An Arizona judge may modify the condition of release for James Arthur Ray whose been in jail on mansalughter charges and $5 million bail for the seat lodge deaths that occurred during his high-priced "Spiritual Warrior" retreat near Sedona in October.

Three people died - Kirby Brown, 38, of Westtown, N.Y., James Shore, 40, of Milwaukee; and Liz Neuman, 49, of Prior Lake, Minn. Eighteen others were hospitalized.

Prosecutors asked that the bond be set at $1.5 million to ensure Ray's continued appearances in court. But defense attorneys argued that Ray should either be released on his own recognizance or bail be set at a couple hundred thousand dollars.

AP reports that an accounting fraud examiner who testified in the hearing of a motivational speaker seeking to reduce bail in his manslaughter case said Tuesday that James Arthur Ray's net worth was a "conservative" $2.4 million, a figure Ray's attorneys contend was overstated.

Ray has pleaded not guilty to three counts of manslaughter stemming from the deaths of three participants who attended a sweat lodge ceremony he led last year near Sedona. If convicted, he faces up to 12 1/2 years on each count, with probation being an option.

Regardless of the equity or value of the Beverly Hills home Ray purchased for $4 million and recently put up for sale, Li said a bail bondsman valued it at only $200,000.

A statement of net worth obtained by The Associated Press from the court shows Ray is severely in debt and worth negative $4.2 million. The document is now officially sealed.