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Note: as a practical matter, SBF's out-of-pocket is probably between 25-50 million (bondsmen normally charge 10%-20%, depending on risk factors and bail amount), and SBF's parents have this much in assets and savings to cover it (and can probably take loans to cover any shortfall), though this will definitely wipe out any of their legitimate holdings.
Earlier quoted context omitted.
Likely needed 25M for actually posting bail. He also did a lot of nice things and has a lot of friends, not to mention family. No big stretch of the imagination here.
Which bail bond company came up with the other $225M?
His ex-girlfriend and CEO of Alameda really put the nail in the coffin. Turned on him for 250K$ bail, forfeiture of all assets and basically no prosecution (except some taxes) as long as she co-operates. Probably dropped the entire playbook of Sam and made the case irrefutable and ironclad. https://s3.documentcloud.org/documents/23495436/crypto-coope...
Wait. Only a few days ago he declared he had less than 100k on his bank account and now he forks out 250m? It's hard to believe anything else he said.
His parents had to put up their home for the bond.
edit: i.e., it is far more likely to be a 25M home than a 250M home, because I've never heard of a 250M home.
Earlier quoted context omitted.
His parents had to put up their home for the bond.
Had to give up their home for the bond? edit: i.e., it is far more likely to be a 25M home than a 250M home, because I've never heard of a 250M home.
How does he have 10% of that? "His parents, both Stanford Law professors who were present in the courtroom, will put up the equity in their home to partially satisfy bail conditions." Sure their bay area home is worth millions but not that much.
"His parents, Stanford Law professors Barbara and Alan Bankman-Fried, have agreed to put up the equity they own in their $4million California home, where he will live during his house arrest, as part of the bail requirement.
Two other people - one relative and one non-relative - will fulfil the rest of the bond. It remains unclear if he is required to pay the full $250million or a portion of it."
Earlier quoted context omitted.
Likely needed 25M for actually posting bail. He also did a lot of nice things and has a lot of friends, not to mention family. No big stretch of the imagination here.
Which bail bond company came up with the other $225M?
Earlier quoted context omitted.
Likely needed 25M for actually posting bail. He also did a lot of nice things and has a lot of friends, not to mention family. No big stretch of the imagination here.
Which bail bond company came up with the other $225M?
But bail bonds companies typically only post 10% of the amount.