FTX Founder Sam Bankman-Fried to Be Released
on $250 Million Bail to Parents’ Palo
Alto Home
National Review,
by
Brittany Bernstein
Original Article
Posted By: Dreadnought,
12/22/2022 2:30:12 PM
Sam Bankman-Fried, the disgraced founder of FTX, will be released on $250 million bail to home detention at his parents’ Palo Alto, Calif. home, a judge ruled Thursday.
Judge Gabriel Gorenstein ordered Bankman-Fried to submit to “strict” supervision at the home. He will also be required to surrender his passport and to receive mental-health and substance-abuse treatment.
Bankman-Fried was indicted on eight counts, including including securities fraud and money laundering.
Prosecutors allege Bankman-Fried misled investors and mishandled billions in funds.
Reply 1 - Posted by:
VirtuDawg 12/22/2022 2:32:47 PM (No. 1362781)
So Mommy and Daddy are literally bailing out this little POS that they raised . . . How ironic.
9 people like this.
Reply 2 - Posted by:
smaricic 12/22/2022 2:36:56 PM (No. 1362785)
$250 million -- a mere bag of shells -- as Ralph Kramden would say. Let's see, which overseas bank account should SBF tap?
6 people like this.
Reply 3 - Posted by:
jalo1951 12/22/2022 2:39:43 PM (No. 1362789)
He has the makings of a democratic member of the Senate or House of Representatives. He already checks several boxes. Laundered money? That's a winner, winner, chicken dinner for a dem.
8 people like this.
Reply 4 - Posted by:
Dodge Boy 12/22/2022 2:56:48 PM (No. 1362794)
So, to let me get this straight, a few questions. Two low-paid grunt-level college professors happen to have a $250 million house in Kalifornia that is free and clear? Because SBF had to have previously laundered some investor money to take care of his folks? By screwing his FTX investors for the laundered cash, SBF financed his own bail money and kept it handy for a rainy day?
Incidentally, Judge Gabriel Gorenstein was originally appointed by W in 2001 and confirmed by congress then, again was re-nominated by Obie in 2009 and again confirmed by a dim-controlled congress.
5 people like this.
Reply 5 - Posted by:
singermom9 12/22/2022 3:15:44 PM (No. 1362802)
But the Jan 6 political prisoners re in jail for almost 2 years and THIS GUY gets to go home?
17 people like this.
Reply 6 - Posted by:
downnout 12/22/2022 3:48:02 PM (No. 1362827)
How do a couple of Stanford professors afford a $25 million house? The judge imposed a $250 million dollar bail, so Mom and Dad put up the family home for the required 10%. Stanford must pay really well…or maybe Sam bought the house for them. Sweet deal.
6 people like this.
Reply 7 - Posted by:
paloalto 12/22/2022 4:09:37 PM (No. 1362839)
Boy, I'd hate to be their next door neighbors right now -- or anyone else living nearby, for that matter. Protecting this guy is going to be a nightmare. There are several lovely neighborhoods (and really lovely houses) where Stanford professors live. The neighborhoods are adjacent to the main campus and dorms. SBF's parents' neighborhood has particularly narrow, windy streets. How are they going to keep people out? Who has jurisdiction and will be in charge of protecting SBF: Stanford police, Palo Alto police, Santa Clara County Sheriff's office? What a mess. I know Stanford is the current conservative punchline (deservedly so for many reasons), but I am thankful for Stanford greats like Victor Davis Hanson and Thomas Sowell, Scott Atlas and Jay Bhattacharya, Peter Robinson ("Mr. Gorbachev, tear down this wall.) and so many others.
Also: where the hell did all the money go? Why aren't we getting 24-hour wall-to-wall CNN sob stories from Mom and Pop investors who lost their life savings? Because there weren't any? Just a big fat fluff and fold crypto laundry for the government?
4 people like this.
Reply 8 - Posted by:
seamusm 12/22/2022 4:26:32 PM (No. 1362849)
And here I thought he was down to his last credit card. I was so worried for him.
4 people like this.
Reply 9 - Posted by:
Hazymac 12/22/2022 4:29:31 PM (No. 1362853)
Cash requirements for truly huge bail is 6% rather than 10%, but still, are we to think that the college professor parental units have a residence worth $15 million? Even in the other Bay Area that's pricey. Madoff didn't get out; Epstein didn't get out. OJ didn't even get out before the jury sprung him. Why does this disheveled yute get such special treatment? It's almost as if he were about to fly away. Eliot's Burnt Norton (from Four Quartets) comes to mind: "Go, go, go, said the bird: human kind / Cannot bear very much reality." Yeah, go! Can they get him to a country without an extradition treaty, and can he assess enough of the funds he squirreled away? Can crime pay just this once? After all, he gave all of the money to leftists, none to conservatives. That should be good for something, shouldn't it?
3 people like this.
Mommy and Daddy put their house as collateral...$250 million seems like a lot of money for a house...even in Palo Alto,CA.
Bail law says they only have to put up 10%. How did Mommy and Daddy even afford a $250 million dollar house? Maybe
they were benefiting from the same criminal activities of their son. Maybe they should be charged as well. The whole
thing stinks. I doubt if the pudgy criminal with the butt-ugly girlfriend will ever go to trial.
PS...he is probably more at home in Mommy and Daddy's basement anyway.
3 people like this.
Reply 11 - Posted by:
smokincol 12/22/2022 6:31:56 PM (No. 1362901)
two bits he skates ... anybody think there is something very suspicious about this whole thing and he will not be held accountable because ... he gave the demcommies a lot of money and he's got them right where he needs them
3 people like this.
Reply 12 - Posted by:
bighambone 12/22/2022 9:34:46 PM (No. 1362965)
Was the bond granted really one where either 250 million in cash or 10% of that total had to be actually posted, or was it a $250 million signature bond where no actual cash collateral had to actually be posted?
Chances are the guy has a lot of money ( untold millions) stashed most likely in foreign bank accounts. The way this issue has played out so far, don’t be surprised, if in time, the guy disappears, and then shows up in some foreign country that will not extradite him back to the USA.
Remember he gave Biden, the Democrats, and some RINOS money amounting to well over $40 million during the run-up to the midterm election and you can bet that money was effectively stolen from depositors. Those politicians have absolutely no good reason to have the guy testify about that money, and as you can see what happened the afternoon before he was scheduled to testify before a congressional committee, where there was no doubt he would have been adversely questioned for hours about his political contributions, clearly the Democrats did not want him to do that, had him immediately arrested, and essentially put on ice up to today when he was released from custody. Do you think that would ever be allowed if the defendant was just plain Joe from Kokomo?
1 person likes this.
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