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John Kinnucan in a Multnomah County, Oregon booking photo. REUTERS Handout

Kinnucan ordered to be transported to New York

2/29/2012 COMMENTS (0)

NEW YORK, Feb 28 (Reuters) - A research consultant charged earlier this month for his role in an alleged insider trading scheme was ordered to be transported by the government from Portland, Oregon to New York for a March 5 hearing.

The consultant, John Kinnucan, was granted bail last week but has not yet satisfied the conditions of his release, according to an order issued on Tuesday by U.S. District Judge Deborah Batts in New York.

Last week, Batts ordered Kinnucan to remain in jail in his hometown of Portland until he met certain bail conditions, which included a $5 million bond, the surrender of all travel documents, and restrictions on his use of the telephone, Internet and other modes of communication.

In her order on Tuesday, Batts did not specify which conditions Kinnucan failed to meet. Kinnucan's lawyer, Thomas Hester, did not return a call seeking comment.

During the bail hearing last week, Hester said Kinnucan's house was in foreclosure proceedings and that he, his wife and two children were dependent on financial assistance from relatives.

Batts ordered Kinnucan to be transported to New York by the U.S. Marshals Service.

Kinnucan has been charged with illegally tipping hedge funds to inside company information as head of Broadband Research LLC.

The case is USA v Kinnucan in U.S. District Court for the Southern District of New York No. 12-00163

For the USA: Avi Weitzman and Katherine Goldstein of the U.S. Attorney's Office

For Kinnucan: Thomas J. Hester of the Office of the Federal Public Defender

(Reporting by Andrew Longstreth and Grant McCool)

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