Detention hearing for man indicted in fraud case

PORTLAND, Ore. (AP) — A federal magistrate judge in Portland says an Oregon man indicted on securities fraud charges in New York City can be released from jail, but she imposed multiple conditions on John Kinnucan (kuh-NOO’-kun).

Magistrate Judge Janice Stewart also warned the president of Broadband Research LLC that a New York judge had jurisdiction over his criminal case and might order a stay that would keep him in jail until he could fly to Manhattan for a March 8 court appearance.

The Oregonian reported (http://is.gd/xsimTD) it was unclear whether such a stay was ordered. Multnomah County sheriff’s Capt. Raimond Adgers said Kinnucan remained Wednesday evening in a Portland jail.

Federal prosecutors in Manhattan announced the indictment Tuesday. Kinnucan was arrested last week in Portland and jailed without bail after the government said he left threatening voicemail messages with prosecutors.

The defendant told the judge Wednesday that his messages were “mean-spirited” but “not threats.”

Authorities accuse him of using inducements to pump information out of public company insiders, then selling the information as if it were the product of legitimate research.