Updated On
08/29/08 at 08:37AM
Hochfelder's bail set at $1M
Adam Hochfelder and his wife, Amy
A Manhattan Supreme Court judge set the bail for Max Capital Management chairman Adam Hochfelder at $1 million. Hochfelder's lawyer, Paul Goldberger, said Hochfelder can't pay the bail because he sold all of his assets to pay more than $12 million back to family and friends, and that he must remain free because he's in need of outpatient rehab and sinus surgery for his alcoholism and cocaine addiction. Hochfelder was arrested Wednesday on fraud accusations.
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