Sam Bankman just cashed out $600k, in violation of his bail release terms
reddit.com
reddit.com
https://ia804708.us.archive.org/26/items/gov.uscourts.nysd.5...
https://ia804708.us.archive.org/26/items/gov.uscourts.nysd.5...
He does not need approval for raising money for legal or court costs. How can people commenting be sure he is using the money for something else.
Not sure why people commenting online are getting this wrong, both on Redditt and Twitter. One Twitter user, "BowTiedIguana", who was cited in a Yahoo article, is confusing the magistrate judge at the detention hearing with the district judge, Abrams, who recused herself weeks before her scheduled hearing with SBF on 3 Jan 2023. SBF has never met Abrams.
The question no one is answering is who are the two unnamed sureties that signed off on his release and allowed SBF to post bond. It stands to reason those folks are paying his lawyers, too. SBF's bond was $250M. There is no way his parents' property is worth even close to that amount, so these unnamed persons were essential for SBF's release. One of them is not a family member.
Who and why is this person taking sides with SBF.
https://blockonomi.com/sam-bankman-fried-cashed-out-over-600...
Blockonomi: "Sam Bankman-Fried Cashed Out Over $600k, Violating Parole?"
In the US, there is no parole at the federal level. It was abolished in 1984. Maybe the website is using the term in a general sense, not specific to the US.
Blockonomi: "SBK is only allowed to spend less than $100."
Perhaps this is a typographical error where someone omitted a zero.
What the bail disposition form actually says: "... Defendant not to open new lines of credit, open a business, or enter into financial transactions in excess of $1,000 without pre-approval of the Government or Court, except to pay for legal costs and fees; equity interest in parent's home to be posted by 1/12/23. (Entered: 12/22/2022)"
Blockonomi: "Transferring money or converting it to cash does not count as spending money."
OK, I am lost here.
Financial transactions could include include spending, e.g., purchases, as well as sales, i.e., receiving proceeds.
Only the court or the US attorney know if SBF obtained pre-approval.
If the monies are used to pay for legal costs and fees, then no pre-approval would be required.
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Even with his wealth and network, the guy is probably going to prison for many years. Before that he gets to live a little longer as a relatively free man.
So what?
Peoples brains seem to shut off and they just focus on this brief pre prison time like it’s some circumvention of justice.