NEW YORK – The $500,000 bail for a California woman accused of feeding insider trading information to hedge funds has been revoked after prosecutors unveiled new evidence supporting their argument that she wanted to flee after her arrest.
Federal Judge Robert Patterson denied bail Wednesday for Winifred Jiau (JOW) after prosecutors said she spoke in coded language about fleeing in a jailhouse conversation with a friend.
Prosecutors also said she failed to disclose $20,000 in cash in her residence at the time of her December arrest and that she had moved more than $100,000 from a bank account in the months before she was charged.
Jiau has pleaded not guilty to security fraud charges. Prosecutors say she will flee to China or Taiwan if freed.
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