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BCLP Partner Andrey Spektor was quoted Dec. 22 by Business Insider concerning the release of FTX founder Sam Bankman-Fried on a $250 million bail after a hearing in New York federal court. Such large bail amounts don't necessarily have to be paid out — but they need to be secured in some way, to provide assurance that a defendant won't violate its terms. In this case, Bankman-Fried's parents' home in Palo Alto offers such a security, but surely not $250 million worth of it: "These amounts are often just numbers — sometimes defendants will sign bonds in the amount of hundreds of thousands of dollars when everyone knows they don't have a penny to their name,” said Andrey, a former federal prosecutor.

Andrey also was quoted Dec. 23 by Business Insider on the charges against Sam Bankman-Fried’s ex-girlfriend Caroline Ellison, which carry a maximum penalty of 110 years. Her cooperation could secure her a much lighter sentence, perhaps even no jail time at all. If she is a successful cooperator, Andrey explained, her exposure "would be nothing close to what they'd be exposed to if they were to go to trial.”

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