www.zerohedge.com Update (1330ET): After spending nine days in Bahamian jail, Sam Bankman-Fried arrived in a Manhattan federal courtroom to face fraud charges over the collapse of FTX. Handcuffed and dressed in a blue suit, he appeared at a bail hearing after entering a plea ahead of the hearing.
JUST IN: SBF escorted out of courthouse after posting $250 million bail. pic.twitter.com/rUDyaMWnjD
— Watcher.Guru (@WatcherGuru) December 22, 2022
And then the shocker came: SBF – who is arguably the biggest flight risk in US criminal history – will be released on $250 million bond after consenting to a bail package that include a $250 Million bond, house arrest at his parent’s house in Palo Alto, location-monitoring, and the surrender of his passport.
According to Assistant U.S. Attorney Nicolas Roos, Bankman-Fried was responsible for perpetrating a “fraud of epic proportions.” However, he chose to allow for bail given that Bankman-Fried opted to waive extradition; furthermore, according to prosecutors the $250MM is the “largest-ever pre-trial bond” although in SBF’s case it is just more stolen client funds. That means it won’t be a problem to procure it even though just two weeks ago Sam claimed he only has $100,000 left to his name.
READ FULL ARTICLE HERE… | ZeroHedge
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