Two Stanford University employees were revealed Wednesday as the previously unidentified co-signers of disgraced FTX founder Sam Bankman-Fried’s record $250 million bail package.
Unsealed court records named the guarantors as Larry Kramer, the dean emeritus of Stanford Law School, and Andreas Paepcke, a senior research scientist and computer science expert at the elite institution.
Bankman-Fried’s family has deep ties to Stanford, where his parents are law professors. Kramer is a close friend of the accused crypto fraudster’s parents, Joseph Bankman and Barbara Fried.
Bankman-Fried was born on Stanford’s campus. Paepcke’s connection to the family was not immediately clear.
Kramer, who was dean of law school from 2005 to 2012, signed a $500,000 bond on Bankman-Fried’s behalf, while Paepcke signed a $200,000 bond. The bonds represent the amount of money that Kramer and Paepcke would owe if Bankman-Fried does not return to court as mandated.
In a statement, Kramer said he and his wife have been “close friends” with Bankman and Fried since the “mid-1990s.”
“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,” Kramer said.
“In turn, we have sought to support them as they face their own crisis,” Kramer added. “My actions are in my personal capacity, and I have no business dealings or interest in this matter other than to help our loyal and steadfast friends. Nor do I have any comment or position regarding the substance of the legal matter itself, which is what the trial will be for.”
The identities of Bankman-Fried’s co-signers had been a subject of rampant speculation. Bankman-Fried’s attorneys initially signaled they would appeal District Judge Lewis Kaplan’s decision to unseal the names.
Kaplan ordered the records unsealed after noting that Bankman-Fried’s legal team had made “no application for a further stay.”
Bankman-Fried has been under house arrest since his parents secured his release by putting up their home as collateral on a $250 million bond.
He faces eight federal charges and up to 115 years in prison for allegedly bilking FTX customers out of billions of dollars — money that he allegedly used to fund a lavish lifestyle and prop up risky bets at his cryptocurrency hedge fund Alameda Research.
The Post has reached out to Stanford University and Paepcke for comment.
Bankman-Fried’s parents have faced scrutiny over their ties to FTX prior to the cryptocurrency platform’s downfall — with new FTX CEO John Ray telling Congress in December that the pair had “received payments” from the company.
Bankman-Fried’s lawyers have said that his parents have received harassment and threats following FTX’s bankruptcy and had previously warned of “serious cause for concern” that the guarantors would experience similar treatment if their names were released.
Bankman-Fried’s case is set to go to trial in October.
With Post wires
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