SBF bond signers revealed to be former Stanford faculty; FTX bankruptcy judge rules against probe

Two notable developments concerning the bankrupt crypto steadfast FTX and its erstwhile CEO, Sam Bankman-Fried, occurred successful tribunal connected Feb. 15.

Stanford members signed SBF bail bond

Previously, Judge Lewis Kaplan allowed 2 individuals who signed Sam Bankman-Fried’s bail bonds to beryllium publically identified during his transgression trial.

Court documents contiguous revealed that those enslaved signers (or sureties) were a Stanford University elder probe idiosyncratic and a erstwhile Stanford Law dean who signed a $200,000 enslaved and a $500,000 bond, respectively.

Bankman-Fried’s parents are professors astatine Stanford University. In comments to Coinbase, the erstwhile dean said that his relationship with the household was the crushed helium posted bail.

Bankman-Fried asked for the 2 enslaved signatories to stay backstage connected Jan. 3. The justice approved the uncover of their identities connected Jan. 30, but Bankman-Fried was fixed clip to record an appeal. As a result, the identities of the signers were not disclosed until today.

FTX needs nary further probe

In FTX’s abstracted bankruptcy proceedings, a justice ruled that an further autarkic probe is not indispensable and denied a question to name an autarkic examiner.

Judge John Dorsey said that appointing an autarkic examiner would outgo tens of millions of dollars and would apt surpass $100 million. This, helium said, would enforce indirect costs connected creditors (or erstwhile customers) by reducing their eventual compensation.

The justice noted that FTX’s replacement CEO, John Ray III, has appointed autarkic directors and experts with precise small transportation to FTX to look into the company’s past actions. He said that those parties are competent to instrumentality connected the task.

Judge Dorsey decided that the established instrumentality does not necessitate an examiner to beryllium appointed and that the tribunal tin contradict the assignment of an examiner.

The U.S. Department of Justice was down archetypal calls for an examiner. The justice was undecided connected whether to name an examiner arsenic precocious arsenic Feb. 6.

The station SBF enslaved signers revealed to beryllium erstwhile Stanford faculty; FTX bankruptcy justice rules against probe appeared archetypal connected CryptoSlate.