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SBF’s $250m bond guarantors to be revealed

sbfs-250m-bond-guarantors-to-be-revealed
Edited by
News
SBF’s $250m bond guarantors to be revealed

The US District jury has approved several petitions filed by media channels and news publishers to reveal the identities of two individuals who co-signed Sam Bankman Fried’s $250 million bond alongside his parents.

On Jan. 30, Lewis Kaplan, the US District judge overseeing Sam Bankman-Fried’s legal proceeding, approved the petition to reveal the identities of individuals who co-signed the outstanding $250 million bail

The jury responded to the four petitions filed separately by media outlets, urging the court to reveal the names of the two. The ruling is pending an appeal until Feb. 7, after which the individuals will be unmasked.

The media channels requesting for the identities of the two individuals include The Wall Street Journal, Bloomberg, and CoinDesk. The identities had been kept secret since Sam Bankman-Fried was released on bail. SBF’s lawyers suggested that the identities remain confidential to prevent the individuals from physical threats.

SBF’s bail conditions

Caroline Ellison, the former CEO of Alameda Research, and Garry Wang, FTX co-founder, pleaded guilty to fraud and other criminal charges laid upfront by prosecutors. The two execs also agreed to help law enforcement in the investigations. On the other hand, SBF pleaded not guilty, prompting the bail request by his lawyers.

Sam Bankman-Fried’s bail was signed by his parents and the two anonymous individuals who issued their Palo Alto home as collateral for his release. The bail was granted to SBF with several conditions. 

First, he was not supposed to leave the house unless he exercised. Secondly, the court limited his expenses to $1,000 unless permitted by the jury. He was also to undergo drug abuse and mental health treatment outside the court chambers.