Andy Bowdoin Makes $350,000 Bail After Relative Posts Surety Bond; No Date Set For Formal Arraignment On Fraud Charges In District Of Columbia

AdSurfDaily President Andy Bowdoin appeared before a federal magistrate judge in Florida after his arrest yesterday on charges of wire fraud, securities fraud and selling unregistered securities, the PP Blog has learned.

Bail for Bowdoin was set at $350,000. The bail was secured by two properties and a surety bond from a relative. Bowdoin was released after posting it.

No date has been set for the arraignment. Because Bowdoin was arrested in Florida on charges filed in the District of Columbia, the initial proceedings were conducted by a federal magistrate judge in Florida.

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6 Responses to “Andy Bowdoin Makes $350,000 Bail After Relative Posts Surety Bond; No Date Set For Formal Arraignment On Fraud Charges In District Of Columbia”

  1. Hm, sounds like Andy got off pretty cheap. Especially since one of the properties, the Condo in Myrtle beach, was bought with ASD money!! Plus, i thought none of his relatives wanted anything to do with Andy, since he has conned most of them also.

    The game is just starting. I wouldn’t dispell the possibility Andy might still leave the country. Just a thought….

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  2. So Andy has managed to delay the inevitable….what a shame….

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  3. This is not really a delay, but I do expect Andy to try and use every delay tactic in the book. He knows any sentence he gets is a death sentence, so he will do everything he can to delay dying in prison.

    The important decision now is the appeals court on the ruling of the asset forfeiture. Once that is denied, then the remission process can begin in earnest. Still even all the refunds are still a long way away. They have to sell the houses, cars, boats, water toys and the business building. Not counting the clawbacks from the ‘big’ winners of ASD. Hopefully before they go to prison for their role. At least I hope they get charged and go to prison. What a great example and precedent it would set if they did bust the promoters.

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  4. What I want to know is how did he manage to get such a low bond? He steals 110 million dollars and the bond is now a slap in the face of all the people he scammed.

    Justice is blind and stupid too!!!!!!

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  5. What I want to know is how did he manage to get such a low bond? He steals 110 million dollars and the bond is now a slap in the face of all the people he scammed.

    Jack,

    Here is all the info I have at this time:

    http://patrickpretty.com/2010/12/03/judge-at-bail-hearing-orders-bowdoin-to-surrender-passport-and-not-to-intimidate-witnesses-court-officials-order-issued-against-backdrop-of-payment-demand-by-2-asd-figures-for-29-trillion-from-fede/

    Patrick

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  6. Speaking of remission, claimants have untill January 19,2011 to snail-mail their claims in per here:http://www.adsurfdailyremission.com/Claim_for_Remission/Important_Dates.aspx

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