Colorado Judge Sets Hsu's Bail at $5 Million
The NYT reports: "A judge ordered a cash bond of $5 million for Norman Hsu, the shadowy Democratic fund-raiser, after Colorado authorities told the court here that Mr. Hsu might have been involved in another multimillion-dollar fraud investigation involving dozens of investors in Orange County, Calif."
Mr. Hsu’s lawyer, Mr. Elliff, called the amount “ridiculous” and said he suspected that Mr. Hsu would be unable to pay that amount. Mr. Hautzinger, however, said that the authorities in Mesa County had found a checkbook with a $6 million balance belonging to Mr. Hsu upon his arrest.
Suitably Flip, who is beginning to own this story, says the judge had no choice but to set bail. Citing an email from the District Attorney Pete Hautzinger, Suitably Flip quotes:
Colorado law requires that bond be set in all cases but capital murder, and even then only when proof is evident and the presumptions great. I am sworn to enforce the law of Colorado. A $4,000,000 would quadruple the highest bond ever set in this jurisdiction. That having been said, I am now in possession of a lot more information about Mr. Hsu and his history. I would very much like to ask for no bond, but such in illegal under the law of my state. Rest assured, however, that I now will be asking the judge to set it a goo[d] deal higher than the $4,000,000 I had earlier contemplated.
In the event, Hautzinger asked for a $50 million bond, but the judge reduced it to $5 million.
Norman Hsu's case, with it's unfortunate puns, unlikely names, strange plot twists, celebrity connections, and riveting suspense would be entertainment if it weren't news. Nothing follows.