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How does it work then?
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.
There’s no way his parents are forking over their home to a bails bondsmen. There’s also no bail bond man who has $250m.
Impressive. He was just short 10B of customer funds and managed to come up with 250M so quickly! Must be a legendary trader.
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They're free to let him take a plea deal and go to prison
As a parent it does not work that way unless you have a toxic relationship with yours.
They know he knowingly defrauded millions of people out of billions of dollars. If I did that, my mom would let me go to prison for the rest of my life because she knows she taught me morals and that human beings are more important than money and if I decide to ignore that moral framework as an adult then that's on me. Dude is an adult with a fully formed brain. Stopping a twelve year old from burning themselves on a hot stove is one thing, but if your fully adult son still needs to told not to touch the hot stove, it's time to let them fuck around and find out themselves.
That all assumes they had no idea what was going on, which I don't know is believable.
Also covered on WSJ ( https://www.wsj.com/articles/sam-bankman-fried-to-make-first... ) Notably, he is going to make a plea deal: “Mr. Bankman-Fried at a later date will enter a plea on charges that he engaged in fraud and other offenses, the judge said.” If he is doing a deal with prosecutors, you have to wonder what he is getting in return?
> Notably, he is going to make a plea deal That’s not what the article says. It says he will enter a plea later. To enter a plea means to plead guilty or not guilty. All they are saying is that he hasn’t said either way yet.
His ex-girlfriend and CEO of Alameda really put the nail in the coffin. Turned on him for 250K$ 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...
It's good that she did, because he played her for a sucker. He routed that entire massive fraud, which she may have barely understood (we'll see), through her as the CEO of a fake company whose only purpose was to embezzle deposits from FTX customers.
Mathematics degree. Both parents economists.
What's the over under on the number of days before he's Epsteined?
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Sure, but what does that mean in terms of protecting as yet unnamed persons connected to this saga? This promise to sing for prosecution is presumably not good news for SFB, that is understood. But SEC official names were being dragged into this when it broke via guilt by association. And that connection was via Caroline and her family. Maybe a nothing burger, but maybe there is actually some beef involved. How does…
Jeeze, it's not some crazy conspiracy that being the first to rat out your accomplices tends to leave you way better off, it's literally intentional, to encourage turncoats.
- was this too generous?
- who else besides Caroline Ellison would benefit here now that she has her deal? (Related to first q ..)
What's the over under on the number of days before he's Epsteined?
I touched on this topic when this all bubbled over a week or so ago [0]. I got down-voted for somehow implying a comparison between H Epstein's pedophilia etc to SBF's financial crimes (which, looking back, was a rather hilarious and bizarre conclusion some drew). YMMV. I wish you luck! IMHO, I think that he doesn't have enough incriminating information about political figures to be "hit-able". He must have some info…
There is zero chance he has inside insight into anything. D.C. is filled with new money throwing around millions. The point isn’t to get access. It’s to convince the politically unconnected that they have access. They get a photo, the candidate gets cash.
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I thought it was only if you skip town
Not quite. You pay a bondsman 10%. The bondsman turns around and pays the full bail amount to the court. If you show up, the bondsman gets their money back from the court but keeps your 10% as a fee. If you don't show up to court, the bondsman does not get their money back and is left holding the bag for the other 90% of the bail amount.