FTX founder Samuel Bankman-Fried, indicted on federal charges of fraud and money laundering, was released on a $250-million bail bond. His parents used their house to bail him out. But they rent the land from Stanford. kierafeldman reports:
Shortly before Christmas, FTX founder Samuel Bankman-Fried, indicted on federal charges of fraud and money laundering, was released on a $250-million bail bond that was secured by his parents’ Palo Alto-area home.
Although the couple told the court that the five-bedroom, 3,000-square-foot home is worth $3.55 million, the restrictions that come with owning a home on Stanford property make it difficult to gauge its market value via conventional means. Were Bankman and Fried ever to sell their house — or were the government to take possession of it, in the event of a bail violation, and then have to sell it — the pool of potential buyers would be limited to other eligible Stanford faculty.
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