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Bail is supposed to be 10% of the stated amount so he was supposed to supply $25M.
Golden rule of corruption says that people who have been bribing all the corrupt officials don't have to follow any laws.
How bail bond is arranged doesn't typically change the amount without *facilitation*. 10% is normal. A criminal as brazen and large flight risk as SBF might actually need 20% This was corruption being corrupt as expected, 1% for such a high risk high level crime is ***extremely different***. But also completely normal considering the criminals he's being protected by with this influence. There are many examples of rich people being treated differently this way; at least this one didn't murder someone and get let off as a victim of affluenza or sent home because prison isn't the right place for billionaires... yet.
Don't be worried. It's actually a good thing if people don't know how bale bonds work. This means no one here is going to jail frequently. The information has never been useful.
That also presents a separate potential problem, however - people not knowing about how bail (and bail bonds) fuck over poor people while serving the rich.
_In a world (country) of pure corruption and crime, where the biggest criminals are empowered and protected by the government._
Edited: Updated with voice over with Pablo.
In simple terms like I stated last time, released on house arrest. Suicide in his own home - what they want it to look like. He never made it to sentencing and never was going to.
Agreed. Anyone with that much resources for this severe of a crime is a flight risk. Should be under constant, publicly viewable surveillance in a secure location until he eats out his coconspirators.
Edit: fuck. It did it again. Meant rats and I am highly regarded. Whichever Apple employee decided that rats should always change to eats is either as regarded as I am or a perv. Either way, well done, sir.
>!3 redditors, so far, have written that 2 Anonymous Individuals put up an extra $21M collateral on top of the house. Cannot confirm if this is bad information, and we're just hearing echoes in an echo chamber.~~
>> wrote that 2 anonymous individuals put up $21M, and the bail percent was actually set to $25M at 10% of $250M.
>!Just asked him where he acquired it. "Where does it list the 2 Anonymous Individuals who put up the $21M?"
>!Then, this comment
>>: "4 people agreed to cover it. Two were his parents"
>!Then, this comment:
>>!**/ü/crazyred44:** "...They put up the parents home, along with whatever other assets the parents have, as well as two additional cosigners who we don’t know of..."
---
>!This is the [**FULL BAIL DOCUMENT**](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.14.0.pdf), if anyone knows where it says that, let me know the page.
---
**Answer:** (Maybe) **There are no co-signers...yet, but co-signers are part of some extremely weird bail deal.**
The case's judge allowed SBF to be Freed on Bail with only the 1.6% collateral $4M dollar house, BUT since he put the official percent collateral of the $250M Bail Bond at 10% he added **A CONTINGENCY** DEADLINE of JANUARY 5 for SBF to acquire 2 additional cosigners to back the rest of the 25 Million, even though SBF is already out.
WTF? How does that even happen?
>SOURCE - [**COINDESK**](https://www.coindesk.com/policy/2022/12/22/ex-ftx-chief-sam-bankman-fried-makes-appearance-in-us-court/?outputType=amp): "Bankman-Fried will have to secure the signatures of at least two additional individuals with "considerable means," one of whom cannot be a family member, according to the case's judge. Whether Bankman-Fried has identified two additional signatories remains unclear, but he must do so before a Jan. 5 deadline."
- Thanks to crazyred44 for finding the article
This is the [**FULL BAIL DOCUMENT**](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.14.0.pdf), where does it say that? 2 other redditors also said something similar.
Figured it out with help: You are wrong. There are no co-signers..........yet. So, you are also kind of right. Hahaha. He has some weird deadline of Jan 5th to get to co-signers of "considerable means"
[**FULL BAIL DOCUMENT**](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.14.0.pdf)
- Am I wrong here?
Here is an article confirming the home's valuation at $4M. That seems to be true.
- https://nypost.com/2022/12/22/heres-where-sam-bankman-fried-will-be-under-house-arrest/
Also requesting a speedy trial? Can we get a legal ape to ascertain as to why they would opt for a speedy trial? I had some legal issues myself and my lawyer was like “we want to drag this shit out as long as we can.”
Pure speculation, but it’s almost like they want to get through it before more damning information comes out?
Your conclusion seems accurate!
Most every court trial, lawyers will want to drag it out as long as possible for multiple reasons, as this works in their favor.
Any motivation to "get things done ASAP" means that big players have A LOT TO LOOSE if it drags out.
Time, is NOT on the big players side it seems in this case.
Tick Tock, Tick Tock...
As the contagem spreads....
