FTX Hearing: SBF’s $250 Million Bail Guarantors Should Be Made Public-Judge

FTX Hearing – Following a recent ruling by United States District Judge Lewis Kaplan. The identities of the two people who assisted former FTX CEO Sam Bankman-Fried with his $250 million bail bond could be revealed next month.

iexclusivenews reports that according to the Jan. 30 filing, Kaplan granted a joint petition from eight media outlets to unseal the two individuals’ identities “for the limited purpose of asserting the public’s claimed right of access” to the identities.

He did, however, observe that there was little weight in favor of either side of the debate.

The release of the guarantors’ names is also not guaranteed, as Kaplan has given Bankman-legal Fried’s counsel until February 7 to appeal the decision.

The judge wrote that a “appeal is likely” and that “if a notice of appeal from this order is filed by then,” he would extend the deadline to Feb. 14 to allow for a further stay application.

Bankman-Fried was released in December after two unknown individuals signed on as sureties for the $250 million bond, along with Bankman-parents, Fried’s Joseph Bankman and Barbara Fried.

In a letter to District Court Judge Lewis Kaplan dated Jan. 12, eight major media companies, including Bloomberg, the Financial Times, and Reuters, demanded public disclosure of the two individuals responsible for guaranteeing the bond.

Davis Wright Tremaine LLP attorneys representing the media conglomerates argue that “the public’s right to know Bankman-guarantors Fried’s outweighed their privacy and safety rights.”

What You Should Know

Bankman-lawyers, Fried’s on the other hand, have continued to argue that their identities should be kept hidden because his parents have already received threats and the FTX founder and those associated with him face serious security risks.

In his decision, Kaplan stated that he has “no reason” to doubt that threats had occurred but had yet to see “evidence to that effect.”

“But it does not follow that the non-parental sureties would face similar threats and harassment.”

Kaplan also claimed that Bankman-parents Fried’s were subjected to intense scrutiny because of their close relationship with their son and his father’s employment at FTX for a year before the exchange’s demise.

“Thus, the defendant’s claim that the non-parental sureties would face similar intrusions is speculative and only entitled to modest weight,” he said.

“Moreover, the information sought, ie, the names of the bail sureties, traditionally is public information,” Kaplan added.

Lawyers for the former FTX CEO claimed in a court filing on Jan. 19 that three men drove a car into the metal barricade outside Bankman-parents’ Fried’s home, where he is under house arrest.

iexclusivenews Nigeria reports that The unidentified trio allegedly drove away before security guards could record the license plate of the car.