Photo: Information Week
Wini Jiau has dropped her bid to get out of jail and abandoned her bail application after the judge “said he’d almost certainly reject it,” FinAlternatives reports.Jiau was arrested back in December as part of the FBI’s sprawling insider trading probe.
She had been a consultant for Primary Global Research, an expert network firm, and is alleged to have provided tips to hedge fund managers for $200,000.
Judge Jed Rakoff said, according to Bloomberg, “it was “unlikely” that even if Jiau found more or different people to co-sign her bond, it “would be sufficient to change the court’s view that no combination of conditions would reasonably assure defendant’s appearance if she were not detained.'”
The government argues that Wini is a huge flight risk because she has dual U.S-Taiwanese citizenship. Also, feds say when they arrived to arrest her last year, she had packed her bags, had $20,000 in cash and her car was running.
Nonetheless, the judge granted bail. But Jiau couldn’t pay the bond, so remained in prison. Subsequently, a judge heard how she had discussed fleeing in code with a friend and former lover, and asked him to hide some of her assets, so Judge Rakoff revoked the bail.
Jiau has continued to fight to get out of jail. But with the recent order, has obviously decided to withdraw for the time being.