The quick response is no one had to pay anything for his release, and no money is owedu2014at least not yet.
The appearance bond under Bankman-release Fried’s agreement is a guarantee to adhere to particular conditions while awaiting trial and to appear when the time comes. No real payment was necessary, but he had to put up 10% of the bail sum as security for the bond.
Source :Business Insider India According to the appearance bond that was submitted to the court, it creates a $250,000,000 personal recognisance bond that is backed by four individuals, at least one of whom is not a relative of Bankman-Fried. When a close friend or relative co-signs a recognisance bond, the offender’s failure to appear in court has an effect on more people, particularly the co-signers who are also on the bond, said Brooklyn Law School vice dean and centennial professor of law Miriam Baer.A court may also demand a cash security deposit, And Baer. However, in some respects, making family members co-sign the recognisance bondu2014especially if it has a very large monetary amountu2014is a more effective strategy to guarantee a wealthy individual will appear in court.Comment your views below.
