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This is, in fact, how bail works. But you can often get a bail bond (from a third party) for 10%-20% of the bail amount.
But that 10% is a non-recoverable fee, right? It seems insane they would have agreed to pay a third party $25M as a non-recoverable fee.
Also covered on WSJ ( https://www.wsj.com/articles/sam-bankman-fried-to-make-first... ) Notably, he is going to make a plea deal: “Mr. Bankman-Fried at a later date will enter a plea on charges that he engaged in fraud and other offenses, the judge said.” If he is doing a deal with prosecutors, you have to wonder what he is getting in return?
> Notably, he is going to make a plea deal That’s not what the article says. It says he will enter a plea later. To enter a plea means to plead guilty or not guilty. All they are saying is that he hasn’t said either way yet.
Also any informed opinion regarding her plea deal: Generous, not-generous, unusual, routine? ianal but 110 years to 0 years seems pretty sweet. Also didn't note any agreement to forever stay away from other people's money (since she agreed that she "is in fact guilty" [of conspiracy to defraud, wire-fraud, ..]
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> Notably, he is going to make a plea deal That’s not what the article says. It says he will enter a plea later. To enter a plea means to plead guilty or not guilty. All they are saying is that he hasn’t said either way yet.
Gary Wang and Caroline Ellison did make a plea deal so that makes it seem like they are going to fully prosecute SBF. Any deal SBF makes will likely be to keep him from spending the rest of his life in prison.
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> I feel sorry for his parents - legal fees is going to financially wipe them out and any plans for retirement. Losing your money sucks but it's preferable to losing your freedom. It is very likely the parents are guilty of abetting or enabling the fraud in some way. SBF "agreed" to be extradited, that implies some negotiation. The only possible incentive I can think of him agreeing to what is shaping up to be a slam…
Or he just wanted out of rat-infested Bahamian prison.
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The Daily Mail has more info on this: "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…
Bail is virtually always a bond , guaranteed by a bail-bonds agency. The bailee typically puts up 10% of the value of the bail, so here, $25 million.
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Bail is virtually always a bond , guaranteed by a bail-bonds agency. The bailee typically puts up 10% of the value of the bail, so here, $25 million.
But generally that is a fee not a deposit the detainee gets back. That's a big fee. From me understanding some jurisdictions will allow you to cut out the bailbonds company, and give a 10% deposit for the bail (still on hook for the full money) maybe that is what happened here?
I've described my understanding of the general case, however.
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But that 10% is a non-recoverable fee, right? It seems insane they would have agreed to pay a third party $25M as a non-recoverable fee.
I thought it was only if you skip town
Caroline Ellison appears to be flying under the radar here. Granted she kept her mouth shut but what's keeping others uninterested here? Also any informed opinion regarding her plea deal: Generous, not-generous, unusual, routine? ianal but 110 years to 0 years seems pretty sweet. Also didn't note any agreement to forever stay away from other people's money (since she agreed that she "is in fact guilty" [of conspiracy…