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That bail amount is insane. It would make sense if someone told me that it was a ploy to set a world record. It is a world record. I am curious to know what pa
by bushido 12y ago
That bail amount is insane. It would make sense if someone told me that it was a ploy to set a world record. It is a world record.
I am curious to know what parameters the court considered to set bail at this high an amount.
- Alupis 12y agoRegardless of what he did, $1.6 Billion USD is insane. I'm sure whatever he did, he deserved jail time, but that bail amount would be very hard to stick here in the US (seems a lot like extortion to me).
- _delirium 12y agoBail isn't a fee, but a security that you will return to court for trial: you put up $n bail, which is forfeited only if you flee, and returned if you show up for your court dates as promised. It's intended to make it more likely that when you're let out of jail pending trial, you won't become a fugitive, because you don't want to forfeit the bail. But for that to be effective, the bail amount has to be a substantial portion of your net worth, so that it would actually be painful to lose it. If someone is worth billions and the bail is only $1m or something, they can just shrug it off, so it would be ineffective at compelling appearance.
- Alupis 12y agoHedge Fund executives, Enron executives, etc all have had less bail than this guy,yet were worth considerable amounts. Also, a net worth isn't how much cash he has laying around. How terrible would it be if all this occurred and they found him not guilty? He would have liquidated his business for nothing. Still seems unreasonable.
- chintan100 12y agoNot so insane when you consider the fraud he is accused of amounts to ~4 Billion USD. http://en.wikipedia.org/wiki/Sahara_India_Pariwar_investor_fraud_case http://en.wikipedia.org/wiki/Sahara_India_Pariwar_investor_f...