Funderburg Remains in Jail Despite Bail Reduction
By: Import User
Updated: January 7, 2009
Ricky Funderburg, a former Monticello car dealer who allegedly defrauded more than 100 motorists and several creditors, remained in jail Monday, even though a judge reduced his bond.
Judge Sam Pope slashed Funderburgs bond from $500,000 to $300,000. Defense Attorney John Ogles requested bond be set at $50,000.
Pope cited testimony from Funderburgs wife, Mary as the reason for his decision. Under oath in a pre-trial hearing, she told the court that she didnt know her husbands whereabouts for seven days prior to an arrest warrant being issued on April 6. Funderburg turned himself in to authorities on April 8.
Funderburg is charged with multiple counts of theft and fraud in connection with his former business. Prosecutors allege he never paid wholesalers for cars he purchased and defaulted on agreements with creditors. He could face hundreds of years in prison if convicted.
