6 ms·

> secured only on his parents’ home in Palo Alto, This part is incorrect - his parents and 2 other individuals with ‘significant assets’ signed on his bond.

lamontcg 4y ago
That makes more sense. He probably has a billionaire friend or two.
- jacquesm 4y ago
  It'd be nice to know who and how they got their billions.
  - irrational 4y ago
    Are there any billionaires of whom it is not known how they got their billions?
    - nimchimpsky 4y ago
      [dead]
    - wmf 4y ago
      There seem to be some, like Trump and SBF himself, who lied about making billions.
    - from 4y ago
      Jho Low until 2013.
    - vba616 4y ago
      Well, known by who? More of them are known to journalists and Google than to a proverbial person on the street, but there are supposed to be over 3,000 billionaires in the world. We probably haven't heard of most of the 99% of billionaires that aren't in the top ten. And if we haven't heard of them, it would not make a lot of sense to be certain that "it is known" of all of them where they got their wealth. Last year, if you didn't Google them, did you know who Bernard Arnault, Mukesh Ambani, or Gautam Adani were? In the case of Adani, I had never heard even of his company, which apparently is one of the largest in the world. (The point of this post was mainly to use the phrase "99% of billionaires")
    - alchemist1e9 4y ago
      Obviously yes and there are billionaires whom it is not even known they are billionaires! As one example of some discovered - https://www.bloomberg.com/news/articles/2014-05-08/three-mysterious-philanthropists-fund-fourth-largest-u-dot-s-dot-charity https://www.bloomberg.com/news/articles/2014-05-08/three-mys...
hn_throwaway_99 4y ago
Normally when you post bail you have 2 options: 1. Pledge the full amount of the bail yourself. You get this back if the accused shows up in court, you lose it of they flee. 2. Pay some percentage (usually X%) to a bail bondsman. You never get that money back, and if the accused flees, the bail bondsman will try to get the money from whomever signed the bond (as the bail bondsman is on the hook). The bail bondsman may also engage a bounty hunter to try to catch the accused. Obviously, with a bail amount this large, my guess is there is no bail bondsman that has that much to put up. So there should be $250 million that someone pledged for this bail. I'm still confused as to where that amount came from.
- halfmatthalfcat 4y ago
  If the prosecution had any qualms about those posting bail on SBF's behalf, they could ask for a surety hearing in order to ascertain where the funds are actually coming from, and that they're legit.
- berberous 4y ago
  I think bail norms probably vary by jurisdiction, etc., and your assumptions are not correct. My guess is he was not required to post full collateral, i.e. the only collateral here is the home, and then Sam, his parents, and two others posted essentially an unsecured guarantee for the full $250M, such that the government could recover up that amount from any assets held by any of those parties. While unsecured, note that the government probably has priority over any creditors and could and would seize any assets of those parties per the guarantee.
  - xwolfi 4y ago
    So this bail is as colateralized as an Alameda loan ? This trial is starting well...
    - landemva 4y ago
      I doubt there will be a trial, as too many politicians could be deposed along with tracing washed funds from US to Ukraine to FTX. He will have an unexpected medical complication or will take a plea deal.
dragonwriter 4y ago
> This part is incorrect - his parents and 2 other individuals with ‘significant assets’ signed on his bond. His parents signed the $250M bond, two others are to sign lesser bonds in amounts to be agreed.
dragonwriter 4y ago
> This part is incorrect - his parents and 2 other individuals with ‘significant assets’ signed on his bond. Yes, they stand surety, but only the home secures the bond. (That is, the court has—or will have, their is time to post it—a recorded legal property interest in the home until the bail is no longer needed.)
zktrust 4y ago
who are the 2 other individuals? please names.
- zktrust 4y ago
  and how are parents worth 250M USD with or without Alameda basement? please explain to the public.

lamontcg 4y ago

That makes more sense. He probably has a billionaire friend or two.

jacquesm 4y ago
It'd be nice to know who and how they got their billions.
- irrational 4y ago
  Are there any billionaires of whom it is not known how they got their billions?
  - nimchimpsky 4y ago
    [dead]
  - wmf 4y ago
    There seem to be some, like Trump and SBF himself, who lied about making billions.
  - from 4y ago
    Jho Low until 2013.
  - vba616 4y ago
    Well, known by who? More of them are known to journalists and Google than to a proverbial person on the street, but there are supposed to be over 3,000 billionaires in the world. We probably haven't heard of most of the 99% of billionaires that aren't in the top ten. And if we haven't heard of them, it would not make a lot of sense to be certain that "it is known" of all of them where they got their wealth. Last year, if you didn't Google them, did you know who Bernard Arnault, Mukesh Ambani, or Gautam Adani were? In the case of Adani, I had never heard even of his company, which apparently is one of the largest in the world. (The point of this post was mainly to use the phrase "99% of billionaires")
  - alchemist1e9 4y ago
    Obviously yes and there are billionaires whom it is not even known they are billionaires! As one example of some discovered - https://www.bloomberg.com/news/articles/2014-05-08/three-mysterious-philanthropists-fund-fourth-largest-u-dot-s-dot-charity https://www.bloomberg.com/news/articles/2014-05-08/three-mys...

hn_throwaway_99 4y ago

Normally when you post bail you have 2 options: 1. Pledge the full amount of the bail yourself. You get this back if the accused shows up in court, you lose it of they flee. 2. Pay some percentage (usually X%) to a bail bondsman. You never get that money back, and if the accused flees, the bail bondsman will try to get the money from whomever signed the bond (as the bail bondsman is on the hook). The bail bondsman may also engage a bounty hunter to try to catch the accused. Obviously, with a bail amount this large, my guess is there is no bail bondsman that has that much to put up. So there should be $250 million that someone pledged for this bail. I'm still confused as to where that amount came from.

halfmatthalfcat 4y ago
If the prosecution had any qualms about those posting bail on SBF's behalf, they could ask for a surety hearing in order to ascertain where the funds are actually coming from, and that they're legit.
berberous 4y ago
I think bail norms probably vary by jurisdiction, etc., and your assumptions are not correct. My guess is he was not required to post full collateral, i.e. the only collateral here is the home, and then Sam, his parents, and two others posted essentially an unsecured guarantee for the full $250M, such that the government could recover up that amount from any assets held by any of those parties. While unsecured, note that the government probably has priority over any creditors and could and would seize any assets of those parties per the guarantee.
- xwolfi 4y ago
  So this bail is as colateralized as an Alameda loan ? This trial is starting well...
  - landemva 4y ago
    I doubt there will be a trial, as too many politicians could be deposed along with tracing washed funds from US to Ukraine to FTX. He will have an unexpected medical complication or will take a plea deal.

dragonwriter 4y ago

> This part is incorrect - his parents and 2 other individuals with ‘significant assets’ signed on his bond. His parents signed the $250M bond, two others are to sign lesser bonds in amounts to be agreed.

dragonwriter 4y ago

> This part is incorrect - his parents and 2 other individuals with ‘significant assets’ signed on his bond. Yes, they stand surety, but only the home secures the bond. (That is, the court has—or will have, their is time to post it—a recorded legal property interest in the home until the bail is no longer needed.)

zktrust 4y ago

who are the 2 other individuals? please names.

zktrust 4y ago
and how are parents worth 250M USD with or without Alameda basement? please explain to the public.