{"id":1839939,"date":"2023-02-08T12:20:18","date_gmt":"2023-02-08T17:20:18","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1839939"},"modified":"2023-02-08T12:23:27","modified_gmt":"2023-02-08T17:23:27","slug":"identities-of-sam-bankman-frieds-other-bail-backers-may-be-revealed","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/identities-of-sam-bankman-frieds-other-bail-backers-may-be-revealed\/","title":{"rendered":"Identities of Sam Bankman-Fried&#8217;s Other Bail-Backers May Be Revealed"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fidentities-of-sam-bankman-frieds-other-bail-backers-may-be-revealed%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1839939&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Ira Sorkin, Mintz &#038; Gold partner, discusses whether Sam Bankman-Fried, accused fraudster, will lose his criminal case on The Claman Countdown.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Federal courts may release the names of bail backers to the parents who assisted them as early as Tuesday <a href=\"https:\/\/www.foxbusiness.com\/category\/sam-bankman-fried\" target=\"_blank\" rel=\"noopener\">Sam Bankman Fried, founder of FTX<\/a> While he waits for trial on fraud charges, he will be released on a bond of $250,000,000.<\/p>\n<p>U.S. District judge Lewis Kaplan of New York&#8217;s Southern District granted permission to multiple news organizations to file a motion. They argued that the public would benefit from the revelation of the two secret bail backers due his close connections with prominent figures in the financial industry and politicians.\u00a0<\/p>\n<p>Unless Bankman-Fried&#8217;s lawyers appeal the decision, which could delay disclosure until February 14 due to the outcome of the appeal, the identities the two unknown bail backers might be made public on Tuesday Feb. 7, unless Bankman-Fried\u2019s attorneys appeal it. Kaplan pointed out in his ruling to unseal the names the bail guarantors who an &#8220;appeal is likely&#8221; Bankman-Fried&#8217;s defense group will make the decision.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/ftx-seeking-return-sam-bankman-fried-political-donations\" target=\"_blank\" rel=\"noopener\"><strong>FTX SEEKING RETURN FROM SAM BANKMANFRIED\u2019S POLITICAL DONATIONS<\/strong><\/a><\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/12\/931\/523\/SBF-US-RELEASE-GETTY.jpg?ve=1&#038;tl=1\" alt=\"Bankman-Fried leaves New York arraignment\"   style=\"display:none\"><\/div>\n<div class=\"caption\">\n<p><span>After his arraignment at New York City&#8217;s Dec. 22, 2022 hearing, Sam Bankman-Fried (FTX founder), leaves. Gabriel Gorenstein, a New York judge, ordered Bankman-Fried to be released on $250million bail while he awaits his trial for criminal fraud over FTX.<\/span><span> (Photo by Ed JONES \/ AFP \/ Getty Image)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Kaplan stated in his opinion, &#8220;While the public had only a&#8230;&#8221; &#8220;weak&#8221; Right to know the identities unknown bail backers. This interest outweighed any arguments Bankman-Fried&#8217;s defense group made in an effort to keep confidentiality.\u00a0<\/p>\n<p>Joseph Bankman and Barbara Fried are Stanford Law School professors. They cosigned the $250 million bond for their son with two other guarantors, who each signed $500,000 bonds and $200,000 bonds.\u00a0<\/p>\n<p>According to Bankman-Fried&#8217;s lawyers, his parents were subject to harassment and threats ever since FTX collapsed. <a href=\"https:\/\/www.foxbusiness.com\/category\/bankruptcy\" target=\"_blank\" rel=\"noopener\">Bankruptcy<\/a> In November. In a court filing, they claimed that three men drove their car into the metal barrier outside the family&#8217;s home. He is currently under house arrest as per his bail agreement.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/markets\/sam-bankman-fried-barred-contacting-ftx-employees-using-signal-messaging-app\" target=\"_blank\" rel=\"noopener\"><strong>SAM BANKMANFRIED PROHIBITED FROM CONTACTING FTX EMPLLOYEES USING SIGNAL MESSAGING APP<\/strong><\/a><\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/12\/931\/523\/FTX-Crypto-Sam-Bankman-Fried-Leaves-Court20221222_0094.jpg?ve=1&#038;tl=1\" alt=\"FTX Sam Bankman-Fried Court\" \/><\/div>\n<div class=\"caption\">\n<p><span>Sam Bankman Fried, center, walks out of the Federal Court in New York City, Thursday, December 22, 2022. The $250 million bail has been granted to the ex-CEO of FTX, Alameda.