On Tuesday, former FTX CEO Sam Bankman-Fried (SBF) appeared in court in front of judge Lewis Kaplan to plead not guilty to eight criminal charges that include two counts of wire fraud and six counts of conspiracy.
As SBF arrived at the courthouse in Manhattan, his SUV was swarmed by reporters and the crowd was so large that “Bankman-Fried’s mother was unable to exit the vehicle,” according to reports. SBF’s security team eventually managed to escort him into the courthouse.
In addition to pleading not guilty to the charges against him, SBF’s attorneys filed a motion to keep the names of the two signees who co-signed SBF’s $250 million bond sealed. The legal team argued that SBF’s parents are already facing risks as a result of their son’s case, and they want to ensure that the guarantors of the bail bond do not suffer the same fate.
SBF’s bond was unusual in that he did not have to pay any money upfront. Instead, his parents secured the bond with their house in Palo Alto, and four people co-signed the bond. If SBF fails to appear in court or violates his bail conditions, his parents’ Palo Alto home could be at risk, and the signees could be required to cover the remainder of the bond.
Despite filings opposing the sealing of the signees’ names, judge Kaplan approved the motion to keep them anonymous. Matthew Russell Lee from the Inner City Press noted that “co-signers’ names and info, including income, are routinely made public in the SDNY Magistrates Court, for less privileged defendants.”
