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Comment by dragonwriter | Hacker News Reader

> Only a few days ago he declared he had less than 100k on his bank account and now he forks out 250m?

No, he (or one or more other people on his behalf) secured a $250m bond. Bail bonds generally cost significantly less than the amount of bail; in many states with a maximum or exact amount set by law. In New York, the maximum is 10% up to $3000, 8% for $3000-$10000, 6% for the amount over $10000. At $250M bail, the bond is a hair over $15M.

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But when you pay a bail bond to a bondsman, you never get that 10% back. You are paying for the service of NOT having to put up the full amount, as the bail bondsman is the one who is ultimately on the hook.

I highly doubt anyone paid $25 million that they aren't expecting to get back.

This dude embezzled like 7B and you think he doesn't have 250M squirreled away in crypto he can't pledge to some psychopathic billionaire buddy of his?

It seems like it would be an exceptionally bad idea for him to use hidden funds to get someone to pay his bail - he's being watched.

While that is true, this particular person does have a track record of a few exceptionally bad ideas.

It also seems like it would be an exceptionally bad idea for someone to lead off their congressional testimony with "I fucked up".

I don't think anyone is going to take a 250m credit risk on you if you only own 15m. And I don't think the bail would have been set in the hundreds of millions if the judge wasn't convinced SBF was loaded.

I would be more likely to take a $250 million credit risk than with 15 collateral than $2,500 credit risk with no collateral.

The point is to show you, your family, and associates have skin in the game and think you will show up at court

Something tells me that there isn't anyone in the bail bonds business who can put up $250M (or would be willing to if they did).

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