FTX founder Sam Bankman-Fried was sent to jail Friday to await trial after a bail hearing for the fallen cryptocurrency wiz left a judge convinced that he had repeatedly tried to influence witnesses against him.

  • athos77@kbin.social
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    1 year ago

    Thank you for the clarification: I appreciate it, and I leave a more knowledgeable person than I was before!

    • ImFresh3x@sh.itjust.works
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      1 year ago

      Good natured discussion is contagious. Thank you for being so chill.

      I should have mentioned this too::

      To be fair, this statement I made incorrect in a way:

      No. Bail is collateral if a person fails to appear.

      It’s loosely (or more so) implies something that is somewhat incorrect. In a way, implies that bail is only for collateral. And that’s not true either. As you mentioned. The fact that bail can be forfeited for numerous things all lends a secondary purpose of insuring that not only they appear, but also comply with other terms of their bail.

      I didn’t mean to imply that was it’s only purpose. I meant to imply it was the primarily purpose, but most importantly I meant to make a distinction between revocation and forfeiture.