Sam bankman Fried was released earlier this month after posting 250 billion dollars in bail ahead of his time in court, 250 million dollars makes this the largest pretrial court bond in history. But where did this now bankrupt fraudster get that kind of money from?
SBF claimed in an interview that he only had $100,000 and a single working credit card left to his name. The answer is that Bankman Fried did NOT pay this bond with cash his parents used their Palo Alto property as collateral instead, if he doesn’t show up to court, the feds can take their home.
But that doesn’t mean that Sam’s parents have a house worth 250 million, their house is only worth about 4 million dollars. SBF got away with an agreement that says that he and his parents will be liable for the remaining 246 million if he tries to flee.
A lot of people are angry at this because SBF is bankrupt either way, bankrupting him 250 times over is not as scary as the potential for life in prison.
#shorts
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Edited By: Andrew Gonzales
Music Courtesy of: Epidemic Sound
Select Footage Courtesy of: Getty Images
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