Former Stanford Law School dean Larry Kramer is a co-signer of disgraced FTX founder Sam Bankman-Fried’s $250 million bail (Source: Flightrisk for Fox News Digital).
FIRST ON FOX: The former dean of Stanford University Law School, who posted $500,000 bail to secure Sam Bankman-Fried’s release 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 the two guarantors who, along with Bankman-Fried’s parents, Stanford law professors Joseph Bankman and Barbara Fried, secured the release of the disgraced FTX founder from $250 million house arrest late last year secured US dollars.
Larry Kramer, who sponsored Sam Bankman-Fried’s $500,000 bail (Flight Risk for Fox News Digital)
The fourth co-signer, Stanford research scientist Andreas Paepcke, signed a $200,000 bond for Bankman-Fried but has yet to show up, days after a federal judge ordered that undredacted court documents showing the identities of the remaining bail supporters, be published to the public.
The names of Kramer and Paepcke were hidden from the public for several weeks at the urging of the Bankman-Fried defense team, who argued that this was for the safety of the co-signers.
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Lawyers argued that the defendant’s parents had faced harassment and physical threats since FTX’s collapse and bankruptcy in November, and that security concerns increased after their son’s release. Bankman-Fried’s attorneys fear Kramer and Paepcke could face similar threats.
Sam Bankman-Fried leaves court in New York on January 3, 2023. The former FTX and Alameda CEO has been released on $250 million bail. (Fatih Aktas/Anadolu Agency via Getty Images/Getty Images)
Ultimately, U.S. District Judge Lewis Kaplan agreed to unseal the non-parental bail bondsmen’s names at the urging of multiple media outlets, who argued it was in the public interest in the high-profile case.
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Bankman-Fried remains under house arrest at his parents’ home in Palo Alto, California, while awaiting trial this fall on multiple charges related to the collapse of his cryptocurrency exchange that caused customers to lose billions of dollars.
General views of Sam Bankman-Fried’s childhood home in Pablo Alto on December 13, 2022. (Flying Risk for Fox News Digital. / Fox News)
But Judge Kaplan hinted Thursday that Bankman-Fried could find himself back behind bars while awaiting trial after prosecutors raised concerns the former crypto king was using virtual private networks (VPNs), encrypted messaging apps used and possibly tampered with witnesses — all of which led to the tightening of his bail conditions for possible violations.
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FOX Business’ Marta Dhanis contributed to this report.