- Prosecutors claim Zimmerman had $135,000 available that had been raised by a website he set up
- Defense attorney Mark O'Mara said Zimmerman and his wife never used the money for anything
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In custody, again: Zimmerman posed for yet another mugshot after returning to Sanford after a judge in the case revoked his bail
George Zimmerman turned himself into authorities and returned to jail this afternoon, six weeks after being released on bond.
Looking slightly heavier and with his hair grown out, Zimmerman arrived at the Sanford County jail in Sanford, Florida, shortly after 1:40pm traveling in a white mini-van accompanied by sheriff's deputies and his attorney, Mark O'Mara.
On Friday a judge revoked Zimmerman's $150,000 bond, posted in April while he was awaiting trial, after prosecutors accused him of withholding one of two valid passports and said his wife did not tell the court about money donated for his legal defense.
Circuit Court Judge Kenneth Lester Jr gave 28-year-old Zimmerman 48 hours to surrender to the Seminole County Sheriff.
After he arrived, Zimmerman was to be booked again and placed into isolation in administrative confinement for his own protection, a law enforcement official told ABC.
His attorney Mr O' Mara said: 'The defense team hopes that Mr Zimmerman's voluntary surrender to Sanford police will help demonstrate to the court that he is not a flight risk.'
He returned to Central Florida from an undisclosed location, arriving late on Saturday evening.
His imminent return to jail was the latest twist in a murder case that has riveted the United States and sparked widespread debate over guns, self-defense laws and U.S. race relations.
It was just six weeks ago that Zimmerman was freed on bail before he waived his right to a speedy trial.
Surrender: George Zimmerman arrives at the John E. Polk Correctional Facility after his bond was revoked by a Florida judge in Sanford, Florida, on June 3, 2012
Back to jail: Zimmerman has been charged with second degree murder in the February 26 shooting of 17-year-old Trayvon Martin in Sanford
Had he not had this revoked, he would have spent the next year or even two in hiding at a secure location while awaiting trial. Now, he could spend that time in isolation.
Zimmerman's credibility could become an issue at trial, legal experts said, noting the case hinges on jurors believing Zimmerman's account of what happened the night in February that Martin was killed.
The neighborhood watchman wasn't charged in the case until more than a month after the shooting.
Protests were held across the nation, and the case spurred debate about whether race was a factor in Zimmerman's actions and in the initial police handling of the case. Martin was black; Zimmerman's father is white and his mother is from Peru.
Custody: George Zimmerman is handcuffed and escorted into jail just before his 48-hour deadline expired
Police in Sanford did not immediately arrest Zimmerman, citing the Florida law that gives wide latitude to use deadly force rather than retreat in a fight if people believe they are in danger of being killed or seriously injured.
The questioning of Zimmerman's truthfulness by the judge on Friday could undermine the defendant's credibility if it is brought up at trial.
It also may complicate how his defense presents him as a witness, said Orlando-area attorney Randy McClean, a former prosecutor.
The other key witness, unfortunately, is deceased, McClean said. Basically, Zimmerman is going to be asking the jury to believe his version of the facts.
As the case stands now, his credibility is absolutely critical to the case.
Revoked: George Zimmerman testifies from the stand during a bond hearing on second degree murder charges at the Seminole County Courthouse in Sanford, Florida in this file photo taken April 20, 2012
George Zimmerman, charged with killing 17-year-old Trayvon Martin, right, stands next to a Seminole County Deputy during a court hearing in Sanford
Jail authorities in central Florida, where the case arose, said Zimmerman had not turned himself in there by early Sunday. He must do so by Sunday afternoon.
Zimmerman went into hiding in the weeks after the shooting and his exact whereabouts since he bonded out of jail remain unclear.
It was not immediately clear exactly where Zimmerman would surrender.
Zimmerman's credibility would be important if his attorney, Mark O'Mara, tries to get a judge without the jury to dismiss the charges based on the law, said Orlando defense attorney David Hill.
'If he was in on something that was not truthfully revealed to the judge, when there is a 'stand your ground' hearing, of course you're going to second-guess him,' said Hill.
The revocation of Zimmerman's bond also puts pressure on O'Mara not to delay the trial, McClean said.
'When your client is out on bond, the pressure is much lighter to rush to trial ... because your client is sitting at home," he said.
'When your client is sitting at the Seminole County Jail, your client is going to want this resolved.'
As he revoked Zimmerman's bail on Friday, the judge said Mr Zimmerman had responsibilities to stop his wife, who testified at one hearing, and his lawyer from making false statements.
