3 ms·

So his parents have a $250 million dollar home I guess. Or I am still confused. If they used their home then it must be worth $250 million. Or they borrowed $2

So his parents have a $250 million dollar home I guess. Or I am still confused. If they used their home then it must be worth $250 million. Or they borrowed $25 mil against it and got a bondsman. Somebody has to guaranty $250 mil to the court and it has to really exist or he would be sitting in jail.

dragonwriter 4y ago
> So his parents have a $250 million dollar home I guess No. > Or I am still confused. Yes, absolutely. > If they used their home then it must be worth $250 million. No. > Or they borrowed $25 mil against it and got a bondsman. Also, no. > Somebody has to guaranty $250 mil to the court and it has to really exist or he would be sitting in jail. Again, no.
- strangattractor 4y ago
  What is your source of information?
  - dragonwriter 4y ago
    > What is your source of information? Mainly, the actual bond document approved by the court, which details the actual conditions approved in this case, and the federal law on bail, 18 USC § 3142, which sets the rules for what federal courts can approve. What's yours?
    - strangattractor 4y ago
      I posted it above - with links.
      - davidgerard 4y ago
        you posted state laws, not federal law. Here's Popehat's explainer: https://www.serioustrouble.show/p/how-did-sam-bankman-fried-get-bail https://www.serioustrouble.show/p/how-did-sam-bankman-fried-...
        strangattractor 4y ago
        Thanks - that was actually useful.
strangattractor 4y ago
https://money.howstuffworks.com/bail.htm https://money.howstuffworks.com/bail.htm We have to agree to disagree I suppose. There would absolutely no purpose whatsoever in setting bail at $250 million and then accepting a home valued at far less as guaranty for the $250 million. In CA at least %10 must be provided to the court. In New York, defendants may be charged a percentage of the total bail amount ranging from 6% for bonds under $3,000 to 10% for bonds over $10,000. For example, bail on a $10,000 bond is typically 8% of the total or $800.Feb 17, 2022 https://www.tsiglerlaw.com/how-do-bail-bonds-work-in-ny/#:~:text=In%20New%20York%2C%20defendants%20may,of%20the%20total%20or%20%24800 https://www.tsiglerlaw.com/how-do-bail-bonds-work-in-ny/#:~:....
strangattractor 4y ago
Reuters The bond is meant to ensure that if Bankman-Fried flees, the government could confiscate the family's assets - including their Palo Alto home - up to $250 million. Reuters could not determine the family's total net worth. Bankman-Fried said at a New York Times conference on Nov. 30, following the exchange's collapse, that he had $100,000 in his bank account.

dragonwriter 4y ago

> So his parents have a $250 million dollar home I guess No. > Or I am still confused. Yes, absolutely. > If they used their home then it must be worth $250 million. No. > Or they borrowed $25 mil against it and got a bondsman. Also, no. > Somebody has to guaranty $250 mil to the court and it has to really exist or he would be sitting in jail. Again, no.

strangattractor 4y ago
What is your source of information?
- dragonwriter 4y ago
  > What is your source of information? Mainly, the actual bond document approved by the court, which details the actual conditions approved in this case, and the federal law on bail, 18 USC § 3142, which sets the rules for what federal courts can approve. What's yours?
  - strangattractor 4y ago
    I posted it above - with links.
    - davidgerard 4y ago
      you posted state laws, not federal law. Here's Popehat's explainer: https://www.serioustrouble.show/p/how-did-sam-bankman-fried-get-bail https://www.serioustrouble.show/p/how-did-sam-bankman-fried-...
      - strangattractor 4y ago
        Thanks - that was actually useful.

strangattractor 4y ago

https://money.howstuffworks.com/bail.htm https://money.howstuffworks.com/bail.htm We have to agree to disagree I suppose. There would absolutely no purpose whatsoever in setting bail at $250 million and then accepting a home valued at far less as guaranty for the $250 million. In CA at least %10 must be provided to the court. In New York, defendants may be charged a percentage of the total bail amount ranging from 6% for bonds under $3,000 to 10% for bonds over $10,000. For example, bail on a $10,000 bond is typically 8% of the total or $800.Feb 17, 2022 https://www.tsiglerlaw.com/how-do-bail-bonds-work-in-ny/#:~:text=In%20New%20York%2C%20defendants%20may,of%20the%20total%20or%20%24800 https://www.tsiglerlaw.com/how-do-bail-bonds-work-in-ny/#:~:....

strangattractor 4y ago

Reuters The bond is meant to ensure that if Bankman-Fried flees, the government could confiscate the family's assets - including their Palo Alto home - up to $250 million. Reuters could not determine the family's total net worth. Bankman-Fried said at a New York Times conference on Nov. 30, following the exchange's collapse, that he had $100,000 in his bank account.