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Bankman-Fried's Shrinking ‘$250M Bond’

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Re: Bankman-Fried's Shrinking ‘$250M Bond’

#21

Post by nickthegreek »

rwmj wrote: post #12
maxbond wrote: post #5

Earlier quoted context omitted.

He has a constitutional right to it. He's presumed innocent in the eyes of the law.

There's no constitutional right - people accused of murder are not (often) released on bail. The 8th Amendment only applies to bail amounts when bail is granted. See also: https://en.wikipedia.org/wiki/Excessive_Bail_Clause#Preventi...

For anyone wanting more information on the 8th amendment.

https://constitution.congress.gov/browse/essay/amdt8-2-2/ALD...

States also have their own amendments that can differ on bail as well.

Re: Bankman-Fried's Shrinking ‘$250M Bond’

#22

Post by greenthrow »

maxbond wrote: post #5
thatguy0900 wrote: post #3

If he's such a flight risk he needs a 250m bond signed by multiple parties why not just keep him in jail? I don't get it.

He has a constitutional right to it. He's presumed innocent in the eyes of the law.

That's not really an answer. Many people are held without bond. The answer is he's from a well off family so he has good lawyers.

Re: Bankman-Fried's Shrinking ‘$250M Bond’

#23

Post by loeg »

georgeecollins wrote: post #6

For anyone who is not aware, in the US you sometimes have to put up bail money to get out of jail because you are a flight risk or there is a danger you will commit further crimes (assuming you are guilty which is at that point unproven). There are services that do this as a bond, called a bail bond. You typically don't put up the full amount, maybe 5-10%. The rest of the risk of you not showing up for your trial is…

You also don't have to use the bail bond services if you put up the full bail. But in this case SBF and associates only put up about $4M of the nominal $250M.

Re: Bankman-Fried's Shrinking ‘$250M Bond’

#24

Post by loeg »

maxbond wrote: post #18
rwmj wrote: post #12

Earlier quoted context omitted.

There's no constitutional right - people accused of murder are not (often) released on bail. The 8th Amendment only applies to bail amounts when bail is granted. See also: https://en.wikipedia.org/wiki/Excessive_Bail_Clause#Preventi...

He has a constitutional protection from cruel and unusual punishment. If there's no reason to believe he's dangerous to society, and he's presumed innocent, and we can use a bond to ensure he'll appear, then there's no reason to hold him.

> and we can use a bond to ensure he'll appear

That is really the crux of the matter, and where people are (reasonably) disagreeing with you. Does a $4M bond (from his parents' assets, not his) and a $246M IOU really ensure SBF will show up in court rather than fleeing?

Re: Bankman-Fried's Shrinking ‘$250M Bond’

#25

Post by maxbond »

moralestapia wrote: post #19
maxbond wrote: post #4

Earlier quoted context omitted.

Seems like there's a group of people who want him to be obliterated and will be dissatisfied at every step if it isn't mounting his head on a pike. It's honestly one of the more disturbing parts of the story for me.

What?(!) The guy stole billions from average people AND big time investors (he pissed on both buckets), he then proceeded to make such dumb mistakes that make him seem like it has a borderline mental issue, he also happens to be an absolute zero for charisma. How do you expect someone to sympathize with him, honestly? What would you like to happen then?

He's been charged, there's a mountain of evidence against him, and he's facing trial. That's what my expectations were. I don't think see a need to crank every step of the process up to 11. He's on a conveyor belt leading to a meat grinder.

Re: Bankman-Fried's Shrinking ‘$250M Bond’

#26

Post by sschueller »

georgeecollins wrote: post #6

For anyone who is not aware, in the US you sometimes have to put up bail money to get out of jail because you are a flight risk or there is a danger you will commit further crimes (assuming you are guilty which is at that point unproven). There are services that do this as a bond, called a bail bond. You typically don't put up the full amount, maybe 5-10%. The rest of the risk of you not showing up for your trial is…

So you pay the bondsman $25 million which you don't get back and he puts up the rest in case you do flee?

Wouldn't it be better then to pay the $250 million (if you have it) since you will get all of it back when you show up in court?

Re: Bankman-Fried's Shrinking ‘$250M Bond’

#28

Post by maxbond »

JumpCrisscross wrote: post #16
maxbond wrote: post #11

Earlier quoted context omitted.

If you believe he's guilty beyond a shadow of doubt, it shouldn't disturb you that he's on house arrest instead of in prison. His trial will last a year or two, his sentence probably be 10 to life (probably closer to the "life").

> believe he's guilty beyond a shadow of doubt, it shouldn't disturb you that he's on house arrest instead of in prison I don’t believe in his guilt beyond even reasonable suspicion. I do think he is a flight risk. He is delusional enough to attempt it, and may have the hidden means by which to make it.

Okay. So he's on house arrest, wearing an ankle monitor, and if he flees his parents will never recover financially. What's the problem?

Re: Bankman-Fried's Shrinking ‘$250M Bond’

#29

Post by BobbyJo »

maxbond wrote: post #11
JumpCrisscross wrote: post #7

Earlier quoted context omitted.

> group of people who want him to be obliterated and will be dissatisfied at every step if it doesn't result in his head on a pike He’s a fraudster who was content evading justice in the Bahamas for years to come. Of course there is popular desire for retribution, even beyond that which exists and continues to build against crypto at large.

If you believe he's guilty beyond a shadow of doubt, it shouldn't disturb you that he's on house arrest instead of in prison. His trial will last a year or two, his sentence probably be 10 to life (probably closer to the "life").

Why not? He did plenty more harm to plenty more people than many others who had to wait in jail for their trial. I think it's perfectly rational to be upset that someone who destroyed billions in wealth is treated more kindly by the justice system than than people who've done far less damage.

Re: Bankman-Fried's Shrinking ‘$250M Bond’

#30

Post by maxbond »

loeg wrote: post #24
maxbond wrote: post #18

Earlier quoted context omitted.

He has a constitutional protection from cruel and unusual punishment. If there's no reason to believe he's dangerous to society, and he's presumed innocent, and we can use a bond to ensure he'll appear, then there's no reason to hold him.

> and we can use a bond to ensure he'll appear That is really the crux of the matter, and where people are (reasonably) disagreeing with you. Does a $4M bond (from his parents' assets, not his) and a $246M IOU really ensure SBF will show up in court rather than fleeing?

What's the reasoning why it wouldn't, and why are we forgetting that he's also wearing an ankle monitor?
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