According to American media, on Thursday, the American federal magistrate on Thursday ordered Sam Bankman-Fried released on a $250 million bond. The bond was signed by his parents and secured by their home in Palo Alto, California. According to the person associated with the issue, he will live with his parents afterward. Sams movements are limited except for going to the gym.
Who is SBFs parents？
SBFs father is Joseph Bankman and his mother is named Barbara Fried, Both are lawyers. According to report, Sam's father, Joseph Bankman, is a professional attorney from America who is working at Stanford Law School as Ralph M. Parsons Professor of Law and Business. His mom is one of the co-founders of the political fundraising group Mind the Gap, which supports progressive political candidates and gives money to organizations that help people vote. It can be seen that SBF does not come from an ordinary family. His parents themselves have very deep political and economic capital.
The $250 million bond
Just last week, SBF disclosed that he has only about $100,000 left. Many people are confused about where the $250 million bond comes from. As we know so far, there are about 60 houses in Palo Alto, the price ranging from $950K to $53.9M. However, As of December 2022, SBF‘s parents’ net worth is less than $10 million. It seems impossible to offer the $250 million as the bond was signed by his parents and secured by their home in Palo Alto, California. Due to the collapse of FTX, SBF owed a lot of money to many investors, yet SBF could put up $250 million to bail himself out, which made many people extremely angry and unhappy with this 30-year-old entrepreneur.
SBF was arrested last week in the Bahamas. U.S. federal prosecutors charged him in an eight-count indictment for fraud, including campaign finance violations in political donations.
According to the indictment, Bankman-Fried has been charged with stealing about $8 billion from FTX investors and using this money for a capital injection of Alameda Research. He also used the money to purchase real estate and make political donations to mainly Democrats. Now Sam Bankman-Fried out on a $250 million bond makes people consider the relationship between the SBF family and Democratic Party.
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