By Matthew Russell Lee, Patreon Maxwell book
SDNY COURTHOUSE, March 1 – SDNY prosecutors announced on March 1 the "arrest of KEVIN CHIU, a former business relationship manager at a financial institution headquartered in Manhattan, for a years-long bank fraud and embezzlement scheme to steal over $2 million from his former clients’ accounts. CHIU was arrested this morning in Brooklyn and will be presented today before U.S. Magistrate Judge James L. Cott."
Inner City Press went to the presentment in the U.S. District Court for the Southern District of New York Magistrates Court, the only media there.
Chiu was brought out, in sweatpants and a white T-shirt. Despite the $2 million theft alleged, he was assigned a publicly-paid Federal Defender (who had been summoned up to an unrelated proceeding which Inner City Press also covered).
The SDNY prosecutors had agreed that Chiu could be released on $300,000 unsecured bond, but wanted three co-signers as opposed to the single co-signer requested by the Federal Defender, and recommended by Pre-Trial Services.
Judge Cott, after argument, said he would "split the baby" and require two co-signers, in two weeks.
The case is US v. Chiu, 23-mj-1575 (Cott)
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