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

Post by throwawaylinux » Fri, Dec 23, 2022, 12:53 AM UTC

moralestapia wrote: post #352

Consultant32452 wrote: post #309

Earlier quoted context omitted.

Cash bail means the accused pays the full bail amount and then gets it refunded after trial. A surety bond is basically a loan, through a bail bondsman. The bail bondsman has insurance in case you don't show up. A property bond is where the court gets a lien on your property. It sounds like this is what happened. https://money.howstuffworks.com/bail.htm

If that's the case, I'm very curious now about how two Stanford professors have at least 250M of property under their name. Perhaps it has been acquired in the past 4 or so years? (Nothing against Stanford or professors, but academia pay peanuts and professors are usually very far from having a net worth of 9-10 figures, faaaaaaaar awaaaaaay)

Post by jrjrmlrlrlrr » Fri, Dec 23, 2022, 12:55 AM UTC

jrockway wrote: post #270

bigmattystyles wrote: post #257

Earlier quoted context omitted.

I wonder what those in pretrial detention in Rikers do without internet, there only because they don’t have resources to bond out.

Your solution to needless suffering is to add more needless suffering?

Post by 111111101101 » Fri, Dec 23, 2022, 12:57 AM UTC

jacquesm wrote: post #263

csense wrote: post #260

Earlier quoted context omitted.

Okay so it's basically a bail bond, sign over the $2M house to get the bondsman to post $250M bond. What bondsman has $250M? Even if they did, why would they ever agree to this? Isn't getting $2M from a defendant on a bail bond less than even the interest you could probably get by just putting your $250M in, say, a Treasury bond over the same timeframe? For that matter, who's willing to bet $250M at 99-to-1 payout od…

You also need to factor in the cost of plastic surgery and a new identity because I guarantee that if he 'just' skips to Dubai he won't be safe.

Post by from » Fri, Dec 23, 2022, 1:07 AM UTC

dredmorbius wrote: post #351

from wrote: post #287

Earlier quoted context omitted.

Here are some high profile examples: https://storage.courtlistener.com/recap/gov.uscourts.nysd.44... (granted) https://storage.courtlistener.com/recap/gov.uscourts.nysd.45... (denied) https://www.theguardian.com/world/2011/may/19/dominique-stra... (granted) https://storage.courtlistener.com/recap/gov.uscourts.cacd.72... (denied) https://www.nydailynews.com/new-york/nyc-crime/ny-colombo-mo... (granted)

At least the news items don't seem to discuss the mechanics of large-figure bail. Just establish instances of same. (I've yet to dive into the PDFs.)

Post by dragonwriter » Fri, Dec 23, 2022, 1:10 AM UTC

happyopossum wrote: post #205

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…

> 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.