'Mr Zimmerman can't sit back a potted palm and let his wife testify falsely before the court when he knew well in advance of the hearing the amounts of money in controversy,' said Judge Kenneth Lester.
Case: Zimmerman, right, shot Martin, left, in February during a confrontation at a gated community of townhouses in Sanford, Florida, where Zimmerman lived and where Martin was visiting his father's fiancee
'He can't sit back and obtain the benefit of a lower bond based upon those material falsehoods.'
Under Florida's Rules of Criminal Procedure, a judge has discretion to revoke a defendant's bail if he finds there's 'good cause' to do so.
Lying to a court about one's finances apparently fits the bill.
In arguing for George Zimmerman's bail to be revoked, prosecutors asserted his wife Shelly 'flat-out lied' to get a lower bail.
'This court was led to believe that [George Zimmerman and his wife] didn't have a single penny,' one prosecutor argued.
A Seminole County Sheriff's Deputy waits for George Zimmerman in front of the Seminole County Jail after Zimmerman's bond was revoked in Sanford, Florida
But it turns out the Zimmermans had collected about $200,000 in online donations via a website -- a fact Zimmerman's attorney Mark O'Mara has acknowledged.
In addition, Zimmerman and his wife 'spoke in code to hide what they were doing' during jail telephone calls, prosecutors alleged.
Prosecutors also used phone conversations recorded between Zimmerman and his wife Shelly, to show that the pair intentionally deceived the court by talking in code that designates multiples of thousands to much lower sums.
George Zimmerman asks: 'in my account do I have at least $100?
Shelly Zimmerman responds: '$8. $8.60'
Bailed: Neighborhood watch volunteer George Zimmerman (L) leaves the Seminole County Jail in April after posting bail in Sanford, Florida
Defense attorney Mark O'Mara said the fact that Zimmerman and his wife never used the money for anything indicated 'there was no deceit.'
Since his release in late April, Zimmerman has been staying at an undisclosed location for his safety.
Prosecutor Bernie De la Rionda described the Zimmermans' testimony as 'misleading'.
'This court was led to believe they didn't have a single penny,' said De la Rionda. 'It was misleading and I don't know what words to use other than it was a blatant lie.'
The judge said he would schedule a hearing after Zimmerman is back in custody so the neighborhood watch leader could explain himself.
It was also revealed that Zimmerman kept a second passport at his home and he and his wife can be heard to discuss it.
'I have one for you in the safety deposit box,' said Shellie.
'Okay, you hold onto that,' replied Zimmerman.
Shot dead: In this undated photo provided by the Martin family, Trayvon Martin holds an unidentified baby. Martin was killed by a neighborhood watchman following an altercation in Sanford, Fla. as he walked from a convenience store in February, 2012
Zimmerman is pleading not guilty to second-degree murder and claims self-defense. Zimmerman shot Martin in February during a confrontation at a gated community of townhouses in Sanford, Fla., where Zimmerman lived and where the 17-year-old Martin was visiting his father's fiancee.
Benjamin Crump, an attorney for Trayvon Martin's parents, Tracy Martin and Sybrina Fulton, said his clients have always said Zimmerman should remain in jail until trial, which O'Mara said he believed wouldn't be until next year.
Crump was asked if he thought that if Zimmerman would be willing to lie about his finances that he would be willing to lie about what happen the night Martin was killed.
'We fully expect that the special prosecutor will make George Zimmerman's credibility be front and center in this entire case,' Crump said. 'And whatever dishonesty that comes forth by George Zimmerman that they can prove, you can best believe it will be the issue of this case and rightfully so.
Prosecutors also said Zimmerman had failed to surrender a second passport, but the judge dismissed that concern as the equivalent of someone who has lost a driver's license, applies for a new one and then finds the old driver's license.
Killed: Zimmerman is pleading not guilty to second-degree murder and claims self-defense in the shooting death of Trayvon Martin
The delay in an arrest for 44 days prompted protests nationwide and led to Sanford's police chief stepping aside so emotions could cool down.
At Friday's court hearing, De la Rionda and O'Mara also asked a judge to stop the public release of witness names and statements made by Zimmerman to police officers. Those documents normally are part of the public record under Florida law.
BACKGROUND
George Zimmerman started a website to raise funds for his legal defence under the URL www.therealgeorgezimmerman.com in April.
‘I have created a Paypal account solely linked on this website as I would like to provide an avenue to thank my supporters personally and ensure that any funds provided are used only for living expenses and legal defence,’ he posted on the website in April
According to prosecutors, he allegedly raised $135,000 but the website was shut down on April 24 so his attorney could regain control of the fundraising drive.