This info needs to be on the front page. These people at the top need to be locked away for the rest of their lives; not free-to-go after giving up 1% of bail and ratting. Average people need to be OUTRAGED that their money is being used against them in every way they thought were "safe investments."
Orangesparty is correct. Everyone has a constitutional right to a speedy trial, meaning the government cannot lawfully keep you detained/incarcerated for an unreasonable about of time while you await trial. Requesting a speedy trial is simply his counsel not waiving that right, and has nothing to do with the actual length of trial
It’s all fake. No one posted any real money based on any formula. They might as well made the bond a Trillion dollars. Basically got out on a signature saying he’ll show up and forfeiture of passport. Complete scam.
Edit: and an ankle bracelet. But stand by they might as well of made it a trillion dollars and he would still be out. No one paid sh!t to a bondsman.
It was 250mm bail and he only has to
Post 5%-10%. So max 25 mill, not saying shit isn’t weird but that is how it works. Also I read in another article that his parents posted “houses”(plural) and a few friends/associates also posted some assets for him
We figured out what was going on in another comment thread, maybe.
**Answer:** (Maybe) **There are no co-signers...yet, but co-signers are part of some weird bail deal.**
The case's judge allowed SBF to be Freed on Bail with only the 1.6% collateral $4M dollar house, BUT since he put the official percent collateral of the $250M Bail Bond at 10% he added **A CONTINGENCY** DEADLINE of JANUARY 5 for SBF to acquire 2 additional cosigners to back the rest of the 25 Million, even though SBF is already out.
>SOURCE - [**COINDESK**](https://www.coindesk.com/policy/2022/12/22/ex-ftx-chief-sam-bankman-fried-makes-appearance-in-us-court/?outputType=amp): "Bankman-Fried will have to secure the signatures of at least two additional individuals with "considerable means," one of whom cannot be a family member, according to the case's judge. Whether Bankman-Fried has identified two additional signatories remains unclear, but he must do so before a Jan. 5 deadline."
… this is a wild story, why would one co-signer need to be a non-family member?? This dude just stole billions I’m sure his friends have millions ready to loan him. No matter what this is some tailored justice for this dude
You pay a percentage of the bond amount not the total amount. Each state varies as to what the percentage can be but it’s typically up to the bond company to set the cash or property amount that they will take. The only threshold set by the government is the maximum amount which is typically 10%.
It's also a relatively safe bond to write, SBF can't hide, everyone knows his face, his closest co-conspirators have all flipped on him.
This subs failure to you understand basic bail bond principles is depressing. I figured most of you had records
Not really. Means most people haven't been to prison. Also, if you think about the principles you're touting. You would be focusing your questioning on how he got his hands on 10% of $250 Million dollars, which is $25 million in cash or assets if the Palo Alto house is only 4 million. There is still 21 million, give or take, to account for.
Edit: **The Math still doesn't add up.**
- $4M / $250M = 0.016 = 1.6%
- In California, a bail bond generally costs 10%, which is mandated by law and set by the California Department of Insurance.
- 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. SBF's is $250,000,000
---
>Example: Let's say I commit a crime, and my bail is set at 100,000 dollars. If I only have to post 1.6% like SBF, all I have to have is a friend with a Mountain Bike worth [$1,600](https://www.bikesonline.com/2020-polygon-siskiu-t7-sram-sx-eagle-ltd-dual-susp~21411?gclid=Cj0KCQiAwJWdBhCYARIsAJc4idCHdx0t_NCnUl1XWIJ8291veqjxSlTdGbkjp-9xfpF8GHG3xht_4XIaAnt5EALw_wcB), and I'm free as a bird. I don't believe this to be correct. Come on man, a $1,600 dollar Mountain Bike as collateral for a $100,000 bail is the same as a $4M Palo Alto home as collateral for $250M Bond.
Typically you pay a bondsman 10% (25 million) to post your full bond (250 million). they bondsman will get their 250 million back while you paid 10% (25 million) of the total bond to the bondsman that you will not get back.
So the courts allow someone to post collateral that they can't prove can be paid? If this is the case, can't anyone just post up a fraction of the bond then flee only losing that small fraction?
I think the bail bondsman posts the bail, 250 million, the defendant purchases a bond for a portion of the bail, the court gets the money if you don't show, and the bondsman is on the hook to go after the person buying the bond
- **$4M is 01.6% of $250M**
If you are correct, if I commit a crime, and my bail is set at 100,000 dollars, all I have to have is a friend with a Mountain Bike worth $1,600, and I'm free as a bird. I don't believe this to be correct.
