after being charged with three counts of manslaughter, ray’s bail was set at $5 million, and for the last three weeks, his lawyers have been petitioning the court to have it reduced.despite charging participants about $10,000 each to attend his self-help events, ray’s lawyers claimed he couldn’t afford such a pricey bond.the accountant, richard echols, while testifying on behalf of the prosecution, claimed that ray was not broke but worth about $2.4 million — and that’s a conservative estimate, the associated press reports.after the sedona sweat lodge tragedy, echols says, ray moved money around from several bank accounts, including $1 million in lawyer fees that weren’t included the $2.4 million estimate.there were other assets that echols says couldn’t be accounted for, and the values of ray’s cars and office furnishings may increase the estimate.
“that mansion, which ray put up for sale after the sweat-lodge incident, was purchased by ray for about $4 million in 2008. unfortunately for ray, a bail bondsman recently estimated the house is now worth $200,000, ray’s attorney tells the ap (though we find it hard to believe that the value of the house could drop by $3.8 million in less than two years).ray’s digs for the last three weeks have been far less glamorous than a house in beverly hills, regardless of its worth.
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