Bail was set at $5 million Thursday for the president of an Oregon investment research firm whose obscenity-laced phone calls to prosecutors and FBI agents was described as disgraceful by the judge who will preside over his securities fraud case.
U.S. District Judge Deborah A. Batts said the bail for John Kinnucan can be secured with $100,000 in cash or property, but his lawyer said the defendant’s home cannot be used because he owes more than it is worth.
The judge also ordered Kinnucan not to use any electronics such as computers or telephones while he awaits trial on charges that he used his position as president of Broadband Research LLC to lure secrets out of public company insiders. The government said he would then sell the information to hedge funds and money managers as if it were legitimate research.