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MEMPHIS, Tenn. — A Shelby County multi-millionaire charged with three counts of rape is being held on $3 million bond.

Judge John Campbell made the decision after three days of deliberation.

The state argued Mark Giannini is a serious flight risk after he took off to Florida the last time he was charged.

Steve Farese is Gianni’s attorney.

He said, “The court decides what is fair, but from a defense perspective, this is egregious and excessive.”

Giannini is said to be worth more than $3 million. He owns an estate in Eads and more than 20 properties across the county, but his lawyer argues he can’t afford this bond.

“There’s a difference between what you’re worth and what your liquidity is,” Farese said.

He argued his client has ties to the community, including his elderly father, giving him plenty of reason to stay. But the state said he’s proven he’s a flight risk.

Giannini’s attorney referred to one of the victim’s as a porn star and suggested she’s after Giannini’s money. He also said the former employee who testified against him earlier in the week is a prostitute.

The state kept insisting he’s a flight risk and pointed to the searches on Giannini’s computer for a second passport, and the fact that he ran away to Florida. But the judge said that wasn’t illegal because his first bond didn’t limit his travel. This one does. The court even pulled Giannini’s passport.

No word on when his trial is set to start.