How Sam Bankman-Fried Negotiated His Bail – The New York Times

Mr. Bankman-Fried had another point of leverage: U.S. prosecutors had wanted to extradite him from the Bahamas quickly, to avoid both the perception of slow-moving justice and his getting hurt in a Bahamian jail before being moved to the U.S. If he had fought extradition, he would most likely have lost that fight, but it would have cost the U.S. time and money. In return, he wanted to stay out of prison before trial.

The Justice Department and Mr. Bankman-Fried’s lawyers ultimately negotiated over how to extradite him in exchange for letting him stay out of prison without posting a huge bond, given his lack of funds. So while prosecutors could herald a $250 million bail, one of the highest in history, he was ultimately released on something closer to his own recognizance, which is also a standard arrangement. Prosecutors did demand that his parents post their home as collateral and co-sign the bail deal, expecting that Mr. Bankman-Fried wouldn’t want to hurt his family.

Source: How Sam Bankman-Fried Negotiated His Bail – The New York Times