Kirk Wirght and the SEC's Case for Stay of Pretrial Release
The SEC offered the following evidence that there should be a finding of either danger to the community or risk of flight which would be sufficient to detain the defendant pending trial.
a. "By way of proffer at the Florida detention hearing, the Government established that although approximately $100 million was deposited with IMA and IMAAG over the past several years, IMA's client assets during the Fall of 2005 and Winter of 2006 totaled less than $500,000."
b. "It was undisputed at the hearing that the defendant was made aware of the existence of the federal warrant since March 2006, never surrendered or made his whereabouts known, and operated under false identities. He was also advised by his former counsel that the FBI was actively looking for him, and that he must turn himself in. Defendant never did so. Ultimately, he was arrested at the Ritz Carlton Hotel in Miami Beach, Florida, where he had been staying with his wife under a false name (Mark Lakean) since May 14, and where he had been paying cash."
c. "At arrest, the agents discovered the defendant had bank debit cards under the alias Lakean. The defendant also stated that he had altered his own Georgia driver'slicense to bear the name Lakean, and he possessed a false identification card under a different name, Bryce Buchman. The agents also found an "Exacto" knife and laminating materials, of a sort that could be used to manufacture identity cards."
d. "The Government proffered that bank records show the defendant made two cash withdrawals - preceded by transfers of funds from IMA/IMAAG accounts --in the amount of $500,000 total, in January 2006."
e. "Moreover, the Government proffered that the arresting agents discovered approximately $30,000 in cash in the defendant's belongings at the hotel. The defendant also admitted that he had purchased a 2004 Mercedes with cash, and had put $40,000 in cash down towards the purchase of a Miami condominium. The remainder of the $500,000 cash hoard secreted by the Defendant in January 2006 is unaccounted for. The agents also discovered real estate listings for a property in Puerto Rico. "
f. "The Government proffers that the defendant's wife was personally advised of the existence of the arrest warrant in March 2006. She told the FBI that she did not know of her husband's whereabouts, and had only one telephone number for him (which the FBI discovered was discontinued or inactive). She promised that she would contact the FBI if she heard from the defendant. She did not do so. Instead, she was found by the defendant's side at the pool of the Ritz Carlton, when he was arrested. In the hotel room, the defendant had seven cellular phones in his possession. His wife also had multiple cellular phones. The Government submits that this activity indicates an intent to conceal their communications and ultimately the defendant's location. It also suggests the defendant was receiving assistance from his wife and/or that his wife was not cooperating with the FBI to the extent she assured she would. "
What was Mr. Wright's response to all of this?
Mr. Wright "argued that he was not evading federal authorities but rather was avoiding 'threats' that he claims had been made to him and his family by some of the investors. He also pointed to the fact that his counsel initially discussed surrender, although with demands, as evidence that he was not a risk of flight. Defendant also produced family members, including his mother, who offered to put up property for bond. "
What a better place to avoid threats from unhappy clients than jail?
