(CMR) Cayman resident Andrew C. McAlpine posted a $1 million unsecured appearance bond and was permitted to fly from Florida to California over the weekend.
McAlpine is accused of being involved in a pump and dump stock scheme where the government claims he received at least a $6 million benefit from unsuspecting investors. The US federal government built their case against him and his co-accused after one of them became a federal informant.
Court records reflect that McAlpine was released from custody to be able to travel to San Diego, California on an American Airlines commercial flight on Saturday evening from Orlando, Florida. CMR broke the news over a week ago that McAlpine was arrested by FBI agents in Orlando where he was taken off a private charter flight that had left the Cayman Islands earlier in the day.
Conditions of his bond included the $1 million unsecured appearance bond and a $200,000 unsecured appearance bond which was provided by Stephen Walter Carnes. He was due to appear in court today at 2 pm in a San Diego federal court. Failure to appear would be forfeiture of both bonds.
McAlpine is also required to wear a GPS electronic monitor. McAlpine holds three passports and the U.S. government currently has two of them. He was permitted to retain his third, a British passport, in order to be able to travel to California.
McAlpine has been indicted in relation to securities fraud charges along with three other co-defendants. He is also a defendant in a U. S. Securities and Exchange Commission that was filled last week.
McAlpine is Canadian but posted his Cayman Islands long term residential address. CMR understands he was traveling to Canada to visit his elderly father.