Fired State Street VP accused of serial rape gets bail lowered by $700G, still hides from cameras

An accused knife-wielding serial rapist of women and girls who lost his job last week when the news of the allegations surfaced was able to avoid stepping into the courtroom again as his bail was reduced by $700,000.

Ivan Cheung, 42, hid outside of the courtroom Thursday morning — in a holding area that at one point was the source of loud banging and the voice of a woman screaming “Get the (expletive) out of here!” in one disruptive incident during the hearing — as his attorney, Peter Parker, argued that his previously set $1 million bail should be reduced to only $100,000.

“I would note that he’s been working as a vice president at State Street Bank for 15 years,” Judge Steven Key said when he was setting bail amounts. “I think there’s more money available to him than what has been presented to the court.”

Cheung’s hearings have been in Boston Municipal Court, right across New Chardon Street from the ongoing construction of a skyscraper emblazoned with the name State Street Bank. He began his career at the company while in college more than 18 years ago. He was fired from the firm on Sept 13, the day of his arraignment in the four rape cases.

Cheung is accused of raping, at knifepoint, two women and two girls in Boston and the greater area in incidents dating back to July 2003.

In that first event, he’s accused of picking up a 13-year-old runaway working as a sex worker in Chinatown where he first had non-forceful sex with her for money in his blue house in North Quincy before then holding a knife to her throat and forcibly raping her in his car.

The other alleged crimes, the next of which he is accused of raping a 14-year-old girl that September, follow similar patterns, but without the detail of non-forced sex beforehand. The two girls, and then two women in 2005 and 2006, were held at knifepoint, prosecutors allege, and raped in Cheung’s silver Lexus RX300 luxury SUV.

Prosecutor Ian Polumbaum gave Judge Key, who was not the judge at Cheung’s arraignment last week, a rundown on the case against Cheung. The two adult cases were cause for some concern, which Polumbaum admitted, as both incidents fall outside the 15-year statute of limitations for prosecution.

Polumbaum said that in Cheung’s own admission, he had traveled extensively outside the state and country in the intervening years, which may work to subtract some time and put one or both cases back within the statute of limitations for prosecution — or, “worst case scenario,” even if they aren’t chargeable, the DNA evidence collected in them and then their similarities to the other cases could bolster prosecution for the child rape cases.

Parker had his reservations as to whether the prosecutors could pull off getting the adult rape charges within the statute of limitations. He said that the “sparse case law seems to say is that someone needs to have lived somewhere else,” and that just traveling for business or pleasure while maintaining a residence the full time in Massachusetts would not count against the statute of limitations timeline.

Key set bail at only $25,000 for each of the rape cases with adult alleged victims, citing the statute of limitations challenges; $50,000 for one of the child rape cases; and then $200,000 for the other.

Parker said that Cheung’s family was prepared to post the $100,000 bail he requested, but would have to work to come up with the $300,000. Parker said Cheung had deep ties to Boston and that he would not flee and forfeit that kind of money his family needed to get by while he was without work.

This is a developing story.

(092222 Boston, MA): Ivan Chueng hid behind a door during his bail hearing in Boston Municipal Court on Thursday,September 22, 2022 in Boston, MA. (Staff Photo By Nancy Lane/MediaNews Group/Boston Herald)