FIRST ON FOX: The former dean of Stanford University Law School who signed a $500,000 bail to secure the release of Sam Bankman-Fried from house arrest has been spotted for the first time since his identity was revealed by court order earlier this week.
Larry Kramer was identified Wednesday as one of two guarantors who, along with Bankman-Fried’s parents, Stanford professors Joseph Bankman and Barbara Fried, released the $250 million disgraced FTX founder from house arrest late last year.
The fourth co-signer, Stanford researcher Andreas Paepcke, signed $200,000 bail for Bankman-Fried but has not shown his face days after a federal judge ordered that unredacted court documents revealing the identity of the remaining guarantors show are released to the public.
The names of Kramer and Paepcke were hidden from the public for several weeks at the insistence of Bankman-Fried’s defense team, who claimed it was for the safety of the co-signers.
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The lawyers argued that the defendant’s parents have faced harassment and physical threats since FTX collapsed and went bankrupt in November, and that security concerns increased after their son’s release. Bankman-Fried’s lawyers fear that Kramer and Paepcke will face similar threats.
Ultimately, U.S. District Judge Lewis Kaplan agreed to release the names of the non-parental sureties at the urging of several media outlets, who claimed it was in the best interest of the public in the high-profile case.
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Bankman-Fried is still under house arrest at his parents’ home in Palo Alto, California, as he awaits trial this fall on several charges related to the collapse of his cryptocurrency exchange, which lost customers billions of dollars.
But Judge Kaplan hinted Thursday that Bankman-Fried could face back behind bars while he awaits trial after prosecutors raised multiple concerns that the former crypto king was using virtual private networks (VPNs), encrypted messaging apps and possibly tampering with witnesses. – all of which resulted in his bail conditions being tightened for potential violations.
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Marta Dhanis of FOX Business contributed to this report.