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.
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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?
His parents posted the bond and used property as collateral. It's not clear to me whether the entirety of 250M needed to be produced in order for SBF to be released, but it's odd how his parents assets aren't being investigated. If it's true that FTX funneled money to SBF's parents, then the feds will seize his parents assets and potentially find them criminally liable as a result. If the funds are seized, the bail should be nullified because the collateral isn't actually under their ownership. These trials will take a while to be prosecuted. Could be years while he's out on bail.
Had SBF had 250M, the feds will have seized it all. So he most likely kept all of his wealth in off shore accounts or in other people's name. Of course, he undoubtedly has probably millions of dollars worth of crypto assets the government is unaware of.