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Stanford Faculty Members Emerge as Bankman-Fried’s $250M Bail Guarantors

BNN Bloomberg | Ava Benny-Morrison | Feb 15, 2023

Stanford co signers of SBFs bond - Stanford Faculty Members Emerge as Bankman-Fried's $250M Bail Guarantors

The two co-signers of SBF’s $250M bail bond were both members of Stanford University. Co-signer Andreas Paepcke is pictured on the left and co-signer Larry Kramer is pictured on the right.

Two people who co-signed FTX co-founder Sam Bankman-Fried’s $250 million bail package have been have been publicly identified as the former dean of Stanford’s law school and a senior research scientist at the elite university.

  • A New York federal judge on Wednesday unsealed the names of Larry Kramer, who served as Stanford Law School dean from 2004 to 2012, and computer scientist Andreas Paepcke.
    • Kramer remains an emeritus dean at Stanford Law, according to his online biography page, and is also president of the William and Flora Hewlett Foundation, one of the nation’s largest charitable foundations with around $15 billion in assets.
  • Bankman-Fried, who has pleaded not guilty to fraud charges over the collapse of FTX, has deep ties to Stanford. Both his parents are law school professors there, and he is currently living with them near campus.
    • Bankman-Fried’s parents also acted as guarantors and put their home up as security, though the land is actually owned by the university
    • Kramer and Paepcke had signed on as sureties for separate bonds of $500,000 and $200,000, respectively.

See:  Claw-back Risk: 1 in 3 Members of Congress Received ‘Cash Donation’ from FTX/SBF

  • Kramer said he and his wife had been close friends with Bankman-Fried’s parents, Joseph Bankman and Barbara 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. 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.”
    • Kramer remains an emeritus dean at Stanford Law, according to his online biography page, and is also president of the William and Flora Hewlett Foundation, one of the nation’s largest charitable foundations with around $15 billion in assets.

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