On Wednesday, a Manhattan federal judge approved an unsealing motion from media companies, including CNBC, revealing the names of two of FTX’s co-founder Sam Bankman-Fried’s guarantors. Bankman-Fried was released on a $250 million recognizance bond in December after being indicted on criminal fraud charges. There were four guarantors, including his parents, to ensure Bankman-Fried’s cooperation with pretrial detention requirements. The other two guarantors are known to be Larry Kramer, president of the William and Flora Hewlett Foundation and dean emeritus at Stanford Law School, and Andreas Paepcke, a senior research scientist at Stanford University. Their names had been sealed, but several media outlets moved to make their identities public.
Both of Bankman-Fried’s parents, Joe Bankman and Barbara Fried, are on the faculty of Stanford. They live near the university. “Joe Bankman and Barbara Fried have been close friends of my wife and I since the mid-1990s,” Kramer told CNBC’s Eamon Javers. “During the past two years, while my family faced a harrowing battle with cancer, they have been the truest of friends — bringing food, providing moral support, and frequently stepping in at moment’s notice to help. In turn, we have sought to support them as they face their own crisis.” Kramer said he was acting “in my personal capacity” and has “no business dealings or interest in this matter other than to help our loyal and steadfast friends.” Kramer signed a $500,000 unsecured bond, while Paepcke signed the same type of bond for $250,000.
