The founder of FTX has just been released on bail after his first hearing upon his arrival in the United States.
It must be said that the judge decided on an extremely salty amount for his bail. And even huge!
Freedom’s $250 Million
The saga of Sam Bankman-Fried continues, with a new twist in the meteoric trajectory of the ex-billionaire in his thirties. After the scandalous bankruptcy of his FTX exchange and his escape to the Bahamas, we learned yesterday that he had finally landed in the United States to face a court of law.
And the young man, who says he is ruined, with a bank account not exceeding 100,000 dollars, was able during the hearing held yesterday to apply for bail.
A request to which the Manhattan District Court judge responded favorably, simply asking him in exchange for the small sum of … 250 million dollars. An amount considered by the public prosecution to be ” biggest pre-trial bail ever [demandée] “, and this, while SBF presents a risk of leakage ” minimal “.
Back to mom and dad
This astronomical sum was partly pledged on the Californian house of his parents, professors of law at Stanford, but also on the assets “ considerable from two other signatories.
The former boss of FTX must also now wear an electronic bracelet and live in the family home. He is prohibited from opening a line of credit exceeding the sum of 1,000 dollars. During the hearing, Samuel Bankman-Fried spoke only once, to confirm that he understood the consequences of a possible breach of his bail conditions.
The man, who once weighed in at $32 billion and originally ” of a fraud of epic proportions In the words of Deputy Attorney General Nicolas Roos, now has an appointment with justice on January 3. He will then be formally charged before New York judge Ronnie Abrams.
Source : CNBC
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