The Latest: Turkish businessman disappointed by bail ruling

NEW YORK – The Latest on a Turkish businessman accused of helping Iran evade U.S. sanctions (all times local):

6:20 p.m.

Defence lawyers say a wealthy Turkish businessman is “deeply disappointed” a judge ruled he has to remain behind bars while he awaits trial in New York on charges he helped Iran evade U.S. sanctions.

Lawyers for businessman Reza Zarrab (ZAY’-rahb) say they’ll consider an appeal of the Thursday ruling. They say he’s innocent and they’re “intent on continuing to vigorously defend” him.

Prosecutors had argued Zarrab’s wealth and overseas connections make him a flight risk.

His lawyers countered by proposing a $50 million bail package making him pay for private security. They said he’d sign a waiver saying guards could shoot him if he tried to escape.

The judge called the proposal “unreasonable” because it raised too many liability issues. He also said it would foster unequal treatment for rich people.

___

3:40 p.m.

A federal judge says a wealthy Turkish businessman will have to remain behind bars while he awaits trial in New York on charges he helped Iran evade U.S. sanctions.

The judge’s decision Thursday rejected a bid by Reza Zarrab (ZAY’-rahb) to instead be confined to a Manhattan apartment.

Prosecutors had argued Zarrab’s wealth and overseas connections make him a flight risk.

His lawyers countered by proposing a $50 million bail package making him pay for private security. They said he’d sign a waiver saying guards could shoot him if he tried to escape.

The judge called the proposal “unreasonable” because it raised too many liability issues. He also said it would foster unequal treatment for rich people.

Zarrab’s attorneys haven’t responded to a message seeking comment on the ruling.