Former FTX CEO Sam Bankman-Fried has been released on bail after appearing in U.S. federal court in New York on Thursday. Bankman-Fried was told he can live with his parents on $250 million bail secured in part by their Palo Alto, California, house. His release also includes a long list of requirements for him to remain free while he faces charges. He's not allowed to make financial transactions of more than $1,000, can't open new lines of credit, can't leave the house except to exercise and must go through substance abuse and mental health treatment, according to the agreement.
More @
https://www.coindesk.com/markets/2022/12/23/first-mover-americas-sec-scrutnizes-crypto-audits-sbf-gets-bail/He claimed in an interview that he had less than $100,000, so how can he afford to pay the $250,000,000 bond?
SBF have properties, and it was stated is secured by the part of their Palo Alto, California, house. But shouldn't this property be confiscated and liquidated in order to reimburse the victims. The government did really want the share of the pie. They had SBF fined $250m when they can just use that $250 to fund a reimbursement to many victims of FTX and let SBF rot in jail. It should be non-bailable because of the degree and extent of the damage done by the incompetence and fraud of the FTX company. Now we are witnessing how light the justice system is on SBF.