Sam Bankman-Fried (SBF) was released from jail a week ago and sent home to his parents’ house. He flew first class with his parents back to California after securing this $250 billion bail with his parents’ house.
FTX’s SBF Out of Jail and Off to Parents’ Mansion in California – Judge Jeanine Says His Chances of Going to Trial Are Slim to None
The New York Post wrote about SBF’s release:
The record-breaking bond would be partially secured by Bankman-Fried’s parents’ interest in their five-bedroom, three-bathroom home — which Zillow estimates to be worth north of $4 million — and that equity would have to be paid within three weeks, Gorenstein said.
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The alleged crypto grifter will be able to leave his parents’ house for exercise, mental health and substance abuse treatment. He will also be allowed to shop online, but is banned from making any non-sanctioned payments above $1,000 that aren’t legal fees, prosecutors said.
Although close to the college campus, the 3,092-square-foot house, on a tree-covered lot, should offer Bankman-Fried some privacy.
His family’s Craftsman-style house was built in 1917, according to PastHeritage.org. Records show the family has lived there since the early ’90s, but his parents split their time between the US and the Bahamas, where Bankman-Fried had been operating FTX.
SBF’s parents’s house is listed on the Palo Alto Stanford Heritage website. They are reportedly both Stanford professors.
The home reportedly shows some type of ownership by Stanford University.
Stanford is listed as an owner of the house pledged for SBF’s $250MM bond.
So is Stanford partially responsible for his bail? 🤔 pic.twitter.com/GN2Ny0FRaT
— Genevieve Roch-Decter, CFA (@GRDecter) December 23, 2022
Stanford University has a huge portfolio of homes, especially in Palo Alto County in California. The residents there have complained that the University’s purchases have caused the price of homes to skyrocket in the area.
Stanford University owns at least $1 billion in single-family residences countywide — or 700 homes, according to research by the San Jose Mercury News, NBC Bay Area, KQED, Telemundo, and the Center for Investigative Reporting.
In Palo Alto, Stanford now owns at least 37 single-family homes, including 32 in College Terrace, up from 23 in that neighborhood in 2017, when the Palo Alto Weekly did a survey.
The five media outlets joined forces to analyze county real-estate data for a project to answer the question of who owns Silicon Valley, Mercury News reporter Marisa Kendall said during a meeting of the College Terrace Residents Association on Wednesday night.
Residents expressed concerned about the upswing in acquisitions, which they say are increasing the cost of home ownership, taking valuable housing off the market for the general public and changing the quality of their neighborhood.
Based on the information we have been able to uncover, is Stanford University helping bail out SBF from jail?
According to reports, SBF’s bail bond was secured by his family home, signatures from his parents, and two other individuals with considerable assets.
The bond was secured by equity in his family home, and by the signatures of his parents and two other individuals with “considerable” assets.
Who are these individuals?