SBF stays at parents’ house on a $250 million bail: Law Decoded, Dec. 19-26 By Cointelegraph

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SBF stays at parents’ house on a $250 million bail: Law Decoded, Dec. 19-26

Published Dec 26, 2022 03:00PM ET Updated Dec 26, 2022 04:40PM ET

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SBF stays at parents’ house on a $250 million bail: Law Decoded, Dec. 19-26

Former FTX CEO Sam Bankman-Fried landed in the United States on Dec. 21. And, at least till the end of his court cases, he will live with his parents in Palo Alto, California. A bail was granted to SBF on the conditions of a $250 million bond, home detention, location monitoring and the surrender of his passport. His parents secured his bail with the equity in their house. Some Twitter users found this development either amusing or suspicious.

One of the key witnesses in the ongoing FTX investigation, former Alameda Research CEO Caroline Ellison, would have to pay a thousand times less. Apart from SBF, she would only be prosecuted for criminal tax violations under the plea agreement and could be released immediately on $250,000 bail. In exchange for her collaboration, Ellison will be spared of all major charges, which could have seen her sentenced to up to 110 years in prison.

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