3 ms·

Compared to $8 billion missing funds, the bail is a slap on the wrist. I wouldn't be surprised if he disappears.

by danuker 4y ago

quantified 4y ago
What fraction of the bail is the home equity from his parents? Not likely more than $25mil there.
- danuker 4y ago
  I only found out that the Caribbean home is $16M.
  - wmf 4y ago
    That's stolen. All that real estate will be clawed back in the bankruptcy.
dredmorbius 4y ago
Bail isn't a punishment but a guarantee for future appearance. (Edited for clarity.)
- dragonwriter 4y ago
  Guarantee of appearance, or guarantee against flight.
  - dredmorbius 4y ago
    Fair point. I was writing in the sense of "a guarantee based upon", though the wording I used ("against appearance") is ... confusing. Parent comment edited for clarity.
- bavila 4y ago
  It really is bizarre seeing how some people are complaining about a $250 million bond as being a "slap on the wrist". It's not a fine, it's not a punishment -- he hasn't even been convicted of anything yet. He is nothing more than a pre-trial detainee. And, yes, being under house arrest still constitutes detention. Just seems like there's so much bloodlust here against someone who -- under the United States Constitution -- is still presumed innocent until found to be proven guilty beyond a reasonable doubt in a court of law by a jury of his peers. Sorry.
  - Sebb767 4y ago
    This is not bloodlust. SBF has squandered away billions, including investing several hundred millions in himself. A bond is intended to be high enough so that fleeing will be unlikely but, given SBFs history, him wasting another $250 million doesn't seem that improbable compared to what he pulled off this year.
    - dredmorbius 4y ago
      Not only high enough to make it unlikely for him, but if there have been other financial dealings (say, money laundering, offshoring, or various forms of criminal activity), which might serve interests to not see surfaced in court, then to make disappearing him overly financially painful for them as well.
CircleSpokes 4y ago
This doesn't make sense in my opinion. He basically waived the extradition process in the Bahamas. It is very likely doing that provides the court assurance he won't run. He could have very likely fought it for years there. Not fighting the extradition process and then going on the run doesn't make any sense to me.
beart 4y ago
Bail is not intended to be punitive, so it is not intended to be a slap on the wrist.

Compared to $8 billion missing funds, the bail is a slap on the wrist. I wouldn't be surprised if he disappears.

quantified 4y ago

What fraction of the bail is the home equity from his parents? Not likely more than $25mil there.

danuker 4y ago
I only found out that the Caribbean home is $16M.
- wmf 4y ago
  That's stolen. All that real estate will be clawed back in the bankruptcy.

dredmorbius 4y ago

Bail isn't a punishment but a guarantee for future appearance. (Edited for clarity.)

dragonwriter 4y ago
Guarantee of appearance, or guarantee against flight.
- dredmorbius 4y ago
  Fair point. I was writing in the sense of "a guarantee based upon", though the wording I used ("against appearance") is ... confusing. Parent comment edited for clarity.
bavila 4y ago
It really is bizarre seeing how some people are complaining about a $250 million bond as being a "slap on the wrist". It's not a fine, it's not a punishment -- he hasn't even been convicted of anything yet. He is nothing more than a pre-trial detainee. And, yes, being under house arrest still constitutes detention. Just seems like there's so much bloodlust here against someone who -- under the United States Constitution -- is still presumed innocent until found to be proven guilty beyond a reasonable doubt in a court of law by a jury of his peers. Sorry.
- Sebb767 4y ago
  This is not bloodlust. SBF has squandered away billions, including investing several hundred millions in himself. A bond is intended to be high enough so that fleeing will be unlikely but, given SBFs history, him wasting another $250 million doesn't seem that improbable compared to what he pulled off this year.
  - dredmorbius 4y ago
    Not only high enough to make it unlikely for him, but if there have been other financial dealings (say, money laundering, offshoring, or various forms of criminal activity), which might serve interests to not see surfaced in court, then to make disappearing him overly financially painful for them as well.

CircleSpokes 4y ago

This doesn't make sense in my opinion. He basically waived the extradition process in the Bahamas. It is very likely doing that provides the court assurance he won't run. He could have very likely fought it for years there. Not fighting the extradition process and then going on the run doesn't make any sense to me.

beart 4y ago

Bail is not intended to be punitive, so it is not intended to be a slap on the wrist.