REWALD REQUEST DENIED--LAST OF PROPERTY TO BE SOLD

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP90-00494R001100710007-1
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 22, 2016
• Document Release Date: July 26, 2010
• Sequence Number: 7
• Publication Date: January 17, 1985
• Content Type: OPEN SOURCE

Approved For Release 2010/07/26: CIA-RDP90-00494RO01100710007-1
request denied-last of property:
,alter Wright
fed#M ptdRe yesterday
bd d ewald strip-
at the last vestiges of a
million-dollar empire
with his investors'
fttdll~lias bought with
toad Rewald's trusting
not from the CIA, the
M "M himself, despite
g'salary of nearly $50,-
b the motion picture bust-
slid he is plagued with
:which are "forcing us
bkdkMPtCy.-i `
of the toppled Hono
last Week blocked Re-
plans to undergo surgery
;OM t ca cltppling back all-
District,. Cottet Judge
Martin Pence yesterday refused
to stay the sale of the trappings
of Rewald's once lavish life:
style, including 16 classic and
luxury cars, two boats, a collec-
tion of daggers and a suit of
armor.
Pence said the trustee han-
dlinc the bankruptcy of Re-
wald a defunct company "has
traced every dollar that went
into the gompany and out."
It war Rewald who offered
investors as much ifs a 50 per-
cent return on their' money in
"practically guaranteed" invest,
manta,' the judge said.
And it was Rewald who -
instead of investing the money
- "cannibalized" it, spending it
on cars, trips to Argentina, polo
ponies, tutors for his children,
salaries for consultants and lav-
Ish parties, Pence said.
Under the circumstances, the
judge said, the idea of delaying
the sale of assets is "preposter-
ou "
Robert Smith, Rewald's civil
attorney, said he will ask the
9th Circuit Court of Appeals to
block the sale.
But Smith added he may
agree to private sales at the
right prices, still preserving Re-
wald's claim to the proceeds.
Rewald has reported to the
criminal court that he is spend-
ing $5,885 a month and at best
has gross Income of $4,000 a
month
After selling the rights to his
life story to California movie
producer Ron Kauffman, Re-
wald was hired on as a consult-
ant. But he says he hasn't been
able to work full time because
of his legal and medical prob-
lems.
His expenses include $1,200 a
month rent and $1,000 a month
toward the costs of his legal
defense, the rest of which is
being paid by the taxpayers on
grounds Rewald can't other-
wise afford. ,an adequate de-
And there's a utility an
i phone bill of $575 a.mont
h.
E
~~
"We are obit)
IIb it k
Ody
ing it financially, and are cur-'
rently running behind on most
of our bills," Itewald said in a
report to the court.
BW
WA
I And, said Rewidd, iPl cur
ently lives in Los At*l :
"
I have over the put
ays sought professional L..p
nd counseling through Ameri-
an. Credit Services Inc. and
though it appears that they
now less than I do and it may
e just a further waste of
money."
Approved For Release 2010/07/26: CIA-RDP90-00494RO01100710007-1