close video Sam Bankman-Fried’s $250M bond is a ‘sham’: McCarthy
Former Assistant U.S. Attorney Andy McCarthy weighs in on FTX founder Sam Bankman-Fried posting $250 million bond and former Alameda CEO and FTX co-founder cooperating with federal officials on ‘Fox Business Tonight.’
The identities of two individuals who helped the parents of Sam Bankman-Fried secure the disgraced FTX founder's release on a $250 million bond are now public, and both have ties to Stanford University.
Sam Bankman-Fried leaves a New York court on Jan. 3, 2023. The former CEO of FTX and Alameda was released on $250 million bail. (Fatih Aktas / Anadolu Agency via Getty Images / Getty Images)
Unredacted court documents released Wednesday on the orders of U.S. District Court Judge Lewis Kaplan revealed former Stanford Law School Dean Larry Kramer was the co-signer of a $500,000 bond for Bankman-Fried, and Stanford research scientist Andreas Paepcke was the guarantor of a $200,000 bond for the former crypto king.
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Bankman-Fried's parents, Joseph Bankman and Barbara Fried, are both professors at Stanford Law School and were revealed as their son's bail-backers upon his release from custody in late December. He is staying in their Palo Alto, California, home on house arrest as he awaits trial on several charges related to the collapse of his cryptocurrency exchange.
Sam Bankman-Fried’s mother, Barbara Fried, leaves federal court in New York City on Dec. 22, 2022. (Charles Guerin / Abaca for Fox News Digital / File / Fox News)
Bankman-Fried's defense team had been fighting to keep Kramer and Paepcke's identities hidden from public view, arguing it was for the co-signers' safety.
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The attorneys argued that the defendant's parents have faced harassment and physical threats since FTX collapsed and entered bankruptcy in November and that security concerns grew after their son's release. Bankman-Fried's lawyers fear Kramer and Paepcke may face similar threats.
Sam Bankman-Fried leaves federal court in New York City on Dec. 22, 2022. (Charles Guerin / Abaca for Fox News Digital / Fox News)
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But Kaplan sided with the multiple news outlets that have been pushing for the two additional guarantors' names to be revealed, arguing that doing so was in the interest of the public.