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FTX founder Sam Bankman-Fried to be released on $250M bail

cnbc.com

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Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#271

Post by ggreer »

ravi-delia wrote: post #228
itake wrote: post #223

Earlier quoted context omitted.

I see a lot of news articles in Seattle about people that were released from jail by a judge with no bail while they wait for trail and then go on to commit even more serious crimes (arson, rape and murder) in the following days. I think society struggles with knowing who is a threat and who isn't. The consequences of being wrong is rape, death, and arson. > released without bail and was arrested 10 hours later for a…

That's because it makes the headlines- working out the real statistics wouldn't even be that hard and would totally remove the need for such sensationalist nonsense, but of course that doesn't pay the bills.

It's not easy to work out the statistics because the vast majority of crimes go unsolved. The sensational headlines are the ones where criminals managed to get caught. The ones who were out on bail (or released on their own recognizance) but didn't get caught won't show up in the stats.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#272

Post by coldtea »

shafyy wrote: post #175

It's so wrong that rich folks can just skip jail. I'm just reading Harari's Sapiens, and one of his points is that it's crazy that today it's accepted that poorer people are discriminated against. That many people think that being poor is a not something that happens by chance, but by people being lazy or dumb.

Just skip jail? Most of them skip being taken to trial at all, and a smaller minority of them assure that they pass the laws they like...

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#273

Post by dmitryminkovsky »

grubbs wrote: post #216
emn13 wrote: post #165

Earlier quoted context omitted.

How about: "No use of any software or device that includes any cryptographic algorithms." :-P Back to the stone age it is!

He could still mine crypto with a pen and paper!

0.67 hashes per day

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#274

Post by dredmorbius »

annexrichmond wrote: post #159
pavlov wrote: post #115

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…

More like he moved into his parents’ attic? They don’t have basements in California :P

Basement additions through remodeling has become much more common on the Peninsula over the past decade or two.

There are height and density limits, so among the few options is to go down.

Not a whole lot of coverage that I'm finding, though there's a brief mention in this Palo Alto Weekly article (2018):

https://paloaltoonline.com/news/2018/01/12/groundwater-spurs...>

If you search "palo alto basement remodel" you'll find a heck of a lot of contractor / services pages (enough to frustrate me looking for actual news coverage or mentions).

And a Crescent Park remodel involving basements across four properties:

https://www.paloaltoonline.com/news/2016/05/26/zuckerberg-pl...>

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#275

Post by halfmatthalfcat »

hn_throwaway_99 wrote: post #252
happyopossum wrote: post #205

Earlier quoted context omitted.

> secured only on his parents’ home in Palo Alto, This part is incorrect - his parents and 2 other individuals with ‘significant assets’ signed on his bond.

Normally when you post bail you have 2 options: 1. Pledge the full amount of the bail yourself. You get this back if the accused shows up in court, you lose it of they flee. 2. Pay some percentage (usually X%) to a bail bondsman. You never get that money back, and if the accused flees, the bail bondsman will try to get the money from whomever signed the bond (as the bail bondsman is on the hook). The bail bondsman ma…

If the prosecution had any qualms about those posting bail on SBF's behalf, they could ask for a surety hearing in order to ascertain where the funds are actually coming from, and that they're legit.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#276

Post by cma »

rootusrootus wrote: post #237
postalrat wrote: post #210

Earlier quoted context omitted.

[flagged]

$100K along with equity in your parents' house as well as a couple other unnamed rich people. Then sure.

He already gave his parents more expensive houses in the Bahamas directly with company funds.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#277

Post by _-____-_ »

zwily wrote: post #208
gdavisson wrote: post #189

Earlier quoted context omitted.

The Democrats' Senate Majority PAC is planning to return $1M contributed by SBF and $2M from Nishad Singh; the House Majority PAC got $6M from SBF and "will send funds in question wherever authorities instruct us". Source (and more details): https://www.cnbc.com/2022/12/20/ftx-democrats-senate-majorit... My understanding is that SBF also made similar contributions to Republicans and conservative PACs etc, but general…

Is there any evidence at all of him giving “similar” money to republicans, other than his own word (which is garbage)?

[dead]

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#278

Post by bandyaboot »

dredmorbius wrote: post #102
bandyaboot wrote: post #89

Earlier quoted context omitted.

Fair point. Any idea if judges typically consider such things in this kind of case?

Bonds agencies do. The term is "flight risk". https://www.allcitybailbonds.com/2015/10/what-makes-someone-... > A 2007 NYT article describes particulars within the context of one case. In part: To hear Ms. Weinstock tell it, Ms. Chanla was the ultimate flight risk. She was foreign born, and lacked ties to New York. She swapped identities like a chameleon, using at least two different names, the prosecutor said. A wee…

The more thorny scenario I’m wondering about is when there’s a person A who is attempting to post bail for person B, but there’s reason to suspect person A may be implicated in the same crime or a related crime as person B. Person A may very well be willing to lose that money with the expectation that person B flees and doesn’t implicate them.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#279

Post by ravi-delia »

ggreer wrote: post #271
ravi-delia wrote: post #228

Earlier quoted context omitted.

That's because it makes the headlines- working out the real statistics wouldn't even be that hard and would totally remove the need for such sensationalist nonsense, but of course that doesn't pay the bills.

It's not easy to work out the statistics because the vast majority of crimes go unsolved. The sensational headlines are the ones where criminals managed to get caught. The ones who were out on bail (or released on their own recognizance) but didn't get caught won't show up in the stats.

A cursory google suggests that 50% of murders go unsolved. Obviously people out on bail are far more likely to be investigated than those who aren't (especially considering that the intersection of "criminals who haven't gotten caught" and "people out on bail" is empty, so we're looking at the finer category of people who have been caught once), but lets pretend that the opposite is true, and that every single unsolved murder is committed by someone out on bail. That utterly made up statistic would still have more value than every such fearmongering headline combined.

Re: FTX founder Sam Bankman-Fried to be released on $250M bail

#280

Post by dragonwriter »

pessimizer wrote: post #47
NovemberWhiskey wrote: post #26

Earlier quoted context omitted.

Bail is a security - you only actually lose the asset securing bail if you abscond.

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.

> Bond is a percentage of bail that you pay to someone willing to put up the entire bail

Bond is actually whatever arrangement you make that the court accepts as surety in place of depositing the full bail amount as cash. Most commonly, this is paying a premium to a registered bond agent (who usually also does not pay the full bail up front), sometimes, its having other persons aa sureties who are liable for the bail if you don’t appear, or pledging other property as a guarantee, or, as in SBF's case, both, where his parents home is pledged and his parents are liable sureties.

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