bail

Former SAC Capital Advisors LP portfolio manager Mathew Martoma, charged in what prosecutors called the biggest-ever insider trading case, appeared in federal court in New York…He was arrested at his Boca Raton, Florida, home Nov. 20 and freed on $5 million bond. He appeared today before U.S. Magistrate Judge James Cott in Manhattan. The defense and prosecution today agreed to a modified bail package under which the $5 million bond must be secured by $2 million in cash or property, as well as signatures from three instead of two financially responsible people. Martoma has surrendered his and his children’s travel documents. He’s limited to Florida, Massachusetts, New Jersey and parts of New York. [Bloomberg]

  • 08 Jun 2012 at 6:14 PM

Kweku Adoboli Is A Free Man!

Kind of! Though he doesn’t go to trial until September, the UBS’s rogue trader was granted bail after ten months in jail and a February denial to go home. Naturally, he’s pretty pleased about the turn of events (which allows for sleepovers). Read more »

  • 26 Apr 2012 at 6:11 PM

Accused Manhattan Madam Now Accepting Donations

Unable to post her $2 million bail and desperate to get her out of jail and home for Mother’s Day, the husband and kids of accused Upper East Side madam Anna Gristina have gone public to raise money. The family yesterday launched a Web site asking for donations toward her whopping bail, which they blast as “cruel and unusual.” The site, www.helpanna.org, features photos of Gristina with her kids and information about her pig-rescue farm. Gristina was arrested on Feb. 22 on a single count of promoting prostitution. Since then, Manhattan Supreme Court Justice Juan Merchan has refused to budge on Gristina’s sky-high bail of $2 million bond — or $1 million cash — siding with prosecutors who claim the Scottish-born mom of four is a flight risk. Gristina lawyer Gary Greenwald has argued that the “outrageous’’ bond is beyond what’s given for mobsters, drug dealers and murderers. [NYP, related]

  • 09 Apr 2012 at 5:53 PM

Accused Madam’s Pigs May Want To Watch Their Backs

April 3, 2012: Report details ease with which alleged madam and so-called animal lover Anna Gristina sells majority of pet pigs in order to pay legal fees. April 9, 2012: Gristina is denied bailed reduction for a 4th time, must figure out a way to come up with the remaining scratch. Still has two prized pigs to her name to speak of…

  • 19 May 2011 at 3:55 PM

Dominique Strauss-Kahn Gets Bail

According to CNBC’s Mary Thompson, DSK’s bail has been set at $1 million (plus an additional $5 million insurance bond), he must surrender all travel documents and he must agree to “home detention monitoring” in the apartment he and his wife will rent in New York. If anyone’s building has any openings, do be sure to let him know! In related news: Read more »

  • 15 Dec 2009 at 1:12 PM

Raj Rajaratnam Makes A Good Point

raj rajaratnam air guitar.jpgYesterday, lawyers for Raj Rajaratnam once again asked for their client’s bail to be reduced (from $100 million to $20 million), and that the $7 million in cash posted several months back be returned to its rightful owner (the big man). Why? Because Raj-Raj is being treated unfairly. Is he a criminal? For sure. You’re god damn right he is. But is he in the same league as Bernie Madoff? No sir, and Raj/Raj’s representation doesn’t appreciate being treated as such. First off, Berns was screwing his investors, from start to finish. Whereas Raj? Did what he did for his investors. When Bernie went down, he left his investors high and dry. Raj? He’s been making it his biz-nass to maximize those returns, just like he’s always done. Madoff employees? They got fucked. Galleon employees? Raj has spent many sleepless nights writing letters of recommendation attesting to their unparalleled skills in the field. Raj: plays the air sitar. Berns: no air sitar. So this is fucking bullshit, and everybody knows it.

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