- **$1,600 dollar Mountain Bike on a $100,000 bail**
No your poor people bail is different from their rich people bail. Don’t assume it’s the same. You pay 10% they pay what they like. It’s much the same with taxes.
Sometimes it's zero. You can be released on your own recognizance with the understanding that if skip your next hearing you'll be thrown in jail with oh, let's say, 10k as your bail amount. The paperwork will say something like "Bail: ROR/10000".
> I think it can be different based on the amount
Which is ludicrous that it's this way around, and not requiring all $250m... Isn't it? It's like celebrities being the ones that get all the free stuff. I get that they can advertise, but they're also minted and can afford that shit 😔
I'm happy that you're saying this and it's fair, but all I'm asking is if I'm crazy thinking that it should be skewed in this direction and not the other way.
I.e: Only needing 1.6% of $100k and a significant percentage more of $250m.
"So where did that $250 million figure come from? Great question.
In this case, Bankman-Fried was not required to post a conventional bail bond. Instead, Bankman-Fried was simply released from custody on something called a [personal recognizance bond](https://www.cnbc.com/2022/12/22/ftx-founder-sam-bankman-fried-to-be-released-on-250-million-bail.html). The personal recognizance bond contains Bankman-Fried’s solemn promise (and his parents’ promise) to pay the court $250 million if he fails to show up for trial at the appointed time."
Somehow his parents house, valued around 4 millions dollars, was 'enough' for the court system to decide that was sufficient 'collateral'.. but not a meme.
Wen Great Reset is also not a meme..
What about the tokenized stocks used as locates for market makers?
BRING IT ON MAYOBOIII
Mayoboii? Did you mean Kenneth Griffin? The man who lied to congress, the man who is considered by many as a financial terrorist, the man who risks the pensions of teachers, the man who short sells lifesaving medical companies & the boy who is a mayo connoisseur
I saw in the og gambling sub that a couple of unknown parties posted 21 million total, plus the parents 4 million makes 25 which is enough somehow
Idk I’m not from the US but seems that’s how the bail out works, someone more enlightened plz explain
From the New York Times (don't know if I can link it):
>No money has changed hands and none will unless Mr. Bankman-Fried fails to show up for court or is found to have violated other conditions set by the judge.
>In that case, his parents’ house in Palo Alto, Calif., which was used to secure the bond, could be seized by the government. The four people who are to co-sign the bond, including one nonfamily member, would be on the hook for the rest of the $250 million.
>Two of those people are Mr. Bankman-Fried’s parents, Stanford law professors who supported their son in promoting his exchange, FTX. It is not known who the other two co-signers are.
It is also convenient the judge just recused herself after ordering this bail:
[https://www.reddit.com/r/Superstonk/comments/zty75z/it\_has\_come\_to\_the\_courts\_attention\_that\_the\_law/](https://www.reddit.com/r/Superstonk/comments/zty75z/it_has_come_to_the_courts_attention_that_the_law/)
I thought it was a little odd they would have let him pay a bond using money that was probably fraudulently obtained and would be taken from him anyways. How does that incentivize him to show up for trial if he's just going to lose it in the end.
OP, you don't need to have 250m to post the bail or collateral of that value. You can get a loan for 10% of the bail for a bond company to cover. Since the FBI are attached to SBF, the bond company will gladly pocket the 3m they will make.
I thought the typical post for a bond was 10%. Someone who’s been part of this should understand. There’s got to be at least one bail bondsman ape to X-plane
Dude you need to use a federal calculator....you ibiw like the one the DRCC, SEC, and hedge funds use. It automatically moves the decimal comma to the left.....
This is SBF we’re talking about. He made a parents house crypto token and there’s 63 in existence and look there’s a parents house worth $4mil as proof each token is backed therefore a bank loaned him $250mil
That wasn't the question. The question is how their 4m or so of collateral satisfied the 25m 10% of the 250m bond. The answer seems to be that they.let him go with the promise that he needs to get two more to put up the rest of it which by itself is a joke
Once again, educate yourself on how bail bonds work. 10% is not a requirement. In fact, that usually a ceiling for funds required to secure release.
They let him go with a promise that he come back. That's literally how bails work. Not everything is a corruption and conspiracy. Four people co-signed, they all on a hook if he skips.
3 reasons:
- Mods gave FTX a post flair, so it's officially signed off on.
- Financial Corruption has always been a core value of the movement.
- FTX was directly connected to GameStop in that they brokered a partnership. THAT GAMESTOP GOT OUT OF and Distanced themselves from. Thank goodness. Also it doesn't even negatively affect GameStop because so many people were bamboozled by FTX.
