How does bail work for Sam Bankman-fried?

Here's how it works. Sam Bankman-Fried appeared in federal court in Manhattan on Thursday before being released as part of a $250 bail agreement. A New York federal court released Sam Bankman-Fried on Thursday on a $250 million bail. He didn't pay it upfront, but his parents' Palo Alto home helps secure his promise not to flee.

Will Bankman-fried get a $250 million bond if his son flees?

No. In Bankman-Fried's case, the $250 million bond is secured by his parents' home. Since Bankman-Fried's parents signed the bond agreement, they would be on the hook for $250 million if their son flees.

Is Palo Alto's Bankman-fried's parents' home a security?

In this case, Bankman-Fried's parents' home in Palo Alto offers such a security, along with types of collateral posted by others who weren't named in the filing. Bankman-Fried previously said in media interviews last month that he had seen just about $100,000 in his account at the time.

Who is Sam Bankman-fried?

Sam Bankman-Fried, who founded and led FTX until a liquidity crunch forced the cryptocurrency exchange to declare bankruptcy, is escorted out of the Magistrate Court building after his arrest in Nassau, Bahamas December 13, 2022. REUTERS/Dante Carrer/File Photo Acquire Licensing Rights