The 28-year-old's bond hearing was on April 20, where the amount of money the website had raised was not disclosed.
Zimmerman was released from jail on April 23 on a $150,000 bond after paying 10 per cent upfront.
Later that week, his lawyer told CNN that the website had raised more than $200,000 in donations.
'What's occurring, unfortunately, are cases are being tried in the public sector as opposed to in the courtroom,' De La Rionda said. 'We are in a new age with Twitter, Facebook, and all these things I've never heard of before in my career. Everybody gets to find out intimate details about witnesses that never occurred before. Witnesses are going to be reluctant to get involved.'
A consortium of more than a dozen media groups, including The Associated Press, asked the judge to ignore the request, saying such records are presumed to be publicly available under Florida law.
Rachel Fugate, an attorney for the Orlando Sentinel, cited the Casey Anthony trial as an example of a highly publicized case in which a jury was able to be seated despite intense media coverage. The Florida mother was acquitted last year of killing her 2-year-old daughter.
'Discovery in Florida has traditionally been open ... and Florida hasn't encountered problems seating juries and giving defendants fair trials,' Fugate said.
O'Mara said Friday on a website that he doesn't expect the case to be ready for trial until next year.
O'Mara said he expects to call on 50 witnesses who need to be deposed before he decides whether to file a "stand your ground" motion which would ask for a hearing before a judge without a jury. At the hearing, Zimmerman would argue self-defense under the Florida law which gives wide latitude to use deadly force rather than retreat in a fight if people believe they are in danger of being killed or seriously injured.
The outside of Seminole County Jail, the John E. Polk Correctional Facility prior to the return of George Zimmerman
Emerging Stocks Drop to 6-Month Low on China, U.S. Data - Bloomberg
Emerging-market stocks fell, dragging the benchmark index to a six-month low, after China’s non- manufacturing sector grew at a slowest pace in more than a year and the U.S. added fewer jobs than economists forecast.
Samsung Electronics Co., which gets 58 percent of its sales from the U.S. and China, led losses by technology companies. Lonking Holdings Ltd., a Chinese construction machinery maker, plunged 9 percent in Hong Kong after forecasting lower profit. Cnooc Ltd. paced declines by commodity producers as oil and copper prices sank.
The MSCI Emerging Markets Index (MXEF) fell 1.7 percent to 878.97 as of 2:34 p.m. in Hong Kong, heading for the lowest close since Nov. 25. The gauge slid 0.9 percent last week, an 11th straight week of declines, and has lost 4.1 percent this year. Hong Kong’s Hang Seng China Enterprises Index traded more than 20 percent below its peak this year after slumping 2.9 percent today. Benchmark indexes in the Philippines and Indonesia tumbled more than 3 percent.
“Elements of a perfect storm are emerging in the market, driving investors to take money off the table and raise cash,” said Paul Joseph Garcia, who helps manage about $17 billion at BPI Asset Management Inc. “Data from the U.S. and China combined with Europe’s debt crisis are feeding fears of a global slowdown.”
China’s non-manufacturing purchasing managers’ index fell to 55.2 in May from 56.1 in April, the National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday in Beijing. U.S. unemployment rose to 8.2 percent in May and payrolls increased less than the most-pessimistic forecast in a Bloomberg News survey of economists, Labor Department figures showed June 1. European leaders remain divided on solutions for the region’s debt crisis.
JPMorgan Chase & Co. cut China’s 2012 growth forecast to 7.7 percent from its previous estimate of 8 percent, citing increasing downside risks in the euro area.
-- Editors: Richard Frost, Allen Wan
To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net
To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net
European Futures, Asian Stocks Fall on Growth Concern; Oil Drops - Bloomberg
European equity futures and Asian stocks fell, Chinese shares in Hong Kong headed for a bear market and oil tumbled after data from the U.S. and China added to evidence of a global economic slowdown. The dollar strengthened and Spanish bonds yields climbed.
Euro Stoxx 50 Index futures declined 1.1 percent as of 7:13 a.m. in London and the MSCI Asia Pacific Index (MXAP) fell for a fourth day to the lowest level since October. Japan’s Topix Index slid 1.9 percent, the lowest close since Dec. 13, 1983, and Hong Kong’s Hang Seng China Enterprises Index traded more than 20 percent below its peak this year. Standard & Poor’s 500 Index futures slipped 0.6 percent and oil retreated to an eight-month low. The dollar rose against most major currencies. Spain’s 10- year yields rose four basis points to 6.57 percent.
