The Southern New York District Court of the United States has yesterday approved the final list of bail conditions that Ali Sadr must satisfy for his pre-trial release pending his trial for bank fraud and sanctions busting in the US Federal Court in New York.
Ali Sadr and 15 other signatories have to hand in $32.6 million in bonds. The largest chunk – $20 million – will come from Mr Sadr’s own wealth and that of his mother and two sisters including the equity interest in Pilatus Bank, Malta.
Ali Sadr will be subject to electronic monitoring and a nightly curfew of 7pm.
He cannot claim funds from his Cyprus bank accounts and though his lawyers can use that money for their own fees they are not to share any money with him.
He is physically restricted to South and East New York, East Virginia, Maryland and Washington DC. He is to give up all his passports and not acquire new ones.
Ali Sadr waives any right to contest extradition from any foreign country.
Ali Sadr seen at the Intercontinental Hotel the morning after he rushed bags out of Pilatus Bank. First published on daphnecaruanagalizia.com.