$10 million bail for Republic Windows CEO

The Chicago Tribune reports:

The former chief executive of Republic Windows and Doors, the Chicago company that abruptly shut down last year without paying severance and vacation pay to employees, has been charged as part of a major financial crimes investigation.

Richard Gillman, 56, was arrested Wednesday, police said. He's accused of looting Republic Windows by moving expensive equipment from the Chicago plant so he could set up shop at a business in Iowa, police said.

At a hearing at the Criminal Courts Building, Judge Peggy Chiampas set bail at $10 million for Gillman.

Gillman appeared stunned as Chiampas set bail 20 times higher than the $500,000 requested by prosecutors.

You'll want to read this one.