“People are more concerned about a return of their capital as opposed to a return on their capital,” said Nick Maroutsos who oversees about $2.9 billion as managing director and co- founder of Sydney-based Kapstream Capital. “The recovery is still going to continue to have fits and starts. We need something more substantial that’s going to get investors back into the market. Until we get that, we’re not going to see risk assets perform well.”
China’s non-manufacturing purchasing managers’ index fell to 55.2 in May from 56.1 in April, the National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday in Beijing. U.S. unemployment rose to 8.2 percent in May and payrolls increased less than the most-pessimistic forecast in a Bloomberg News survey of economists, Labor Department figures showed June 1. European leaders remain divided on solutions for the region’s debt crisis.
Dollar Strengthens
The greenback advanced against 12 of its 16 major peers, with the Australian dollar leading declines, down 0.4 percent to96.65 U.S. cents.
Australian bonds climbed, with yields on maturities of one year or longer falling to record lows. Australian three-year yields declined as much as 14 basis points to a record 1.89 percent. The one-year-rate touched 2.338 percent. Yields on Japan’s benchmark 10-year securities fell to 0.79 percent, the least since June 2003.
The MSCI Asia-Pacific Index dropped as much as 2.4 percent to the lowest level since October, with 15 shares falling for each that rose. Sony Corp. (6758) dropped below 1,000 yen in Tokyo trading for the first time since 1980, when the Walkman was introduced in the U.S. The shares fell as much as 2.3 percent to 990 yen on the Tokyo Stock Exchange.
Australian corporate bond risk surged to the highest level since November, according to traders of credit-default swaps, with the Markit iTraxx Australia index jumping 10 basis points to 212, according to Westpac Banking Corp. The gauge of default swap contracts on 25 companies was set for the highest close since Nov. 28, and the biggest daily increase since May 16, according to data provider CMA.
Oil, Copper
“There’s a lot of psychological pressure among investors with the weak non-manufacturing data in China and global issues such as U.S. data and the euro crisis dragging on stocks,” said Tang Yonggang, an analyst at Hongyuan Securities Co. in Beijing.
Oil for July delivery lost as much as 2.1 percent to $81.50 a barrel in electronic trading on the New York Mercantile Exchange, the lowest close since October. Copper futures for July delivery fell 1.7 percent to $3.26 a pound on the Comex in New York. The London Metal Exchange is closed today for a public holiday.
To contact the reporters on this story: Mariko Ishikawa in Tokyo at mishikawa9@bloomberg.net; Adam Haigh in Sydney at ahaigh1@bloomberg.net.
To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net
Asian Stocks Fall After U.S. Jobs Report
Tomohiro Ohsumi/Bloomberg
“There’s a lot of psychological pressure among investors with the weak non-manufacturing data in China and global issues such as U.S. data and the euro crisis dragging on stocks,” said Tang Yonggang, an analyst at Hongyuan Securities Co. in Beijing.
“There’s a lot of psychological pressure among investors with the weak non-manufacturing data in China and global issues such as U.S. data and the euro crisis dragging on stocks,” said Tang Yonggang, an analyst at Hongyuan Securities Co. in Beijing. Photographer: Tomohiro Ohsumi/Bloomberg
June 4 (Bloomberg) -- Uwe Parpart, chief strategist and head of research at Reorient Financial Markets Ltd., talks about the outlook for the U.S. economy, Europe's debt crisis and its implications for global markets. He speaks with Rishaad Salamat, Susan Li, Zeb Eckert and David Ingles on Bloomberg Television's "Asia Edge." (Source: Bloomberg)
June 4 (Bloomberg) -- Mark Matthews, Singapore-based head of research for Asia at Julius Baer, talks about the outlook for the region's stock markets, economies, and the price of gold. He speaks with Rishaad Salamat on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
Tokyo stocks hit 28-yr low as investors flee risky assets - Reuters India
TOKYO |
TOKYO (Reuters) - The Tokyo market slumped to a 28-year low on Monday as Asian shares dived on fears of a nightmare scenario of euro-zone breakup, U.S. economic relapse and a sharp slowdown in China.
Tokyo's Topix index lost as much as 2.4 percent to 692.18, a level not seen since late 1983, according to Reuters data, while the Nikkei average of major stocks tumbled 2 percent. The Nikkei last week marked its ninth straight week of losses, the longest such losing streak run in 20 years.
The MSCI's broadest index of Asia-Pacific shares outside Japan fell by as much as 2.5 percent to 2012 lows, down 17 percent from this year's peak, continuing a rout of global stocks sparked on Friday by weak U.S. jobs data.
