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FTX founder’s bail signatories include 2 family friends


Associated Press

NEW YORK (AP) — Two Stanford University academics signed on to FTX founder Sam Bankman-Fried’s $250 million bail package, enabling him to live with his parents while awaiting trial on fraud charges. Manhattan federal court papers unsealed Wednesday show that Larry Kramer, dean emeritus of Stanford Law School, and Andreas Paepcke, a senior research scientist at Stanford, pledged to pay a total of $700,000 if Bankman-Fried flees. Kramer is on the hook for $500,000 while Paepcke has agreed to pay $200,000. Neither was required to post collateral to support the man charged with cheating investors in his cryptocurrency business. The names were unsealed at the request of news organizations.

Article Topic Follows: AP National Business

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