- Posted August 30, 2011
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Money manager linked to fraud can't leave jail
DETROIT (AP) -- A federal appeals court has refused to intervene and release a Detroit-area money manager who is facing fraud-related charges.
The court says it won't upset a decision by a federal judge who ordered John Bravata to jail in June because of a fear that he might flee the country.
Bravata is charged with conspiracy to commit fraud. Authorities say he collected $53 million from investors. He insists he invested the money in real estate and denies any fraud.
The appeals court said last week that pre-trial detention is appropriate because Bravata has a "strong motive" to flee. He was arrested in May after returning to the U.S. from Italy.
Authorities say he was exploring whether he could avoid extradition to the U.S. if indicted while in Italy.
Published: Tue, Aug 30, 2011
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