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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

#431

Post by jjcon »

dragonwriter wrote: post #377
jjcon wrote: post #236

Earlier quoted context omitted.

Uhhh… what? So what level of rape/murder is appropriate/acceptable for criminals out on bail to commit, statistically speaking of course? I’m pretty sure the rest of us think it should be 0… but maybe that is just me. 3 notable examples in the last 6 months in one area… not zero… not anywhere close.

> So what level of rape/murder is appropriate/acceptable for criminals out on bail What level of rape/murder is acceptable from criminals who have not yet been charged with a crime? The answer is the same as for your question, so unless we are going to preemptively detain everyone not yet charged with a crime, I don't see how the answer to your question can imply we should lock up people who are charged but not convi…

> What level of rape/murder is acceptable from criminals who have not yet been charged with a crime?

Huh? What are you talking about? You don’t even get a bail hearing unless you've already been charged with a crime.

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

#432

Post by devmunchies »

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)

Another question, what if they are still paying a mortgage? Then they are “bailing on leverage”? Committing the bank’s home to the US govt.

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

#433

Post by [deleted] »

__derek__ wrote: post #196
xdavidliu wrote: post #88

Earlier quoted context omitted.

I thought Alameda came first, before FTX. Also, the fraud was on the FTX side, not Alameda, hence it doesn't make sense for him to blame her for it?

Isn't it a two-way fraud? Alameda defrauded FTX by knowingly providing worthless collateral for loans (FTT), which FTX fraudulently made using customer funds.

[deleted]

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

#434

Post by s1artibartfast »

KoftaBob wrote: post #124
satvikpendem wrote: post #77

Earlier quoted context omitted.

M means milli in Latin, as in thousand (kilo comes from Greek). Millennium, millipede (thousand legs), and so on. Million just means a thousand thousands. That is why in most financial institutions, M means thousand, and MM means millions, literally thousand thousands.

I’ve always found this idiotic. This isn’t Renaissance Florence, using M to mean thousand is just financier gatekeeping snobbery.

Or perhaps institution see some value in keeping a consistent denotation when you have records spanning hundreds of years, multiple counties, and multiple languages.

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

#436

Post by hintymad »

csense wrote: post #260
hollerith wrote: post #232

Earlier quoted context omitted.

A financial intermediary trusted by the court pledges to pay the court the 250M if SBF flees and the intermediary cannot find him and take him back into custody. For typical bail amounts i.e., $50k, the intermediary usually demands 10% of the $50k from the defendant (and his friends) as a deposit, but maybe SBF found an intermediary willing to make the pledge to the court for a deposit significantly less than 10% of…

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…

How can a Palo Alto house be worth only $2M? Or SBF’s parents had only $2M worth of equity on the house?

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

#437

Post by thelastgallon »

colechristensen wrote: post #406
smcl wrote: post #383

Earlier quoted context omitted.

What would this achieve? I think SBF has done a load of financial crime, but I don’t think we are at risk of him spinning up a new token and making millions. Internet is required for a lot of normal shit, making it illegal is a really cruel punitive thing

I don’t know about cruel, he’s just preparing for a significant legal defense. Communications, researching, etc using the internet is an important part of defending himself in court which he deserves a fair shot at. The purpose of the bail is to enable him to better participate in the upcoming legal proceedings.

Don't forget the interviews!

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

#438

Post by 1vuio0pswjnm7 »

When is his next interview.

Per "tech" nonsense, SBF is continually portrayed as some sort of genius "executive", but he had no clue how to run a business, he's now broke, getting arraigned in federal court and his parents are bailing him out. If his parents' house has a basement, he will now be in it playing video games.

Will the judge call him "brilliant" as in the Holmes sentencing.

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

#439

Post by bodangly »

sethd wrote: post #336
bodangly wrote: post #330

Earlier quoted context omitted.

Not sure about the rest of the state but definitely no basements here in South Florida. I haven’t even seen any houses w a crawl space when I was moving here. Pretty much just concrete block construction on slab. Can’t really dig far on a swamp…

I live in FL too and there are basements for sure. :) I don’t have one but I’ve seen plenty. As for crawl spaces, they’re really common on older homes up here (central FL); I have one.

I guess you guys have some firmer land up there. Here if it isn't pure swamp, its limestone which water has no problem passing through, hence no basements in most locations.
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