Securities fraud suspect out on $1 million bond - WAFF-TV: News, Weather and Sports for Huntsville, AL

Securities fraud suspect out on $1 million bond

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Aziz was arrested Nov. 12 by officials at the Chicago Midway International Airport during a trip to the United States. Aziz was arrested Nov. 12 by officials at the Chicago Midway International Airport during a trip to the United States.
COLBERT COUNTY, AL (WAFF) -

The CEO of National Steel Car Corporation is out of jail on a $1 million bond. Gregory Aziz faces ten counts of securities fraud in Colbert County.

According to his bond agreement, Aziz will have to wear an ankle monitor and has had his passport revoked. In addition, he has put an estimated $35-50 million worth of property up for collateral.

His attorney released a statement to the media Thursday afternoon, which you can read in full here, and which says in part:

Clearly, this is a very trying time for Mr. Aziz ad his family. We are confident that once all of the facts are provided, this matter will be resolved in a positive way.

Last week, a grand jury indicted the CEO on ten counts of securities fraud related to transactions with the Retirement Systems of Alabama, the primary lender of WAFF's parent company, Raycom Media.

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