161–170 of 500 posts
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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.
“Put up” is not “give up”; it is to offer as collateral, that is, they got a loan secured by a lien on the home.
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Bond is not bail. Bond is a percentage of bail that you pay to someone willing to put up the entire bail, and who will help find you if you abscond.
But it's possible they found some other money lender, not a bail bond specialist and got (improbably) better rates than 10 percent upfront, nonrefundable.
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…
He resigned as CEO this July, well after supposedly they tapped into customers funds.
I'm sure we'll hear about him too, one way or the other.
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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.
- You can balance their welfare vs. other goods, e.g. justice, well-functioning society, etc.
- Your view of their welfare can include their character, maturity, empathy, and taking responsibility for their actions. It sucks if that requires 20 years in prison, but that may be preferable to helping them be a free but terrible person for the rest of their life.
David Gerard has the best summary: ‘He was released on bail for a $250 million bond — “the largest ever pretrial bond,” apparently — secured only on his parents’ home in Palo Alto, where he will be living. ’SBF will surrender his passport and remain in home confinement with electronic monitoring — he’ll wear a bracelet. He will also be required to undergo regular mental health evaluation and treatment. No financial t…
Should be denied access to the internet too, like most internet related criminals are on bond conditions.
:-P
Back to the stone age it is!
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I’m not sure why that would matter. I would think all that would matter is having people willing to be on the hook if he skips town.
It would matter if they were willing to lose the money to avoid a trial, for starters.
Armchair thoughts-- makes you wonder what the game is here-- the prosecutors want a high enough bail that SBF can make, but not so high that he wouldn't pay the bond. For reasons-- 1) It proves he has more funds. 99% odds he will declare bankruptcy once the civil judgements come, so this refutes SBF claims that he only has a few hundred dollars in a bank account somewhere. 2) Making him collect funds from more than o…
Doesn't look like that's what's happening. It's not clear how much money's changing hands, but it's definitely nowhere near the full $250m.
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His parents' house is worth 250 million USD? (!?!)
The running theory is his parents were the puppet masters and he is the fall guy.
Have you ever met a law professor?
It’s not a question of corruptability, it’s a question of competence