As the FTX fraud case unfolds, many questions remain unanswered. However, one mystery will soon solve itself – that of the two anonymous individuals that co-signed Sam Bankman-Fried’s bail.
On Monday, District Judge Lewis A. Kaplan granted a motion by various news organizations to reveal the names of the two anonymous individuals who bailed out Sam Bankman-Fried.
Earlier, SBF’s lawyers argued that revealing the names of the two co-signatories would put them in danger. The judge allowed the defense up to Feb. 7. to appeal the decision.
Multiple media outlets, including Bloomberg, Reuters, and the Associated Press, filed a motion to reveal the names of the co-signatories. They cited public interest to reveal their identities.
SBF’s Bail: $250 Million Mystery
A federal judge in the case against SBF, who faces eight criminal charges, including wire fraud, deemed the defendant a flight risk. The judge awarded him a $250 million bail bond to release him from custody, one of the largest in history.
The agreement also required two other individuals besides his parents to co-sign for his bail. Two anonymous people signed bonds for $500,000 and $200,000, respectively.
The former billionaire, who said he was down to just $100,000, managed to make bail with the help of his parents. They co-signed the bail for the entire $250 million with SBF. The court also required them to put up 10% of the bail bond as collateral.
The astronomical bail sum raised questions about how his parents could afford that amount. Some have speculated that his parents put up their Palo Alto house as collateral, which would value the residence at $25 million. It is unclear whether this corresponds to the actual value of the property.
The identity of SBF’s bail co-signatories could give the public insights into his relationships and connections.
Disclaimer: Opinions expressed at Investing-press.com are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. Investing-press.com does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is Investing-press.com an investment advisor. Please note that investing-press.com participates in affiliate marketing.