💰 Explainer: How did Bankman-Fried secure $250 mln bail?

TL;DR

Dec 22 (Reuters) - 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.As Bankman-Fried was accused of a white collar, or financial, crime, it would have been surprising if he had not received bail.White collar defendants often have the means to put up bond packages, but defendants with limited assets will often use a bail bondsman.New York federal prosecutors have described Bankman-Fried's alleged crimes and the collapse of his $32 billion crypto empire as one of the largest financial frauds in U.S. history."It's the largest bond I've ever heard of in my history of doing bonds," said Ira Judelson, a prominent New York bail bondsman who specializes in high-profile defendants."

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