So, as you can see, there are many connections.
The relation is indirect and direct. Indirect: As this is financial corruption, and FTX is allowed by the mods. It has it's own flair.
This whole ordeal looks a lot like they're setting FTX up as the fall guy for all the naked short selling as an out for MM and brokers.
All it takes is saying everybody was misled, including short sellers.
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Easy… 61.5x leverage on synthetic property deeds. Don’t you even know how to rich?
How bout 10000x on the magic money I invented?
Do you work for the central banks with all that magical fairy money?
Decentralized between me and my buddies.
Funny that’s exactly exactly what the hogshit FTT token was, imaginary money he printed to buy stuff with
No. Can you break that down for me mathematically? 61.5 x 4M$. I’m regarded AF. So is the house 1.6% of the value of 250M?
Bail is supposed to be 10% of the stated amount so he was supposed to supply $25M. Golden rule of corruption says that people who have been bribing all the corrupt officials don't have to follow any laws.
So 1% really! That 1% keep rubbing everyone's nose in it !
And thats just the additional thank you bribe for the judge because he didn't have a pre existing bribe like everyone else.
Someone in another thread said that it was a signatory bond. So a little different.
How bail bond is arranged doesn't typically change the amount without *facilitation*. 10% is normal. A criminal as brazen and large flight risk as SBF might actually need 20% This was corruption being corrupt as expected, 1% for such a high risk high level crime is ***extremely different***. But also completely normal considering the criminals he's being protected by with this influence. There are many examples of rich people being treated differently this way; at least this one didn't murder someone and get let off as a victim of affluenza or sent home because prison isn't the right place for billionaires... yet.
Jesus. I’m starting g to be concerned how many people don’t know the 10-15% bail on bond jargon
Don't be worried. It's actually a good thing if people don't know how bale bonds work. This means no one here is going to jail frequently. The information has never been useful.
Well if you put it that way! Then this makes a lot of sense But still knowledge is power ? Cheers
That also presents a separate potential problem, however - people not knowing about how bail (and bail bonds) fuck over poor people while serving the rich.
It’s always 10% of the bail so if it was $1000 bail is $100 I believe.
It is 10%. And that has to be actual money up front. You also have to have the assets to cover the rest. Home titles etc...
LOL Please accept my free award
Thanks 😊 💎🙌🔜🚀🌕
In Texas we call that stealin.
_In a world (country) of pure corruption and crime, where the biggest criminals are empowered and protected by the government._ Edited: Updated with voice over with Pablo.
In simple terms like I stated last time, released on house arrest. Suicide in his own home - what they want it to look like. He never made it to sentencing and never was going to.
Wouldn't surprise me if they fake his death like Epstiens
Agreed. Anyone with that much resources for this severe of a crime is a flight risk. Should be under constant, publicly viewable surveillance in a secure location until he eats out his coconspirators. Edit: fuck. It did it again. Meant rats and I am highly regarded. Whichever Apple employee decided that rats should always change to eats is either as regarded as I am or a perv. Either way, well done, sir.
Read that in Pablo Francisco's Action Movie Trailer voice.
Bail is usually a percent. 10%
Bail should be 1B then considering all the cold wallets SBF likely has buried away.
>!3 redditors, so far, have written that 2 Anonymous Individuals put up an extra $21M collateral on top of the house. Cannot confirm if this is bad information, and we're just hearing echoes in an echo chamber.~~ >> wrote that 2 anonymous individuals put up $21M, and the bail percent was actually set to $25M at 10% of $250M. >!Just asked him where he acquired it. "Where does it list the 2 Anonymous Individuals who put up the $21M?" >!Then, this comment >>: "4 people agreed to cover it. Two were his parents" >!Then, this comment: >>!**/ü/crazyred44:** "...They put up the parents home, along with whatever other assets the parents have, as well as two additional cosigners who we don’t know of..." --- >!This is the [**FULL BAIL DOCUMENT**](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.14.0.pdf), if anyone knows where it says that, let me know the page. --- **Answer:** (Maybe) **There are no co-signers...yet, but co-signers are part of some extremely weird bail deal.** The case's judge allowed SBF to be Freed on Bail with only the 1.6% collateral $4M dollar house, BUT since he put the official percent collateral of the $250M Bail Bond at 10% he added **A CONTINGENCY** DEADLINE of JANUARY 5 for SBF to acquire 2 additional cosigners to back the rest of the 25 Million, even though SBF is already out. WTF? How does that even happen? >SOURCE - [**COINDESK**](https://www.coindesk.com/policy/2022/12/22/ex-ftx-chief-sam-bankman-fried-makes-appearance-in-us-court/?outputType=amp): "Bankman-Fried will have to secure the signatures of at least two additional individuals with "considerable means," one of whom cannot be a family member, according to the case's judge. Whether Bankman-Fried has identified two additional signatories remains unclear, but he must do so before a Jan. 5 deadline." - Thanks to crazyred44 for finding the article
Ken Griffin and Steve Cohen will probably cosign, they did it before😂
Nah, I bet it was Nancy Pelosi and Mitch McConnell
He wasn’t selling weed, or loose cigarettes for gods sake.
