Judge Rules People Who Posted SBF’s Bail Should Be Named

On Monday, a US judge said that the identity of the two people who posted the bail for the Sam Bankman-Fried should be revealed to the public.

However, the judge opted to put his ruling on hold as an appeal in the matter is expected.

The ruling

The ruling from US Judge Lewis Kaplan, who is overseeing the case against the indicted founder of the FTX crypto exchange, came in favor of a number of media outlets that had demanded the names.

According to the judge, even though the right of the public to know the names of those who had guaranteed Bankman-Fried’s bail was a ‘weak’ one, it outweighed the arguments made.

These included that confidentiality because the safety of the guarantors could be at risk. According to Kaplan, the names of the two guarantors would not be disclosed until February 7th.

The US judge said that this was primarily because the question that had been put forward was a rather novel one, due to which there was going to be an appeal.

The 30-year old disgraced crypto entrepreneur pled not guilty to the eight charges that have been filed against him and are currently confined to his parent’s house in California.

The parents

Both of SBF’s parents are professors at Stanford Law School and the two also signed the bond for their son worth $250 million.

There were also two more guarantors who had signed bonds worth $500,000 and $200,000, respectively.

Lawyers of Sam Bankman-Fried said that since the downfall and bankruptcy of FTX, the parents of its co-founder had been harassed and had also been on the receiving end of physical threats.

They stated that this meant that similar treatment could also be directed towards the two guarantors, where their identity was to be revealed.

The judge

However, it appears that Kaplan did not agree with the attorneys, as he said that SBF’s parents had already been dealing with a great deal of public scrutiny because of their relationship with their son, even before they posted bail.

Kaplan said that the amount of the bonds posted by the non-parental sureties did not indicate that the people are very wealthy.

The judge said that it was unlikely that the two sureties would attract the same type or volume of attention that had been directed towards the parents of the defendants, who had been worth $26 billion at one time.

The case was distinguished by media outlets from the decision of another judge who had not opted to reveal the identity of the individual guaranteeing a bond for Ghislaine Maxwell, a longtime associate of Jeffrey Epstein.

They asserted that the stigma of being associated with the late sex offender was worse than that of being associated with Sam Bankman-Fried. Maxwell had later been convicted.

Some of the media outlets that have been demanding that the identity of the guarantors be revealed include Reuters, Dow Jones, the Financial Times, CoinDesk, the New York Times, CNBC, the Washington Post, Bloomberg, and the Associated Press.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *



✉ Contact | Disclaimer