The revelation that two Stanford luminaries were involved in Bankman-Fried’s bail deal is the latest twist in a case that has captivated Silicon Valley. The federal government has accused Bankman-Fried, a prominent venture capitalist, of defrauding investors in two startups he founded.
Two Stanford luminaries are involved in Sam Bankman-Fried’s bail deal, which has captivated Silicon Valley. Bankman-Fried, a prominent venture capitalist, is accused of defrauding investors in two startups he founded.
The revelation of their identities comes as a surprise because both have denied any involvement in the alleged scheme.
- Who are the two people who co-signed Sam Bankman-Fried’s $250 million bail deal?
- What is their connection to Stanford University?
- Why did they agree to be guarantors?
- What will happen if Bankman-Fried fails to appear in court?
In a statement to CNN, Kramer described Joe Bankman and Barbara Fried as close friends 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,” Kramer said.
He added that he had “no business dealings or interest in this matter other than to help our loyal and steadfast friends.”
Prosecutors have described Bankman-Fried’s bail deal as one of the largest ever pre-trial bonds. But neither Bankman-Fried nor the guarantors will have to pay any amount unless he fails to show up to court.
Judge Lewis Kaplan ordered that the bonds be placed on the public court docket after an appeals court failed to rule in time on an objection from Bankman-Fried’s defense lawyers, who sought to keep the names redacted, citing concerns for their privacy and safety.
Prosecutors described Bankman-Fried’s bail deal as one of the largest ever pre-trial bonds. But neither Bankman-Fried nor the guarantors will have to pay any amount unless he fails to show up to court.
Judge Lewis Kaplan ordered that the bonds be placed on the public court docket after an appeals court failed to rule in time on an objection from Bankman-Fried’s defense lawyers, who sought to keep the names redacted, citing concerns for their privacy and safety.
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