Re:FTX founder Sam Bankman-Fried to be released on $250M bail
by jjtheblunt on Thursday December 22, 2022 @07:20PM
(#34100810)
thanks. who pays if he and the parents skip the US to somewhere from which they're not retrievable, and their house sells for a very presumptive 4 million?
Re:FTX founder Sam Bankman-Fried to be released on $250M bail
by dragonwriter on Thursday December 22, 2022 @07:33PM
(#34100911)
SBF and his parents are on the hook for the full amount, two other sureties for lesser amounts.
Personally fleeing doesn't really matter, because signing as a bail surety makes the court itself your agent for service of process, and default judgement is automatically available. (They do have to provide a copy of notices at the sureties last known address, but they don't have to actually serve notice on them.)
Now, if all the assets of SBF and his sureties are out of reach of the US government, that would be a problem.
Re:FTX founder Sam Bankman-Fried to be released on $250M bail
by svnt on Thursday December 22, 2022 @07:49PM
(#34101015)
Wouldn’t be totally out of character for him and his associates to misrepresent their financial standing.
Re:FTX founder Sam Bankman-Fried to be released on $250M bail
by svnt on Thursday December 22, 2022 @07:33PM
(#34100901)
You mean when. $4 million is a rounding error in the business he was just in.
I guess we pay, somehow.
Re:FTX founder Sam Bankman-Fried to be released on $250M bail
by eastbound on Thursday December 22, 2022 @11:16PM
(#34102283)
With that level of living, he must have always had a few millions lying around, I wonder how it’s possible to come back to limit expenses to two or three thousand dollars a month, like the rest of us.
Re:FTX founder Sam Bankman-Fried to be released on $250M bail
by outside1234 on Thursday December 22, 2022 @09:37PM
(#34101750)
Yes, if he were black he would have had to put up the $250m
Correct.
> Does that mean only a fraction of the bond value needs to be the security?
Correct.
> If so, is that not bullshit?
It seems to mean “lots of people’s mental model of what ‘$X bail’ means is wrong.” But that ignorance doesn’t make the actual system bullshit.