Feb 16, 2023
Stanford Law Dean Co-Signs Sam Bankman-Fried’s Bail in Return for Friendship
Two former Stanford Law School professors have stepped up to co-sign the bail of Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX.
According to an emailed statement, Larry Kramer, the former dean of Stanford Law School, and Andreas Paepcke, a senior research scientist at Stanford University, have signed for $500K and $200K respectively in order to help out their “truest of friends”.
Kramer said that Bankman and Fried had provided food and moral support to his family during a “harrowing battle with cancer” over the past two years, and that he had decided to return the favor by co-signing Bankman-Fried’s bail.
Kramer was quick to point out that he had not been influenced to act as guarantor by any payments made to him by any FTX-related entity. Bankman-Fried himself has also denied that either guarantor has received payments from FTX or sister-firm Alameda Research.
The crypto community has been searching the web looking for more details on Paepcke, but there appears to be little information connecting him to Bankman-Fried outside of their association at Stanford University.
The two guarantors were allowed to be made public on Feb. 15, after being petitioned by eight major media outlets in a Jan. 12 letter. Bankman-Fried’s lawyers had sought to keep the two anonymous, arguing that the pair could be subject to intrusions, threats and harassment if their names were made public.
However, United States District Judge Lewis Kaplan disagreed, noting that the pair had voluntarily signed individual bonds in a “highly publicized criminal proceeding”, and had therefore opened themselves up to public scrutiny.
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