Judge: Rezko can go free on bond
After spending 2 1/2 months in a downtown federal lockup, Tony Rezko will be allowed free to spend nights in his Wilmette mansion, a judge ruled this afternoon. The decision came after more than a dozen individuals pledged equity in their homes to secure Rezko's bond.
Rezko will be kept under home arrest and on electronic monitoring.
(Richard A. Chapman/Sun-Times)
Friends and famiy stepped forward to post more than $8 million in property equity and an additional Rezko’s wife, Rita, put up another $380,000 in cash as insurance that Rezko will not flee.
Both Rita Rezko and Tony Rezko spoke to the judge in open court, under oath, and swore to the amount of assets they own and vowed to tell the judge of any new money that came to them.
U.S. District Judge Amy St. Eve hasn't made her ruling yet, but the way she's talking, it sure sounds like she's going to release Tony Rezko out on bond.
The pledge of $8 million is $6 million more than what friends and family posted on Rezko’s behalf in 2006.
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 St. Eve.
"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."
Rezko smiled wide at the news, one of his sons celebrated, high-fiving friends. Rita Rezko kissed and hugged family members, who crowded into several courtroom benches.