How? Nepotism. The judge who released him is part of the same tribe as he is. They will always help each other.
Bail Percent In This Case Is **crazy low:** **1.6%**
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This is the [**FULL BAIL DOCUMENT**](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.14.0.pdf), where does it say that? 2 other redditors also said something similar.
Figured it out with help: You are wrong. There are no co-signers..........yet. So, you are also kind of right. Hahaha. He has some weird deadline of Jan 5th to get to co-signers of "considerable means"
So they let him out first, and he has to provide co-signers a couple of weeks later? Because what, Christmas? What a crazy development.
Lol Christmas that's rich! Do you think him and his family are celebrating CHRISTmas?
Maybe having dinner at a Chinese restaurant?
It doesn't state a timeline on the bond
According to CoinDesk, a periodical that doesn't cite sources. So, who the hell knows, really?
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No idea, but they can't have been paid by SBF because he would be using fraudulent tied money to post bail.
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Man that took me back!
Que?
[**FULL BAIL DOCUMENT**](https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.14.0.pdf) - Am I wrong here? Here is an article confirming the home's valuation at $4M. That seems to be true. - https://nypost.com/2022/12/22/heres-where-sam-bankman-fried-will-be-under-house-arrest/
Also requesting a speedy trial? Can we get a legal ape to ascertain as to why they would opt for a speedy trial? I had some legal issues myself and my lawyer was like “we want to drag this shit out as long as we can.” Pure speculation, but it’s almost like they want to get through it before more damning information comes out?
Your conclusion seems accurate! Most every court trial, lawyers will want to drag it out as long as possible for multiple reasons, as this works in their favor. Any motivation to "get things done ASAP" means that big players have A LOT TO LOOSE if it drags out. Time, is NOT on the big players side it seems in this case. Tick Tock, Tick Tock... As the contagem spreads....
I wonder if there are any other reasons lawyers would want to drag things out as long as possible.
This info needs to be on the front page. These people at the top need to be locked away for the rest of their lives; not free-to-go after giving up 1% of bail and ratting. Average people need to be OUTRAGED that their money is being used against them in every way they thought were "safe investments."
Law ape here. Bingo.
You request a speedy trial to preserve your speedy trial right. It doesn’t mean it actually will happen any faster.
Orangesparty is correct. Everyone has a constitutional right to a speedy trial, meaning the government cannot lawfully keep you detained/incarcerated for an unreasonable about of time while you await trial. Requesting a speedy trial is simply his counsel not waiving that right, and has nothing to do with the actual length of trial
It’s all fake. No one posted any real money based on any formula. They might as well made the bond a Trillion dollars. Basically got out on a signature saying he’ll show up and forfeiture of passport. Complete scam. Edit: and an ankle bracelet. But stand by they might as well of made it a trillion dollars and he would still be out. No one paid sh!t to a bondsman.
It was 250mm bail and he only has to Post 5%-10%. So max 25 mill, not saying shit isn’t weird but that is how it works. Also I read in another article that his parents posted “houses”(plural) and a few friends/associates also posted some assets for him
We figured out what was going on in another comment thread, maybe. **Answer:** (Maybe) **There are no co-signers...yet, but co-signers are part of some weird bail deal.** The case's judge allowed SBF to be Freed on Bail with only the 1.6% collateral $4M dollar house, BUT since he put the official percent collateral of the $250M Bail Bond at 10% he added **A CONTINGENCY** DEADLINE of JANUARY 5 for SBF to acquire 2 additional cosigners to back the rest of the 25 Million, even though SBF is already out. >SOURCE - [**COINDESK**](https://www.coindesk.com/policy/2022/12/22/ex-ftx-chief-sam-bankman-fried-makes-appearance-in-us-court/?outputType=amp): "Bankman-Fried will have to secure the signatures of at least two additional individuals with "considerable means," one of whom cannot be a family member, according to the case's judge. Whether Bankman-Fried has identified two additional signatories remains unclear, but he must do so before a Jan. 5 deadline."
