Former assistant U.S. attorney Andy McCarthy weighs in on FTX founder Sam Bankman-Fried posting $250 million bond and former Alameda CEO and FTX co-founder cooperating with federal officials on ‘Fox Business Tonight.’
FTX founder Sam Bankman-Fried clinched a bail deal on Thursday that would see him released on a $250 million bond secured against his parents’ property with restrictions on his movement.
Here is an explainer on how his deal stacks up and how bail works:
Was Bankman-Fried expected to get bail?
Defendants are presumed to be eligible for bail unless prosecutors can prove that no set of conditions could ensure that they would return to court. As Bankman-Fried was accused of a white collar, or financial, crime, it would have been surprising if he had not received bail.
FTX founder Sam Bankman-Fried leaves following his arraignment in New York City on December 22, 2022. (Photo by Ed Jones/AFP via Getty Images) (ED JONES/AFP via Getty Images / Getty Images)
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How did Bankman-Fried secure bail?
Defendants secure bail by putting up enough of their own assets to cover a portion of their bond.
These so-called bond packages are mixes of assets that can include cash, real estate or anything else of value. They are often co-signed by family members who would be on the hook if a defendant flees.
White collar defendants often have the means to put up bond packages, but defendants with limited assets will often…
