Two people can be appointed to act as guarantors within one to two weeks.
The judge presiding over Sam Bankman-Fried‘s criminal case decided that the names of two bond signers can be released, according to documents filed Jan. 30.
Former FTX CEO Bankman-Fried was briefly detained in the United States after being extradited from the Bahamas on December 21. When he was released on bail on December 22, his parents signed a $250 million bond secured by their California home.
However, the bail process also involves two other smaller bonds of $500,000 and $200,000. The bonds were co-signed by two people acting as guarantors, at least one of whom was not a member of Bankman-Fried’s family.
Subsequently, on January 3, Bankman-Fried and her legal team requested that the names of those guarantors not be revealed for their personal safety and privacy.
Now, Federal Judge Lewis Kaplan has decided that the names of the two bail bondsmen can be released at the request of several news organizations. “In my opinion, personal ties should be public record,” Kaplan said in today’s court filing.
Kaplan gave several reasons for his decision. First, he noted that the identity of the bondsman had no direct relationship to Bankman-Fried’s release. The bond was not signed until the bond was released, and the magistrate who authorized Bankman-Fried’s release did not know the name of the bond. Kaplan reasoned that public knowledge of the collateral’s name would not affect future legal proceedings or enforcement.
Kaplan also argued that revealing the sponsor’s name would not compromise an individual’s security and privacy (other than attracting public attention). He further noted that bonds signed by a surety are traditionally posted in the name of the signer.
While the names of the two bail signers may be released soon, it won’t be until February 7 or 14, depending on whether Bankman-Fried’s team appeals the decision. If the appeal is successful, the names may remain confidential.
Due to the large number of people involved in the FTX debacle and the scope of the alleged conspiracy, the eventual release of these names will undoubtedly attract attention.
