Bill Cosby Arraigned on Sexual Assault Charge from 2004; Judge Sets Bail at $1 Million

Attorneys for Bill Cosby issued a statement following Wednesday's arraignment. Per NBC, it reads: "The charge by the Montgomery County District Attorney's office came as no surprise, filed 12 years after the alleged incident and coming on the heels of a hotly contested election for this county's DA during which this case was made the focal point.  Make no mistake, we intend to mount a vigorous defense against this unjustified charge and we expect that Mr. Cosby will be exonerated by a court of law."

Bill Cosby was arraigned Wednesday afternoon in Pennsylvania's Montgomery County District Court on sexual assault charges stemming from 2004.

Judge Elizabeth McHugh read the charges against the 78-year-old and, per CNBC, set his bail at $1 million. Per CNN, Cosby handed over his passport and did not enter a plea. He will remain free on bail pending trial. A preliminary hearing was set for Jan. 14 at 9:30 a.m. If convicted on the felony second degree charge of aggravated indecent assault, Cosby faces five to 10 years behind bars and a $25,000 fine.

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