James McConville was indicted for mail and wire fraud after an I-Team investigation. Prosecutors say he made more than $11 million and ruined the credit of dozens of Bay Area investors.
On Tuesday morning, McConville asked the court to release him on bond, but the judge put off making a decision until next week. Former investors who lost their life savings say McConville should stay behind bars until the trial.
"I can't believe that, that they might let him out on bail. It doesn't make any sense. This guy's just going to come out and burn more people," former investor Greg Righetti said.
McConville also appointed a new attorney to represent him. One of his former attorneys told the I-Team that McConville still owes his firm tens of thousands of dollars in unpaid legal bills.
