Stanford Alumni Revealed as Co-Signers of FTX Co-Founder’s $250M Bond

According to the latest court documents in a fraud case involving former FTX CEO Sam Bankman-Freed in Manhattan, the New York judge presiding over the case unsealed the documents signing the Bankman-Freed bond on Wednesday. The names of the two bail bondsmen, who were previously removed from court documents, are Stanford alumni Larry Kramer and Andreas Paepke.

Details emerge about SBF bail signers

Sam Bankman-Fried (SBF), co-founder of FTX, is charged with eight counts of financial misconduct, allegedly related to the misuse of client funds. He is currently on bail and is being monitored with an ankle bracelet, with a trial set for October 3, 2023. A $250 million SBF bond agreement was secured by his parents’ faculty home at Stanford, and the two co-authors signed the agreement. However, their names were previously unknown as lawyers argued that they should remain redacted for privacy reasons.

Stanford alumni co-sign FTX co-founder's $250 million bond
Two of the guarantors of the $250 million SBF bail were members of Stanford University. Co-author Andreas Paepke is pictured on the left, and co-author Larry Kramer is pictured on the right.

Wednesday New York Judge printed out previously redacted names of two co-authors showing that they were prominent members of Stanford University. One of the co-borrowers was Larry Kramer, former dean of Stanford Law School from 2005 to 2012. The other co-borrower was Andreas Paepke, a senior fellow in computer science at Stanford University. Cramer is president of the leftist Hewlett Foundation, which aims to support “effective philanthropy.” He called the SBF parents “most loyal friends”. In a statement sent to several media outlets, Kramer said:

Joe Bankman and Barbara Freed have been close friends of my wife and me since the mid-1990s. During the past two years, when my family faced a painful battle with cancer, they were the most loyal friends – they brought food, provided moral support and often stepped in to help at any moment. In turn, we have sought to support them as they face their own crisis.

According to reports, several news outlets tried to get a comment from computer science researcher Andreas Paepke, but he did not respond to requests. According to his biography, Paepke is interested in “interfaces and systems” and uses “data analytics to build the tools that benefit these online efforts.” Some people on Twitter also commented about the similarities between SBF and Paepcke. SBF said journalist Tiffany Fong that none of the bond sureties “received payments from FTX or Alameda.”

What do you think about the disclosure of the guarantors in the bail agreement for Sam Bankman-Fried? Share your thoughts in the comments below.

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