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* When testimony concludes today, Judge Amy St. Eve will decide whether Tony Rezko should be released on bond. He’s been in jail since he was arrested Jan. 28.
It’s unclear what her decision might be, but this may possibly offer some insight:
Though the circumstances are different in the Rezko case, St. Eve is the same judge who allowed bond for two defendants accused of having ties to Hamas terror funding. St. Eve allowed the two free on bond despite passioned pleas from the prosecution to keep them behind bars so they wouldn’t flee.
Muhammad Salah and Abdelhaleem Ashqar didn’t flee and were ultimately convicted on lesser charges. During and before trial, St. Eve set tight restrictions on the two, including house arrest and requiring a GPS monitoring bracelet for Ashqar.
* Prosecutors have called Scott Parrish to the stand. He was a private-equity investment officer for the Illinois Teachers’ Retirement System when Stuart Levine and Tony Rezko were allegedly corrupting the state pension board and steering investments to firms in exchange for kickbacks.
Parrish is giving the jury background information on how TRS was supposed to work. He said he oversaw investments and was a contact for investment firms interested in doing business with TRS:
He would contact fund managers and ask them to come in for meetings if TRS was interested in their investment proposal.
Jon Bauman, TRS executive director, would make recommendations to the board on proposals that the staff found to be acceptable, Parrish said. Bauman was the “final editor” of material that would be submitted to the TRS board for review.
* Levine previously testified on how his control over Bauman helped him steer business to firms willing to pay bogus finder’s fees. One such firm was Glencoe Capital. Parrish testified that Bauman asked him to contact the firm around 2002.
More to come later….
*** UPDATE *** 12:40 - Testimony has now concluded for the day. St. Eve is going to handle a sentencing in another case and then get back to the question of Rezko’s possible release. She has asked Rezko’s lawyer to be prepared with a figure that represents the total value of all the properties being pledged for bail.
The Tribune points to this prior action by the court:
St. Eve rejected his explanations for a $3.5 million wire transfer he received from Lebanon in 2007. The overseas money was sent on Rezko’s behalf after Rezko had told the court he had no access to funds from abroad.
* Check back with the blog to see St. Eve’s decision.
*** UPDATE *** 2:25 - This just in, Tony Rezko will be released from jail on $8 million bond:
Rezko’s lawyers proposed and the judge ordered that he be released to home detention on electronic monitors. He and his wife offered to post $350,000 in cash to ensure he would not flee. In addition, properties with a combined equity of $8 million were also be pledged to secure his bail.
* The decision came after 30 individuals pledged equity in their homes to secure Rezko’s bond. It appears that behind closed doors, St. Eve has cleared up some issues tied to a $3.8 million wire transfer Rezko didn’t disclose to the court last year. Most of that money went toward legal fees, according to the Judge.
“My decision is based in part in the significant number of individuals from the community coming forward, knowing full well that they will lose it if you fail to come to court and comply with conditions of the bond,” St. Eve said.
If Rezko flees: “You will leave me no choice to foreclose on these 30 individuals and take, what is in some instances, is their entire life savings,” she said. “$8 million Is a very very high bond. Certainly one of the higher I have ever seen set in this building.”
posted by Kevin Fanning
Friday, Apr 18, 08 @ 12:36 pm
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Why is it taking this long for Rezko’s lawyers to get him out of jail. If I were him, I would be furious. For a multi-mullionaire without any criminal history to not get bail is astounding to me. What took so long to line up this supporter?
Comment by Garp Friday, Apr 18, 08 @ 1:32 pm
That’s a good question. $8 million is a lot of money to put up for bail though.
Comment by Kevin Fanning Friday, Apr 18, 08 @ 1:35 pm
I say let him out on bail and if he “runs” we’ll have the fun of catching him again plus the bonus of $8 mill. toward the state’s (or Fed’s) massive debt.
Comment by A Citizen Friday, Apr 18, 08 @ 1:39 pm
Did I miss something about why bail is being reconsidered? Didn’t she revoke his previous bail because of some previous monkey business involving $3.5 million from the Iraqui businessman in London?
