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As the FTX fraud case came to light, many questions remained unanswered. However, one mystery is about to be solved by itself – the mystery of the two anonymous individuals co-signed Sam Bankman-Fried’s bail.
On Monday, District Judge Lewis A. Kaplan granted motions from various news organizations to reveal the names two anonymous individuals who ransomed Sam Bankman-Fried.
Previously, SBF lawyers argued that disclosing the names of the two co-signers would put them at risk. The judge allowed the defense until February 7 to appeal the decision.
Various media outlets, including Bloomberg, Reuters and the Associated Press, filed motions to reveal the names of the co-signers. They cite the public interest to reveal their identity.
SBF Collateral: $250 Million Mystery
A federal judge in the case against SBF, which faces eight criminal charges, including wire fraud, deemed the defendant an aviation risk. The judge gave him $250 million bail to release him from custody, one of the largest in history.
The agreement also required two other people besides his parents to co-sign the guarantee. Two anonymous individuals signed bonds for $500,000 and $200,000, respectively.
The former billionaire, who says he is down to just $100,000, managed to bail out with the help of his parents. They co-signed guarantees for all of the $250 million with SBF. The court also asked them to provide 10% of the bail as security.
The astronomical bail amount begs the question of how his parents could afford that amount. Some have speculated that his parents gave away their Palo Alto home as collateral, which would value the residence $25 million. It is unclear whether this corresponds to the actual value of the property.
The identity of the signatories to the SBF collateral can provide public insight into their relationships and connections.
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