ORANGE COUNTY IN BANKRUPTCY : Raabe Released From Jail After Family and Friends Post His Bond

Former Orange County Assistant Treasurer Matthew Raabe was released from jail after posting bond about 12:45 a.m. Thursday, two days after he was indicted on felony charges for his alleged role in the county’s bankruptcy.

Raabe, who was held in lieu of $200,000 bail, was fired from his $77,000-a-year job in March, and on Wednesday was declared too poor to pay for his own attorney. He had to rely on family and friends to help bail him out of the Orange County Men’s Jail in Santa Ana, where Raabe spent Tuesday night, officials said.

Raabe and former Treasurer-Tax Collector Robert L. Citron were each charged with six felony counts, including misappropriating public funds and deceiving unsuspecting school districts, cities and public agencies into sinking money in the county’s failing investment pool. The pool’s collapse led the county to file bankruptcy Dec. 6.

Citron has pleaded guilty to the charges. Raabe, however, has said he intends to plead not guilty at his June 13 arraignment and plans to fight the charges.