Bankman-Fried's sweetheart bail deal

Originally published at: Bankman-Fried's sweetheart bail deal | Boing Boing


So it’s more of an NFT of bail money


“What do you mean, the court won’t accept FTT tokens to pay my bail?”


There is nothing more sacred and binding than a pinkie swear.


expecting that Mr. Bankman-Fried wouldn’t want to hurt his family.

I wouldn’t count on that from someone who’s gotten used to justifying his grifting on the basis of “longtermism” and “effective altruism.” By their precepts, his future takes precedence over their present. I’m sure he’s already running the numbers to prove that the most efficient and ethical solution is to do the midnight flit and leave his parents ruined.

it seems cheaper and more expedient for the Department of Justice to put the squeeze on his parents and let Bankman-Fried protect himself from the horde of angry FTX customers.

Considering the nature of some of those customers, Studiously Schlubby Sam had better have some serious security at mommy and daddy’s house.


Cash bail is bad. Either someone can be released on their on recognizance, or they need to stay locked up because they’re a flight risk.

edit- or because they are very likely to reoffend (thx edgore)


What I’ve read elsewhere makes it sound like he used part of the money he’s accused of stealing to buy that house for his parents, which would make the house evidence in his trial. I’m not sure how that makes this legal.


This definitely makes sense as a reasonable thing to offer in exchange for willingly reentering the country.


Agree there. Hundreds of millions may buy comfortable exile outside of the US.

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I’m not sure how much “willingly” played into it. Once he realized that the local officials he’d bribed in the past wouldn’t help him, trying to fight extradition while sitting in a Bahamian prison was a worse and more dangerous option for him.


or a very high risk of reoffending. Otherwise everybody should be free until the state makes their case. Cash bail for it’s own sake needs to be eliminated


True, but can we start ending the practice with people more deserving of mercy than SBF?


Sadly no. Partially because this dick is as deserving of mercy and justice as anyone else who is accused of committing a crime and almost definitely actually committed a crime. In this case my concern would be that his entire life is so tied up in crime-related assets that I don’t know that he can actually live outside of custody without reoffending in some way, and that he seems like a giant flight risk! So I will complain about that and I will complain about every other person who has been strapped with cash bail


It’s just that mercy only seems to come up when it’s folks like SBF rather than when it’s a pregnant BIPOC woman or a trans activist or a minor seeking an abortion in Texas. It’s important, but for some reason only comes up in discussion whe it’s a White guy.


I get that, for sure. There has been progress made recently on moving away from cash bail in a lot of jurisdictions, which is good. I think it is important to push for it across the board though, regardless of who the particular criminal is. As I mentioned I think that given his past behavior SBF is a high risk and should have lots of conditions on his release (monitoring, etc) - he has already tried to avoid arrest and his finances are all tied to his alleged criminal acts. I think he is a bad choice because of this, not because of who he is.


news is all in the headline.


The language of the story illustrates perfectly why cash bail is such an injustice and why it should be ended across the board. The point is supposed to be to ensure that a defendant shows up for trial, but real point is to inflict pain on the defendant by “squeezing” them, or, if you’re poor and powerless, by just keeping you in jail.

Illinois’ was set to end cash bail on the 1st but it’s up in the air as a group of State’s Attorneys fight to preserve the system as-is, making the whole parade of horribles about the world will fall apart if we determine who has to remain in custody based on actual public safety and flight risk rather than income bracket.

The pressure to get the punishment started as quickly as possible, trial be damned, always lands on the poor and powerless hardest, and these stories complaining about “sweetheart deals” that are actually reasonable don’t help a whit.


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