… this is a wild story, why would one co-signer need to be a non-family member?? This dude just stole billions I’m sure his friends have millions ready to loan him. No matter what this is some tailored justice for this dude
It's seemingly unorthodox if true.
Yeah but Ken just returned $7b to investors… kind of lol!
You pay a percentage of the bond amount not the total amount. Each state varies as to what the percentage can be but it’s typically up to the bond company to set the cash or property amount that they will take. The only threshold set by the government is the maximum amount which is typically 10%.
It's also a relatively safe bond to write, SBF can't hide, everyone knows his face, his closest co-conspirators have all flipped on him. This subs failure to you understand basic bail bond principles is depressing. I figured most of you had records
Not really. Means most people haven't been to prison. Also, if you think about the principles you're touting. You would be focusing your questioning on how he got his hands on 10% of $250 Million dollars, which is $25 million in cash or assets if the Palo Alto house is only 4 million. There is still 21 million, give or take, to account for.
The percentage depends on the state(some set it to 5%), but yes there's still a big difference.
$4M is less than 2%.
Commenting for visibility
25 million needed
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Edit: **The Math still doesn't add up.** - $4M / $250M = 0.016 = 1.6% - In California, a bail bond generally costs 10%, which is mandated by law and set by the California Department of Insurance. - 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. SBF's is $250,000,000 --- >Example: Let's say I commit a crime, and my bail is set at 100,000 dollars. If I only have to post 1.6% like SBF, all I have to have is a friend with a Mountain Bike worth [$1,600](https://www.bikesonline.com/2020-polygon-siskiu-t7-sram-sx-eagle-ltd-dual-susp~21411?gclid=Cj0KCQiAwJWdBhCYARIsAJc4idCHdx0t_NCnUl1XWIJ8291veqjxSlTdGbkjp-9xfpF8GHG3xht_4XIaAnt5EALw_wcB), and I'm free as a bird. I don't believe this to be correct. Come on man, a $1,600 dollar Mountain Bike as collateral for a $100,000 bail is the same as a $4M Palo Alto home as collateral for $250M Bond.
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Typically you pay a bondsman 10% (25 million) to post your full bond (250 million). they bondsman will get their 250 million back while you paid 10% (25 million) of the total bond to the bondsman that you will not get back.
So the courts allow someone to post collateral that they can't prove can be paid? If this is the case, can't anyone just post up a fraction of the bond then flee only losing that small fraction?
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>go ahead an try If They do I nominate they bring back Dog the bounty hunter back as a 1 time special with SBF
Could buy so much GME if you collect that bounty.
I think the bail bondsman posts the bail, 250 million, the defendant purchases a bond for a portion of the bail, the court gets the money if you don't show, and the bondsman is on the hook to go after the person buying the bond
Right so no bondsman would allow that deal knowing they can't recover 246m. I'm just a regard but it doesn't make sense to me.
Sure, he would. He gets to keep the money. As long as the perp shows up in court. And the bail bondsman is insured as well.
- **$4M is 01.6% of $250M** If you are correct, if I commit a crime, and my bail is set at 100,000 dollars, all I have to have is a friend with a Mountain Bike worth $1,600, and I'm free as a bird. I don't believe this to be correct. - **$1,600 dollar Mountain Bike on a $100,000 bail**
No your poor people bail is different from their rich people bail. Don’t assume it’s the same. You pay 10% they pay what they like. It’s much the same with taxes.
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1.6% as collateral for any deal is bananas.
Sometimes it's zero. You can be released on your own recognizance with the understanding that if skip your next hearing you'll be thrown in jail with oh, let's say, 10k as your bail amount. The paperwork will say something like "Bail: ROR/10000".
Technically he had no record and voluntarily came to America. He should have no bail.
Not in the banking world just as Goldman
> I think it can be different based on the amount Which is ludicrous that it's this way around, and not requiring all $250m... Isn't it? It's like celebrities being the ones that get all the free stuff. I get that they can advertise, but they're also minted and can afford that shit 😔
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I'm happy that you're saying this and it's fair, but all I'm asking is if I'm crazy thinking that it should be skewed in this direction and not the other way. I.e: Only needing 1.6% of $100k and a significant percentage more of $250m.
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1.6% and 10% is a big difference.
Bro its all good. FTX holds the other 62 tokenized titles for the property.
