Ohio Judge Again Reduces Willan Bail Bond; Still Unaffordable

In Akron, Ohio, the Akron Beacon Journal reports:

• Former Evergreen Corp. President David B. Willan remained in the Summit County Jail on Monday after being unable to post a $100,000 cash bond, and he may remain there through trial, his lawyer said. [...] Willan, 37, the focus of a 147-count indictment alleging widespread Akron-area mortgage fraud, has been held at the jail since his Dec. 19 arrest. He is one of 17 defendants in the case. The 66-page indictment alleges that Willan and the others set up a web of predatory borrowing and securities scams that bilked area investors, homeowners and lenders out of some $16 million.

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• Last Friday, a judge modified the terms of Willan's release, from a $1 million cash or surety bond to a $1 million, 10 percent cash bond. But Willan's attempts over the weekend to come up with the necessary $100,000 were unsuccessful, [defense lawyer William] Whitaker said.

The bond was originally set at $3 million. For more, see Evergreen leader fails to raise cash for bond (Lawyer says mortgage-fraud suspect lacks funds, might stay in jail through trial).

For story updates, see:

• (12-6-08) Willan guilty of all charges in fraud case (Bond revoked after businessman convicted of theft from elderly, plus mortgage and securities counts),
• (3-30-08) Clock is ticking on Willan fraud case (Woman is among those saying she lost everything in what county, state officials call a $16 million scam. Judge gives prosecutors 30 days to spell out allegations),
• (3-21-08) Willan liquor license targeted (New indictment goes after his 'Stripped' club).

Go here for other posts on David Willan and the Akron-area 147 count mortgage fraud indictment.