According to reports, Stanford University students have become obsessed with the mansion where disgraced FTX founder Sam Bankman-Fried is currently under house arrest.
Bankman-Fried is confined to his parents’ $4 million home located near the university’s campus while awaiting trial for allegedly defrauding FTX customers out of billions of dollars.
Both of his parents are longtime professors at Stanford’s law school, and the Bankman-Fried family estate has become an unofficial campus landmark. As a security measure, Stanford has closed off roads near the house.
One Stanford student reportedly admitted to using wire cutters to steal a “path closed” sign near the barriers set up to prevent access to Bankman-Fried’s home.
The anonymous student said they managed to withdraw around $80,000 in cryptocurrency from FTX just before the platform imploded.
Another attendee, a neuroscience PhD student and cryptocurrency investor, pointed out the Bankman-Fried house while walking on campus with a date.
He expressed his thoughts on how ironic it is that someone could live on campus due to a massive uncovered fraud.
An unnamed sophomore stated that there was a “weird voyeurism” on campus regarding the house and Bankman-Fried’s fall from grace.
She said she turned down an invitation from friends to see the house, saying that there is a perverse desire to know what could have been.
In January, Bankman-Fried’s attorneys said in a court filing that a car had driven into a metal barricade set up outside the home as a security precaution.
Bankman-Fried’s parents put up their home as collateral to help secure his record $250 million bail package. If the 30-year-old does not comply with the terms of his bail, his parents could lose the property.
In February, court filings revealed that two other individuals with close ties to Stanford University had served as guarantors on the bail package.
The guarantors were identified as Larry Kramer, the dean emeritus of Stanford Law School, and Andreas Paepcke, a senior research scientist and computer science expert at the school.
Some of Bankman-Fried’s actions while under house arrest have drawn scrutiny. US District Judge Lewis Kaplan applied new bail restrictions after Bankman-Fried used a VPN to access the internet.
Bankman-Fried’s lawyers claimed he had used the VPN to watch the Super Bowl. Prosecutors have now asked that Bankman-Fried be limited to using a flip phone that lacks internet access while on bail.
The Washington Post reached out to representatives for Bankman-Fried and Stanford University for comment on this matter.