COURT: REWALD NEED POST ONLY $20,000 CASH BAIL

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Document Number (FOIA) /ESDN (CREST): 
CIA-RDP90-00494R001100690086-7
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RIPPUB
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K
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2
Document Creation Date: 
December 22, 2016
Document Release Date: 
August 10, 2010
Sequence Number: 
86
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Publication Date: 
November 10, 1983
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OPEN SOURCE
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PDF icon CIA-RDP90-00494R001100690086-7.pdf127.22 KB
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Sanitized Copy Approved for Release 2010/08/10: CIA-RDP90-00494RO01100690086-7 court: Rewald Need Posh Only $20,000' Cash Bail By Lee Catterall Star Bulletin Writer After tree months in prison, Ronald Rewald faced the pros- pect of freedom today with a Su- preme Court victory lowering his bail and news of "out-of-town" visitors willing to pay it. The state Supreme Court ruled yesterday that Rewald could gain freedom by posting only $20,000 in cash, one-tenth of the bail level set last month by Circuit Judge Robert W.B. Chang. The high court kept Rewald's Although Rewald claims property worth more than $4 mil. lion, all his assets have been frozen in federal bankruptcy pro- ceedings involving his now-de- funct investment firm. His criminal attorney, Samuel P. King Jr., and civil attorney. Robert Smith, would not specu. late on whether Rewald would be able to post bond. However, Smith acknowledged in court questioning by Ross that he was contacted last weekend by people interested in posting his bond. Ross said he had learned about the "visitors from out of town" through a Honolulu bail bond company. He said he was told that the benefactors "were told to wait for the Supreme Court" to rule on the matter. "We know that some people are in town inquiring about lit," Ross told Chang. Smith said in court that he was contacted by "people who are willing to put up their own money" for Rewald s bail. QUESTIONED BY reporters, Smith would not disclose who contacted him, but said there is "a widespread group of people who believe in Mr. Rewald." King said he had not been con- tacted by people interested in posting Rewald's bond. "I don't know anything about that," King told reporters. "They didn't contact me." a request by Ross to increase Re. wald's bail to $500,000 in cash. Ross said his court request was' prompted by disclosure of a Sept. 9 letter by Smith to Sovereign Life Insurance Co. predicting that, Rewald would "take his own life"' if Sovereign and Northwestern , Mutual Life Insurance Co. were to refuse to pay for his co defense. At the time, Rewald's life w insured for $2 million with Sove eign and more than $3.2 miliio with Northwestern. Admitting in the letter that th - proposal was "bizarre," Smith; maintained that it made "ulti-' mate economic sense" because of`` the prospect of Rewald commit- ting suicide and the insurance companies having to pay the insurance money to his family. IF REWALD were unable to "pursue" a defense because of lack of money, Smith said in the, letter, "Mr. Rewald will take his.a own life. I say this to a moral certainty, for I know that he, i been recovering from wrist slashes inflicted in a suicide at- tempt. Chang set his bail the fol- lowing day at $10 million but lowered it on Oct. 24 at bis attor. ney's request. since his arrest on Aug. 8 at Queen's Hospital, where he had bail at the $200,000 level but ruled that he need not post it entirely in cash, as Chang had ordered. Instead, the justices ruled that Rewald may post $20,- 000 in cash and have a bail bondsman insure the remainder. "I have a feeling now that he's going to come up with the $20,- 000," said Deputy City Prosecutor Arthur Ross. Ross said he plans to ask the Supreme Court to reconsider its rqing. Rewald is charged with two counts of first-degree theft stem- ming from activities in the now- bankrupt investment firm of Bishop, Baldwin, Rewald. Dilling. ham & Wong. HE HAS BEEN imprisoned The Supreme Court ruling was announced by Chang near the close of a hearing before him on IONOLULU STAR--BULLETIN )ATE: -////0/?2 'AGE: A-/L STAT Sanitized Copy Approved for Release 2010/08/10: CIA-RDP90-00494RO01100690086-7 Sanitized Copy Approved for Release 2010/08/10: CIA-RDP90-00494RO01100690086-7 fly committed to doing so when the point, is reached that legal effort to defend him must be abandoned. "Given the freeze order on his personal assets and given, fur- ther, the total lack of ability to finance any defense because of the freeze order," Smith wrote. "suicide is the only way, he (Re- wald) feels, that he can ever pro- vide for his wife and five chil- dren." Smith said he felt at the time that Rewald "was making a logi- cal and calculated decision" to commit suicide for his family's financial support. Smith said he learned of Re- wald's commitment during "a blood-curdling conversation" with him. "He had no way to provide for his wife and children other than to take his life," Smith said. Smith said Rewald had set a "deadline" for committing suicide unless money was freed for his defense, and he "was going to meet that deaZT!-r4-!% the most drastic of ways." REWALD CHANGED his mind after the letter was written. Smith said, because his two Sovereign policies and one of his two Northwestern policies lapsed. The other Northwestern policy will lapse on Tuesday. he said. Also, he said, Rewald became convinced that any proceeds from life insurance policies would go to Bishop, Baldwin investors instead of his family. There is only "an outside chance" that any proceeds of the still-valid Northwestern policy would go to Rewald's family if he, were to kill himself, Smith said. "His decision is not to do it," Smith said. "I think his staying and fight- ing is the only way he can help himself and his wife and his family," Smith added. He said Re, wald now "has a very strong grip on his life." However, in asking Chang to set a higher bail, Ross sugges~ ice" that Rewald has "an attitude somewhat like a kamikaze pilot." If he does not commit suicide. Ross warned, there is a "strong possibility of (Rewald) fleeing." Chang agreed with Ross t$aS Rewald "would go to any length. to do what he can for his fam}t' ly," but he refused to change Re. wald's bail. The judge made that' ruling before he got word of th high court's decision on the bai issue. Sanitized Copy Approved for Release 2010/08/10: CIA-RDP90-00494RO01100690086-7