Friday, September 14, 2007

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.


Blogger PeterBoston said...

The purpose of the bail bond is to assure the appearance of the accused in future proceedings. If the amount, no matter how large in absolute terms, is trivial to the accused (with a propensity to flee) compared to the prospect of being convicted and incarcerated, he will flee the jurisdiction.

Considering that Hsu is already a fugitive and has the cash for the bond in his checking account - the chance of him showing up in a Colorado court again is about zero...which is exactly the outcome that Hilary et al would most desire.

9/14/2007 07:22:00 AM  
Blogger cathyf said...

I'm curious about the accuracy of the news report, specifically the term "cash bond". Typically, when someone gets bail, they put up 10% and a bail bondsman puts up the other 90%. Perhaps a not-too-bright journalist, having been taught that the "cash bond" is always 10% of the "nominal bond", may have "interpreted" a $50million bond as being a $5million "cash bond"? Not understanding that if no bail bondsman is stupid enough to touch the guy, then $50 million means $50 million, not $5 million.

All this is speculation, of course. I've just seen enough journalists in action to be a little suspicious that this one understands how bail works...

9/14/2007 09:49:00 AM  
Blogger dchamil said...

What's hso unfortunate about puns? So hsue me!

9/14/2007 10:35:00 AM  
Blogger Doug said...

Charles Ferguson, a filmmaker, presents a rebuttal to claims made by L. Paul Bremer III that top American officials approved the decision to disband the Iraqi army.
ht Ash

(but what I argued all along)
A tragedy of unspeakable magnitude.

9/14/2007 02:22:00 PM  
Blogger Doug said...

Hsu who?
And hsu what if I don't?

9/14/2007 03:19:00 PM  
Anonymous Anonymous said...

One of my buddy's recently got into some trouble at a bar and the short story is he was arrested on assault charges which are ridiculous we were there and watched as a random guy came up to him punched him in the face and began repeatedly beating him. He stood up to defend himself and in the crossfire the wasted dude fell and banged his head on the kerb. The cops show up and don't want to hear us and arrest him.
It all got cleared up in the end but had that have gone to court and my friend had to have paid court bonds could he have claimed them back or even sued the police force for wrongful arrest? Also where would be the best place for getting bonded?

4/30/2008 01:47:00 AM  

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