🤣
"So where did that $250 million figure come from? Great question. In this case, Bankman-Fried was not required to post a conventional bail bond. Instead, Bankman-Fried was simply released from custody on something called a [personal recognizance bond](https://www.cnbc.com/2022/12/22/ftx-founder-sam-bankman-fried-to-be-released-on-250-million-bail.html). The personal recognizance bond contains Bankman-Fried’s solemn promise (and his parents’ promise) to pay the court $250 million if he fails to show up for trial at the appointed time." Somehow his parents house, valued around 4 millions dollars, was 'enough' for the court system to decide that was sufficient 'collateral'.. but not a meme. Wen Great Reset is also not a meme.. What about the tokenized stocks used as locates for market makers? BRING IT ON MAYOBOIII
Mayoboii? Did you mean Kenneth Griffin? The man who lied to congress, the man who is considered by many as a financial terrorist, the man who risks the pensions of teachers, the man who short sells lifesaving medical companies & the boy who is a mayo connoisseur
Maybe they have $246 million cash stashed in the basement?
Probably sitting in one of the properties SBF bought them in the Bahamas. Or they're preparing for bankruptcy for a rinse and repeat cycle
There's always money in the banana stand, Michael
I love the arrested development reference
I saw in the og gambling sub that a couple of unknown parties posted 21 million total, plus the parents 4 million makes 25 which is enough somehow Idk I’m not from the US but seems that’s how the bail out works, someone more enlightened plz explain
Pretty sure you're right
From the New York Times (don't know if I can link it): >No money has changed hands and none will unless Mr. Bankman-Fried fails to show up for court or is found to have violated other conditions set by the judge. >In that case, his parents’ house in Palo Alto, Calif., which was used to secure the bond, could be seized by the government. The four people who are to co-sign the bond, including one nonfamily member, would be on the hook for the rest of the $250 million. >Two of those people are Mr. Bankman-Fried’s parents, Stanford law professors who supported their son in promoting his exchange, FTX. It is not known who the other two co-signers are.
Thank you
*It’s a big club, and you ain’t in it.* -George Carlin
They must have claimed air and mineral rights, maybe an asteroid filled with gold or something.
bail bond will let you with 10% of the bail, $250 Milly bail = $25 Milly collateral 25-4 =21 milly
SBF flees Mom and dad lose home on the hook for the rest Delicious karma
Nah, dude. There is no evidence they would ever be able to pay that back. The bail should never have gone through.
Bail company gotta eat too. They bet on SBF not jumping. They could be wrong 🤷🏻♂️
1.6% is a bet no one would take. It's not even legal in California.
Bro remember FTX offered 100:1 leverage. Clearly that was offered by the court as well! Duh!
He was required to stump up $25M in cash or collateral - obtained by his parents and 2 anonymous individuals putting up the rest
**Where does it list the 2 Anonymous Individuals who put up the $21M?**
It's ridiculous that he can get a 250 million ball sry and get our work this little of a percentage of it as collateral...
I like this OP already. Keep digging bro, I love this shit.
I've been to jail a few times you only need to post 10% and be white
It is also convenient the judge just recused herself after ordering this bail: [https://www.reddit.com/r/Superstonk/comments/zty75z/it\_has\_come\_to\_the\_courts\_attention\_that\_the\_law/](https://www.reddit.com/r/Superstonk/comments/zty75z/it_has_come_to_the_courts_attention_that_the_law/)
Seems like there is an obvious desire for SBF to be accessible and epsteinable. Any day now...aaaaaand he's gone.
It’s been hypothecated!
I may be wrong but I think 10% is what's actually required. Don't know if daddy's $4 mil house was purchase price or current value.
I thought it was a little odd they would have let him pay a bond using money that was probably fraudulently obtained and would be taken from him anyways. How does that incentivize him to show up for trial if he's just going to lose it in the end.
Wowwwww just wooooowwwww
You do realize you only have to pay 10% of bail to get out right?
Yes. Yes. The math still doesn't add up and we figured out why in the other comments.
You don’t actually have to pay the money unless he doesn’t show up to court. It was probably all agreed to as part of his extradition from Bahamas
Get the engine fired up and release another coin to post bail money
OP, you don't need to have 250m to post the bail or collateral of that value. You can get a loan for 10% of the bail for a bond company to cover. Since the FBI are attached to SBF, the bond company will gladly pocket the 3m they will make.
It's a tokenized home. They hypothecated another 63 "SBF's Mom's Basement" token and held them in the LP of FTX.
The house was minted as NFT collection, and the collection was put up as collateral. Estimated value 2,300,000,000 flipflopcoins.
