Stanford academics among those who signed FTX founder’s bail bond

Sam Bankman-Fried leaves court in New York on January 3, 2023.

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Two notable Stanford academics are among those who signed disgraced FTX founder Sam Bankman-Fried’s $250 million bail package, the Associated Press reported.

Unsealed court documents released Wednesday show that Larry Kramer, dean emeritus of Stanford Law School, and Andreas Paepcke, Stanford senior investigator, agreed to pay $500,000 and $200,000, respectively, if Bankman-Fried decides to close the city. leaving before his upcoming trial. He is being charged with fraud after running a cryptocurrency exchange that reportedly lost billions in merchant deposits.

Longtime Stanford professors, Bankman-Fried’s parents were supposed to teach before their son passed away, then canceled their upcoming classes for 2023. Bankman-Fried was released from their Palo Alto home in December on $250 million bail.

Kramer wrote in an email to the Associated Press that he and Bankman-Fried’s parents had been “the closest of friends” for more than 25 years, including during a “harrowing battle with cancer” his family recently faced.

“In turn, we have tried to support them as they face their own crisis,” Kramer told the news service. “My actions are in a personal capacity and I have no business dealings or interest in this cause except to help our loyal and steadfast friends. Nor do I have any comment or position regarding the substance of the legal matter itself, for which the trial will serve.”

Paepcke’s connection to the Bankman-Fried family, other than the connection to Stanford, is obscure. He has not yet publicly commented on the bond.

Bankman-Fried has been sentenced twice to appear in court for hearings related to his bail package. He has pleaded not guilty to the fraud charges brought against him in December and may face trial in October.






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