European shares were likely to extend their losses, having wiped out all their 2012 gains on Friday. Spreadbetters tipped major European markets to fall by as much as 1.8 percent when trading resumes on Monday.
And U.S. stock futures also pointed to more selling when investors wake up in North America, with S&P 500 futures down 0.7 percent in Asian trade.
"Investors are just fleeing risk assets," said ATI Asset Management chief investment officer Simon Burge.
"Bond yields are at an all-time low. Even in the global financial crisis we didn't see bond yields at the levels that they have reached now ... This is a flight from risk assets that is unprecedented," Burge said.
The benchmark 10-year Japanese government bond yield fell below 0.80 percent to its lowest since July 2003. Ten-year JGB futures prices jumped to a 19-month high.
U.S. and German government bond yields had both hit record lows on Friday, with 10-year German yields dipping to 1.127 percent and 10-year Treasury yields touching a historic low of 1.442 percent.
"The jobs number from the U.S. was shocking and Spain is now becoming a big worry. On top of that everyone who thought Q1 would be the bottom for the Chinese economy has realized that this is a real slowdown that could go on," said Larry Jiang, Hong Kong-based chief investment strategist at Guotai Junan Securities.
The CBOE Volatility index, which measures expected volatility in the Standard & Poor's 500 index over the next 30 days, jumped nearly 11 percent to its highest since mid-December on Friday, reflecting mounting risk aversion.
POLICY RESPONSES EYED
Analysts said the flight to bonds would continue until clarity emerged on issues such as the outcome of Greek elections due on June 17 and the recapitalisation of European banks, now in the shadow of a Spanish banking crisis.
"It's not an issue of risk-on or risk-off anymore, it's nervousness all over until a clear direction emerges on a long-term trend," said Hisamitsu Hara, chief foreign exchange manager at Bank of Tokyo-Mitsubishi UFJ.
U.S. jobs growth braked sharply for a third straight month in May and the jobless rate rose for the first time in nearly a year, with 69,000 jobs added to payrolls last month, the least since May last year.
The weak data followed poor Chinese manufacturing and dismal European data on factory activity, rattling markets that had already been on edge over the deepening euro-zone crisis. The numbers fuelled speculation that the U.S. Federal Reserve would have to launch further monetary stimulus to shore up growth.
A Reuters poll of 15 primary dealers, which do business directly with the Fed, showed a 50 percent chance of a third round of quantitative easing.
The yen was off its Friday highs against the dollar and the euro. It stood at 78.13 yen to the U.S. dollar, off a 3-1/2 month high of 77.65 yen hit on Friday. It traded at 96.94 against the euro, having reached around 95.59 yen on Friday, its strongest level since December 2000.
The euro was at $1.2408, recovering from Friday's trough of $1.2288, its lowest in nearly two years. The Australian dollar, which is closely linked to risk appetite, staged only a meek recovery from eight-month lows hit on Friday.
"If the European situation worsens, then the global interest rate and policy solutions would require coordinated actions by the Bank of Japan and the Federal Reserve to assure access to U.S. dollar money markets, otherwise risk a contraction in global trade," said Richard Hastings, macro and consumer strategist at Global Hunter Securities.
COMMODITIES SLIDE
Analysts are eagerly awaiting the European Central Bank's policy decision on Wednesday and U.S. Fed Chairman Ben Bernanke's congressional testimony on Thursday, looking for clues on their responses to vulnerable global growth.
Spot gold edged 0.2 percent lower to $1,622.81 an ounce on Monday, largely holding its ground after recording its biggest one-day rally in more than three years on Friday.
U.S. crude futures fell 1.9 percent to $81.65 a barrel to its lowest in almost eight months, and Brent dropped 1.7 percent to $96.79, a 16-month low.
Worries about slowing global growth also pushed Shanghai copper down more than 3 percent to a new 2012 low of around 52,450 yuan a tonne.
Heightened risk aversion pushed up the cost of insuring against corporate and sovereign defaults in Asia, with the spread on the iTraxx Asia ex-Japan investment-grade index widening by 13 basis points.
(Additional reporting by Victoria Thieberger in Melbourne and Vikram Subhedar in Hong Kong; Editing by Mark Bendeich)
If the money was set aside as a "defense fund" then that is apparently what he was going to use it for. Not "bail fund". Also, he has proven time and time again he is not a flight risk by showing up every time the court asks him to.
- Taofledermaus, Slo-Mo on Youtube, 04/6/2012 02:18
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