By Mary O’KEEFE

UPDATE May 9, 2:40 p.m. Former Glendale City Councilman John Drayman has made bail and is expected to be released from custody after spending the night in L.A. County Jail.

An extensive investigation over the last 24 hours has culminated in the release of Drayman on $200,000 bail. The funds came from community members in support of him.

Drayman is expected to next appear in court on June 28.

UPDATE: Drayman pleaded not guilty and was remanded into custody for 24 hours while forensic detectives verify the funds that were posted for his bail.

Drayman will appear again in court Tuesday morning.

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Former Glendale City Councilman John Drayman appeared before Judge Patricia Schnegg in Los Angeles Superior court today. He faced 28 counts including embezzlement, filing false tax returns and money laundering.

Drayman was somber during the proceedings where he was accused of allegedly embezzling at least $304,000 from the weekly Sunday Montrose Harvest Market sponsored by the Montrose Shopping Park Assn. from 2004 through 2011.

The district attorney requested bail be set at $304,000 but Drayman’s attorney Michael Kraut argued for a reduction stating that Drayman was not a flight risk nor a danger to the community. The DA countered that she was concerned that Drayman had given investigators false information and that he had started a competing market on Saturdays. Her concern is that he does pose a danger to anyone who invests in this market.

Kraut said that “the other market is not [Drayman’s] but is sponsored by a non-profit organization and run by his life partner.”

Drayman initially helped organize the new Saturday market but  it is structured under a non-profit.

Judge Schnegg reduced the bail to $200,000 adding that Drayman is “not to have any dealings with the new … market.”

Over 20 supporters of the former councilman including a representative from the Adams Hill area were at the courthouse. These community members are working together to raise the $200,000 bail.

If convicted, Drayman could serve up to 10 years in state prison.

CV Weekly will continue to provide updates on this story.