A celebrity stockbroker, Hollywood dad and multimillionaire will remain behind bars in Sydney while his supporters raise $1 million for his bail.

Larry Richard Williams, father of actor Heath Ledger's Oscar-nominated fiancee Michelle Williams, is wanted in the United States for allegedly evading $1.5 million in tax between 1999 and 2001. The monies relate to proceeds from Williams' 10 books and his earnings from the international speaking circuit.

The two-time US Senate candidate and prolific sharemarket trader was arrested after arriving at Sydney airport on Saturday, ahead of a month-long speaking tour of Australia and New Zealand. Central Local Court magistrate Allan Moore today granted Williams $1 million strict conditional bail, so he could fulfil his Sydney speaking commitments from June 10-14.

Outside court, his lawyer Chris Watson said Williams would remain in jail until at least tomorrow while supporters worked to raise the steep surety, $500,000 of which must be provided up front. "It's a very difficult bail but hopefully he's got a lot of support and a lot of people believe in him," Mr Watson said. "I probably think we'll get him bail by tomorrow with any luck." Williams' bail money was largely tied up in assets, Mr Watson earlier told the court.

Offers to post bail had flooded in from strangers across the globe who were "prepared to put down their savings", he said.

Source: News.com

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Posted by Lawren at May 24, 2006 07:01 AM | Trackbacks (0)

You Said

I feel sorry for michelle. Just having little matilda then to have this happen..

Says: Jennifer Bates at May 29, 2006 12:04 PM

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