<\/span><span> (Charles Guerin\/Abaca Fox News Digital \/ Fox News<\/span><\/p>\n<\/div>\n<\/div>\n<p>Bankman-Fried&#8217;s lawyers argued that the identity of the two unidentified bail backers should be kept under seal in light of these threats. &#8220;serious cause for concern&#8221; They could face similar threats.<\/p>\n<p>Kaplan disagreed with this argument and wrote &#8220;The amounts of the individual bonds \u2013 $500,000 and $200,000 \u2013 do not suggest that the non-parental sureties are persons of great wealth or likely to attract attention of the types and volumes of that to which the defendant&#8217;s parents appear to have been subjected.&#8221;<\/p>\n<p>It is very rare for courts to keep the identities bail guarantors&#8217; under seal indefinitely. Bankman-Fried&#8217;s legal staff includes <a href=\"https:\/\/www.foxbusiness.com\/markets\/sam-bankman-fried-caroline-ellison-retain-high-powered-white-collar-lawyers-amid-ftx-probe\" target=\"_blank\" rel=\"noopener\">Mark Cohen<\/a>Ghislaine Maxill&#8217;s lawyer,, was also present at the Jeffrey Epstein trial. Maxwell&#8217;s legal team successfully appealed to keep her bail guarantors under seal \u2013 although her bail request was ultimately rejected.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/business-leaders\/ftx-crypto-founder-sam-bankman-fried-thought-jail-would-be-like-shawshank-redemption-report\" target=\"_blank\" rel=\"noopener\"><strong>FTX CRYPTO FOUNDER THINKS JAIL WOULD BE \u2018LIKE THE SHAWSHANK REDEMPTION\u2019REPORT<\/strong><\/a><\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/12\/931\/523\/AP22347714617727.jpg?ve=1&#038;tl=1\" alt=\"A photo of U.S. Attorney Damian Williams\" \/><\/div>\n<div class=\"caption\">\n<p><span>U.S. attorney Damian Williams addresses a news conference regarding the criminal charges against FTX founder Sam Bankman Fried. It was held in New York on Tuesday, December 13, 2022. The U.S. Securities and Exchange Commission (USSEC) has indicted the former CEO of faile<\/span><span> (AP Photo\/Julia Nikhinson \/ AP Newsroom).<\/span><\/p>\n<\/div>\n<\/div>\n<p>If Bankman-Fried leaves the country, his parents and two unknown bail guarantors will be responsible for the bond. His parents could face the forfeiture their $3.5 million home.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/federal-prosecutors-charge-bankman-fried-8-counts-conspiracy-fraud-charges\" target=\"_blank\" rel=\"noopener\"><u>Bankman-Fried faces eight charges<\/u><\/a> He was charged with wire fraud on customers as well as a related conspiracy. Wire fraud on lenders is a separate charge. A conspiracy charge also applies. There are conspiracies to violate campaign finance laws, commodities fraud, securities and money laundering. He has <a href=\"https:\/\/www.foxbusiness.com\/markets\/ftx-founder-sam-bankman-fried-pleads-not-guilty\" target=\"_blank\" rel=\"noopener\"><u>I pleaded not guilty<\/u><\/a> All charges.\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/apps-products\" target=\"_blank\" rel=\"noopener\"><strong><u>GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/a><\/p>\n<p>In total, the charges Bankman-Fried faces carry a total potential sentence of up to 115 years in prison based on federal sentencing guidelines for those crimes \u2013 although if convicted he might not face maximum sentences on all the counts against him.\u00a0<\/p>\n<p>The trial of Bankman-Fried is tentatively set to start in October.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ira Sorkin, Mintz &#038; Gold partner, discusses whether Sam Bankman-Fried, accused fraudster, will lose his criminal case on The Claman Countdown. Federal courts may release the names of bail backers to the parents who assisted them as early as Tuesday Sam Bankman Fried, founder of FTX While he waits for trial on fraud charges, he &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1839942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[18050,8222,12281,4688,6912],"class_list":["post-1839939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bail-backers","tag-bankman-frieds","tag-identities","tag-revealed","tag-sam"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1839939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1839939"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1839939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1839942"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1839939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1839939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1839939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}