Vijay Singh Offers bail Money

[JB]

http://sports.yahoo.com/golf/pga/news?slug=ap-stanford-singh&prov=ap&type=lgns

Vijay Singh has offered to help pay the $500,000 bail for financier Allen Stanford, but a federal magistrate would not allow it because the three-time major champion is not a U.S. citizen.

CNBC reported that Stanford’s attorney indicated in court Thursday that Singh, who is from Fiji, offered to sign for a portion of the bail. Prosecutors are appealing the decision to set bail for Stanford, who is accused of swindling investors out of $7 billion.

Stanford has pleaded not guilty to the charges.

Singh has an endorsement deal with Stanford Financial reportedly worth $8 million. Although no longer being paid, Singh has continued to wear the Stanford logo on his visor and shirt.

He did not play in Memphis, Tenn., two weeks ago in a tournament previously sponsored by Stanford. He is in the field at this week’s Travelers Championship.

“Vijay’s opinion is that Stanford has yet to be proven guilty and until then has chose to act supportively,” said Dave Haggith, a spokesman at IMG, the management company that represents Singh.

 

[Harry Longshanks]

Weird for many reasons.

 

[ClairefromClare]

Agreed.

In the past, I've certainly seen criminals pretty much take over a bank--where their cash flow becomes so important they control a community institution.

Stanford's the first one I've seen take over an entire country that way.

 

[worst_shot_ever]

Amazing that IMG would "let" Singh make the offer. Best they can spin it I guess is that it demonstrates Vijay has strength of his convictions.

 

[JB]

I agree WSE. But it seems like classic IMG in some ways.

 

[julie_m]

Huh??

What a bizarre, bizarre chain of events. I'd ask a lawyer to clarify, though I doubt I'd ever understand.

 

[Smallville]

Vijay Singh has offered to help pay the $500,000 bail for financier Allen Stanford, but a federal magistrate would not allow it because the three-time major champion is not a U.S. citizen.

I am not up to speed on this whole case. BUT!

I am not getting this? It is U.S. money he wants to put up, right?

How about he loans $500,000 to someone to put it up for him? Like maybe Stanford's wife/kids/whatever?

 

[Harry Longshanks]

I am not up to speed on this whole case. BUT!

I am not getting this? It is U.S. money he wants to put up, right?

How about he loans $500,000 to someone to put it up for him? Like maybe Stanford's wife/kids/whatever?

I wan't aware of a rule like that either Smalls. How would money from a U.S. citizen guarantee his appearance any more than money from a non-U.S. citizen?

 

[Diane]

I wan't aware of a rule like that either Smalls. How would money from a U.S. citizen guarantee his appearance any more than money from a non-U.S. citizen?

My understanding is that the full amount of bail is only paid if the defendent doesn't appear. So if Stanford skipped and Vijay went back to Fiji - they'd never be able to collect.

 

[julie_m]

My understanding is that the full amount of bail is only paid if the defendent doesn't appear. So if Stanford skipped and Vijay went back to Fiji - they'd never be able to collect.

That would make sense! But I was thinking like the guys on this one...why he doesn't just write a check to someone else to write for him isn't clear. Aren't there often funds for bail and lawyer fees (like when the defendant is low income)?

EDIT: Not to say he's low income. It's just the example I thought of.