Judge sets $10M bail for Republic CEO
A judge in Chicago set bail for the former chief executive officer of Republic Windows and Doors at $10 million, 20 times the amount requested by prosecutors.
Former executive Richard Gillman faces charges of theft after allegedly moving company equipment to Iowa to set up a new windows manufacturing company after Republic went bankrupt in December.
Republic workers made national headlines by staging a peaceful sit-in at the company where 300 workers lost their jobs when the plant closed with little warning, The Chicago Tribune reported Thursday.
Prosecutor had asked for bail to be set at $500,000. Judge Peggy Chiampas said,
I want to make sure, Gillman, 56, did not flee, citing,
damage both to the individuals and the company.
Gillman’s attorney Edward Genson said the equipment allegedly stolen was worth only $300,000. After the court session, Genson called the $10 million bail,
the most blatant abuse of judicial discretion I’ve seen in 45 years.
Armando Robles, president of United Electrical, Radio and Machine Workers of America Local 1110 and a former worker at Republic, said workers felt vindicated.
He treated us like garbage for long, long years. He threw us out in December without any benefits. We were waiting for this, Robles said.
Republic Windows was bought out of bankruptcy in February by Serious Materials, a California company that hired more than a dozen of the former workers.