He was released from federal custody in Manhattan on a $250 million bond after being extradited from the Bahamas to face fraud and money laundering charges in connection with the collapse of FTX.
As part of the terms of his release, one of his sponsors posted $500,000 bail while the other chipped in $200,000, according to court papers seen by the news site Insider. The identity of the two individuals remains secret at the request of Bankman-Fried’s attorneys who say that publicizing their names could pose a security risk.
Christian Everdell, one of Bankman-Fried’s lawyers, revealed the size of the contributions so that the federal judge overseeing the case — US District Judge Lewis Kaplan — would include them in the bail condition documents, according to Insider.
“We therefore respectfully request that the Court update the bail conditions to reflect that the two non-parent sureties will sign separate appearance bonds prepared by the Magistrate Clerk’s office in the amount of $500,000 and $200,000, respectively,” Everdell wrote.
Several media outlets petitioned Kaplan to unseal the identities of the two bail sponsors. However, the judge ruled last week the names “shall remain under seal” until he issues a final ruling on the matter.
The bond was also secured after Bankman-Fried’s parents — Stanford law professors Joseph Bankman and Barbara Fried — put up their home as collateral.