the hook for $500,000 while Paepcke has agreed to pay $200,000, court records show. Neither was required to post collateral for the “personal recognizance bond.” The names were ordered unsealed Wednesday by Judge Lewis A. Kaplan at the request of news organizations, including The Associated Press.Lawyers for Bankman-Fried had opposed the release of the names on the grounds that supporters of Bankman-Fried, including his parents, were likely to face threats.
The judge called a hearing about the bail package for the second week in a row. This time, Kaplan scheduled the hearing after prosecutors complained that Bankman-Fried had twice accessed an internet site that prevented the government from knowing exactly what he had done online. The judge cautioned lawyers last week that he was more concerned that Bankman-Fried appear for trial than that his preferences for online communications be approved.
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