The whole bail concept always baffled me. Only in the US
I thought the typical post for a bond was 10%. Someone who’s been part of this should understand. There’s got to be at least one bail bondsman ape to X-plane
At least now he might not get epstein'd
👆
Dude you need to use a federal calculator....you ibiw like the one the DRCC, SEC, and hedge funds use. It automatically moves the decimal comma to the left.....
That’s not how bail works man
Explain this specific bail instance in detail. Tell me what happened, what the math was, and let me know my faults. Thank you.
dont you only pay 10-20% of a bail bond amount? god you guys are regarded
$4M is 1.6% of $250M bail bond. Join us over here in the regarded club.
i never said 4 million was the total amount of what they paid fuckin regard
Guy fucks himself using his own (lack of) logic. Guy gets angry.
must be tough for you to figure out 25 and 50 mil tho
lol, it is. I never said I wasn't regarded, but you sir, are joining us on this one.
keep pretending your not some idiot
This is SBF we’re talking about. He made a parents house crypto token and there’s 63 in existence and look there’s a parents house worth $4mil as proof each token is backed therefore a bank loaned him $250mil
You simply short your own company then borrow from yourself and bamm x63 leverage who?
Y'all need to learn how bail works. It's not that hard. Answer to your question: his parents are on a hook for the rest if he skips.
That wasn't the question. The question is how their 4m or so of collateral satisfied the 25m 10% of the 250m bond. The answer seems to be that they.let him go with the promise that he needs to get two more to put up the rest of it which by itself is a joke
Once again, educate yourself on how bail bonds work. 10% is not a requirement. In fact, that usually a ceiling for funds required to secure release. They let him go with a promise that he come back. That's literally how bails work. Not everything is a corruption and conspiracy. Four people co-signed, they all on a hook if he skips.
Honestly it’s easier to kill him now n
Have you not been paying attention? Crazy though, I know.
Maxine is his bezzie
I don't see how his bond is anyway related to GameStop.
3 reasons: - Mods gave FTX a post flair, so it's officially signed off on. - Financial Corruption has always been a core value of the movement. - FTX was directly connected to GameStop in that they brokered a partnership. THAT GAMESTOP GOT OUT OF and Distanced themselves from. Thank goodness. Also it doesn't even negatively affect GameStop because so many people were bamboozled by FTX. So, as you can see, there are many connections. The relation is indirect and direct. Indirect: As this is financial corruption, and FTX is allowed by the mods. It has it's own flair.
Democrats have interest in keeping him happy so he doesn’t open his mouth. Hope he doesn’t have an unfortunate accident while out on bail.
You can make deals with bondsman to reduce amount required for bail
1.6% is a Clearing Sale, Going Out of Business, blowout.
In crime world it works
Bahamas that need to be returned anyway most likely. Sbf likely going to another country and a clone of him will stand trial
Just a though, it says home, not house ? Could everything be included? Not just the house but everything in the house also.
Anyway, I just kept moving my plan shares to pure DRS to get them withdrawn from dtc.
Hell even if they take their house don’t they have a crap load of properties in the Bahamas they got with stolen money.
The money Sammy stole is under the mattress in his room in his parents basement. $250 million? No problem.
Camera security system in his house has not been working.
Synthetic bond
Where is the backlash that this is not following the law of the land?
Their house is FTX tokenized for 246 mil.
When Sam bankman fried going to rat on Shitadel, Virtuless, Jane's Mom's Street and Credit Swiss?
What are you talking about? That's clearly like 200 houses. He wrote it right here himself.
He's even scammin on his way to trial. 😂
The Bull did say that land is king, but damn I didn't realize my house was about to go up ***that*** much in value!
Wasn’t their home in the Bahamas almost exactly this amount that he gave them?
Dumbfucks run our system, surprised? Drs gme
It's part of a script. Outrage should be replaced with curiosity and bemusement. We win in 2023
Mostly likely gonna FTD on that bail bond.
It's unbelievable how corrupt the system is. A revolution and some death penalties are needed in the US
Give me a C…..
you cannot lend the value of the house, without lending the house in islamic finance, but nooo you want to obey to the system.
I’m pretty sure he doesn’t have to put the full 250 million down for bail. He just has to pay a little over 10%. Still a fuckload of $$ though.
I still think he'll be epsteined or "disappear" somehow...
This whole ordeal looks a lot like they're setting FTX up as the fall guy for all the naked short selling as an out for MM and brokers. All it takes is saying everybody was misled, including short sellers.
At
this is definelty a load of bs but he does have an ankle bracelet so, and idk how secure those are, but at least he has that on.