Hsu new bond set at $5 million
Glenwood Springs Post Independent:
The California extradition should be expedited since he is already in violation of his release on bond there, he can be held. It is possible that Colorado authorities could have him committed to a mental institution for suicide watch because of communications sent by Hsu suggesting that was his intent. That would be a way around the Colorado bond requirement.
County Court Judge Bruce Raaum on Thursday ordered fugitive political donor Norman Hsu held on $5 million bond — believed to be largest bond ever set in a Mesa County criminal hearing.Colorado law requires that a bond be available to all but murder defendants. I would have set his bond at at least $40 million based on the complaint in NY York where it is alleged that he borrowed that amount and used the money for among other things political donations.
"Two million wasn't enough ... we'll see if $5 million is," Raaum said.
District Attorney Pete Hautzinger asked for a whopping $50 million bond. Hautzinger cited new allegations from California and New York — where the DA said authorities have indicated their intent prosecute Hsu on new fraud charges — in requesting the high bond.
Hsu's checkbook showed he had access to $6 million when he was taken off a train in Grand Junction last week, he said.
"It's almost like monopoly money at this point," Hautzinger said.
Hsu is scheduled to appear again next Thursday before Judge Brian Flynn, clearing the way for his extradition to California.
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The California extradition should be expedited since he is already in violation of his release on bond there, he can be held. It is possible that Colorado authorities could have him committed to a mental institution for suicide watch because of communications sent by Hsu suggesting that was his intent. That would be a way around the Colorado bond requirement.
One of the issues that is surfacing now is that it now looks like much, if not most, of the money Norman Hsu currently has available to him (supposedly $6 million in a bank account according to the Mesa County DA) probably came from massive swindles he has been operating in both New York, and in Orange County, CA.
ReplyDeleteIn fact, the attorney for the New York investment fund group -- Source Financing Investors -- is asking the Democrat recipients of the campaign contributions not to return the money or contribute it to charity, but to hold on to it in order to help make the victims of the investment fund scam whole!
We think this story is not going away for a while!