Notorious scammer Sam Bankman-Fried, the man at the center of the FTX scandal, has finally been extradited to the United States. Apparently, staying in a brutal Bahamian prison wasn’t to his liking, and he figured he’d try his luck back home.
Sure enough, America’s two-tiered justice system went right to work, and Bankman-Fried got the oligarch treatment after his bail hearing. To be specific, despite the depth of his crimes and the fact that he’s a massive flight risk, he was granted bail at the sum of $250 million.
JUST IN: #BNNNewsroom Reports.
FTX co-founder Sam Bankman Fried will be released on $250 million bail, a federal judge in New York ruled Thursday. The bail is part of a deal designed by federal prosecutors and Bankman-Fried’s defense attorneys. pic.twitter.com/7fUzTTwe8u
— Gurbaksh Singh Chahal (@gchahal) December 22, 2022
Someone that has followed this story might be asking where Bankman-Fried came up with the money to afford such a high price tag. After all, he had previously claimed to only have $100,000 to his name. Reports are that the bail will be satisfied by a lien being put on his parents’ house. That would be the same parents who profited handsomely from their son’s scheme. If that’s not America’s justice system in a nutshell, I don’t know what is.
Compare that to the treatment of randos who took selfies in the Capitol Building on January 6th, and you start to really get an idea of the two different standards. If you offend the ruling class, even without committing a major crime, you will be left to rot for years in solitary confinement. If you do the bidding of the ruling class, though, you can perpetrate one of the biggest financial scams in history and be home by dinner.
In the end, I suspect Bankman-Fried is still going to end up in prison for a very long time, mostly because all his confidants are turning on him and taking plea deals. Still, it’s impossible to not notice the two-tiered nature of a system that seems to give preference to a certain class of criminal.