Comment by wordslinger Friday, Apr 18, 08 @ 1:56 pm
This time thirty of his properties have now been posted, totaling more than $8 million in equity to fund the bail.
Comment by Kevin Fanning Friday, Apr 18, 08 @ 2:01 pm
He’s been released. Bad decision.
Comment by Willie Stark Friday, Apr 18, 08 @ 2:29 pm
Well, let him run and it will damage Obama. Run Tony Run! Seriously folks, his wife makes $38k (I beleive) per year and came up with the money for bond, the money for that property next to Obama. She must be an excellent budgeter.
Comment by Wumpus Friday, Apr 18, 08 @ 2:40 pm
Goodness. I can’t think of anyone that I would put the house up for. He doesn’t seem very trustworthy.
Comment by PPHS Friday, Apr 18, 08 @ 2:46 pm
You’ll never see him again
Comment by Marvelous Wonderful Friday, Apr 18, 08 @ 2:49 pm
He has a right to bond, I assume.
I would wonder, though, if, given his financial connections, he couldn’t pay back those friends who are putting up their life savings (who ARE these people, they must be crazy) later once he had fled the country.
So the concept of bond here, is kind of slippery.
Wonder what he did with the 3 mil that Auchi sent over. Is that part of the bail fund?
Comment by Cassandra Friday, Apr 18, 08 @ 2:53 pm
Regardless of whether or not he is a flight risk, the guy has rights and deserves to be out on bond. I mean comon. Like A Citizen said, if he runs the state gets 8 mil.
Comment by Garp Friday, Apr 18, 08 @ 2:55 pm
Who actually would get the $8 miliion if he runs? What agency or unit of government?
Comment by One of the 35 Friday, Apr 18, 08 @ 2:56 pm
So, most of the 3.8 million went to legal fees which I am sure his crack legal team demanded which got him thrown in the slammer for a few months so he now has to have everyone he knows pledge their homes so he can sit at home and watch cable tv and imagine future days of watching soap operas in a federal prison. I don’t think he is too pleased with his legal reps right now.
Comment by Garp Friday, Apr 18, 08 @ 3:05 pm
Did he get home in time for the Cub game?
Comment by PPHS Friday, Apr 18, 08 @ 3:07 pm
He might be slick…maybe greasy is a better term and forgive my naivety but does he have the ability to remove the electronic braclett, get a new passport (didn’t he have to turn his in?) and get on a plane before the fed’s catch up with him? If he can, he’s Super Tony!
Comment by anon Friday, Apr 18, 08 @ 3:14 pm
If he does fee, will Blago be far behind?
Comment by South of I-80 Friday, Apr 18, 08 @ 3:21 pm
anon 3:14
this is not as hard as you might think.
Comment by nino Friday, Apr 18, 08 @ 3:21 pm
Did the Loop Lab school pledge its new place to secure his bond?
Comment by Anon Friday, Apr 18, 08 @ 3:27 pm
nino….are you speaking from experience???
Comment by anon Friday, Apr 18, 08 @ 3:29 pm
the last time i went to mexico i didn’t show a passport. once you get to mexico with cash anything is possible.
Comment by nino Friday, Apr 18, 08 @ 3:36 pm
Anon - good one about the Loop Lab Scandal (not a school).
He’s not going to run. If he was going to run, he would have never come back from Syria where he was when he was indicted.
Comment by Napoleon has left the building Friday, Apr 18, 08 @ 3:47 pm
If he runs, they’ll never find him.
Stand by your man.
Comment by Truth Friday, Apr 18, 08 @ 4:39 pm
Tony:
Stay away from the windows and eat only canned goods.
Just sayin’.
Comment by Gregor Friday, Apr 18, 08 @ 6:04 pm
Who has his passport? If he vanishes to Syria he solves a LOT of Gov B’s problems [and a minor one for our Freshman Senator]. How much $$$ is in Gov B’s election war chest?? Maybe if we’re lucky, he’ll do a Norman Hsu and get caught on a train in Ohio - after jumping bail and screwing all of his people here.
Comment by North of I-80 Friday, Apr 18, 08 @ 6:19 pm