4 ms·

They will likely not being using a bondsman. They are probably paying the bond (ostensibly) themselves. They are taking a $250m loan using their house as collat

by bena 4y ago

They will likely not being using a bondsman. They are probably paying the bond (ostensibly) themselves. They are taking a $250m loan using their house as collateral. If SBF does not make it to court on the agreed date, his parents will lose their house and be on the hook for the rest of the loan. If he does, his parents get the $250 million back and can pay off the loan. Until then, they are likely just making interest payments. You can think of bondsmen as essentially very specialized financial institutions. They provide loans to people. If you have a $5000 bond, you can pay a bondsman $500 to front the other $4500 for you. If you make it to court, they get their $4500 back and it's all good. If you don't make it to court, they are incentivized to find you to make sure you make it to court. They are usually not pleased to do this. You are not required to use a bail bondsman to post bail.

jdmoreira 4y ago
They are making interest payments on 250 million USD? Wow! How much do these people earn?
- eddsh1994 4y ago
  Stanford professors make around $180k usually. There's no chance they're paying regular interest of a 250m loan without some financial support.
  - dragonwriter 4y ago
    > Stanford professors make around $180k usually. There's no chance they're paying regular interest of a 250m loan without some financial support. There is no $250M loan. Should he fail to appear, he and each of his sureties (his parents) can be pursued by the court for whatever remains of the balance of the $250M bail amount. There is no actual $250M that changes hands until then (or, realistically, after.) The actual order: https://www.courtlistener.com/docket/66631291/14/united-states-v-bankman-fried/ https://www.courtlistener.com/docket/66631291/14/united-stat...
    - tedunangst 4y ago
      So much consternation about where the money came from and all anybody has to do is read the court order.

by bena 4y ago

jdmoreira 4y ago

They are making interest payments on 250 million USD? Wow! How much do these people earn?

eddsh1994 4y ago
Stanford professors make around $180k usually. There's no chance they're paying regular interest of a 250m loan without some financial support.
- dragonwriter 4y ago
  > Stanford professors make around $180k usually. There's no chance they're paying regular interest of a 250m loan without some financial support. There is no $250M loan. Should he fail to appear, he and each of his sureties (his parents) can be pursued by the court for whatever remains of the balance of the $250M bail amount. There is no actual $250M that changes hands until then (or, realistically, after.) The actual order: https://www.courtlistener.com/docket/66631291/14/united-states-v-bankman-fried/ https://www.courtlistener.com/docket/66631291/14/united-stat...
  - tedunangst 4y ago
    So much consternation about where the money came from and all anybody has to do is read the court order.