New York Criminal Defense Lawyer Blog

Oscar Sanchez –of Brooklyn - is a former branch manager for the Bank of America. He allegedly assisted the “Khan Ring” with opening fraudulent bank accounts and lines of credit at the Bank of America in exchange for an estimated one hundred thousand dollars. The scheme allegedly cost the Bank of America approximately two million dollars. On August 15, 2007, a federal indictment was unsealed charging Oscar Sanchez -amongest others- with conspiracy to commit identification document fraud, production of false documents, use of false ID documents to commit other crimes, aggravated ID theft , conspiracy to commit access device fraud, access device fraud, conspiracy to commit bank fraud and bank fraud. On November 13, 2008, Sanchez pleaded guilty in federal court in Manhattan to one count of bank fraud. On March 25, 2009, Sanchez was sentenced in federal court in Manhattan to sixty-three months in federal prison. Bank Fraud carries a maximum sentence of thirty years in federal prison.

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Bernard L. Madoff appealed the judgment of the United States District Court for the Southern District of New York denying him bail pending sentencing pursuant to 18 U.S.C §§ 3143(a) and 3145(c). The U.S. Attorney’s Office filed a forty-one page affirmation in opposition to Madoff’s motion for a stay and reinstatement of bail pending sentencing. The United States Court of Appeals for the Second Circuit yesterday issued a three page decision denying Madoff’s motion having found that the district court did not clearly err in its assessment that Madoff had failed to show by clear and convincing evidence that he was a flight risk.

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The United States Department of Justice has announced that New York CPA David L. Friehling - who was the accountant for Bernard L. Madoff Investment Securities, LLC - turned himself in today to federal authorities. Friehling is charged with securities fraud, aiding and abetting investment advisor fraud and four counts of filing false audit reports with the United States Securities and Exchange Commission. Friehling –who was the accountant of the company for the last seventeen years- allegedly falsely certified that he had prepared and audited various financial statements in accordance good accounting standards and principles. The subject financial documents allegedly include balance sheets, statements of income, statements of cash flows and reports on internal control. The subject documents are alleged to have been filed with the SEC and sent to clients of Bernard L. Madoff Securities Investment, LLC. Friehling is scheduled to be arraigned later today in Manhattan federal court. Friehling- who is age 49- faces up to 105 years in a federal prison if convicted. The charges are merely accusation and Friehling is presumed innocent unless and until proven guilty in a court of law.

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On September 29, 2005, Samuel Israel, III pleaded guilty to charges that he and Daniel E. Marino defrauded investors in the collapsed Bayou group hedge fund of more than $450 million. On April 14, 2008 Israel was sentenced to 20 years in federal prison. On June 9, 2008, Israel was scheduled to surrender himself to the Federal Medical Center in Devens, Massachusetts to start serving his 20 year sentence. However, Israel failed to show up at the Federal Medical Center and was a fugitive until surrendering himself to police in Massachusetts on July 2, 2008. On March 16, 2009, Israel pleaded guilty to a single count information charging him with failing to surrender in violation of 28 U.S.C. 3146. Israel is scheduled to be sentenced June 24, 2009 and could be sentenced up to an additional10 years in federal prison.

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Bernard L. Madoff pled guilty to the entire eleven count information today in Manhattan federal court . Judge Chin-after advisng Madoff of his rights- advised him of the nature of each of the eleven counts contained in the information. The prosecutor then stated the elements of each count in the eleven count information. Judge Chin then advised Madoff of the maximum sentence for each count. Madoff then read a statement that basically outlined how he ran the Ponzi Scheme. The Goverment then summarized what they believed the proof would have shown at trial. Madoff pled guilty to each of the eleven counts of the information. Judge Chin then accepted Madoff’s plea of guilty to each count over the objections of several victims who were allowed to voice their opinions at the plea allocution. Judge Chin then announced that Madoff would be sentenced on June 16, 2009 at 1:30 PM to allow time for the completion of a pre-sentence investigation. The prosecutor requested Madoff be remanded pending sentencing. Judge Chin- over the argument of Madoff’s attorney - remanded Madoff pending sentencing. Madoff’s legal counsel will likely appeal Judge Chin’s decision to remand Madoff pending sentencing. Madoff -who is 70 years old- faces a prison sentence of up to 150 years.

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Bernard L. Madoff appeared in Manhattan federal court today where he waived his attorney's conflict of interests and waived his right to have his case presented to a federal grand jury and consented to be charged in an eleven count felony information.

The first count of the information is securities fraud, which is punishable by up to 20 years in prison, 3 years of post release supervision, a fine equal to the greater of either five million dollars or twice the gross gain or loss from the crime and restitution.

The second count of the information is investment advisor fraud, which is punishable by up to 5 years in prison, 3 years of post release supervision, a fine equal to the greater of either two hundred fifty thousand dollars or twice the gross gain or loss from the crime and restitution.

The third count of the information is mail fraud, which is punishable by up to 20 years in prison, 3 years of post release supervision, a fine equal to the greater of either two hundred fifty thousand dollars or twice the gross gain or loss from the crime and restitution.

The fourth count of the information is wire fraud, which is punishable by up to 20 years in prison, 3 years of post release supervision, a fine equal to the greater of either two hundred fifty thousand dollars or twice the gross gain or loss from the crime and restitution.

The fifth count of the information is international money laundering to conceal and disguise proceeds of specified unlawful activity, which is punishable by up to 20 years in prison, 3 years of post release supervision, a fine equal to the greater of either five hundred thousand dollars or twice the gross gain or loss from the crime and restitution.

Continue reading " Bernard L. Madoff Charged with Eleven Felonies In Connection with Alleged Ponzi Scheme " »

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The United States Department of Justice for the Southern District of New York announced today that Harrison Brown a/k/a “H”, Allahvell Cutts, a/k/a “Vell”, Malik Saunders, a/k/a “Man”, and Rasheem Lee, a/k/a “Godson”, were arrested on charges of distributing and selling cocaine and crack cocaine in the Bronx. All of the sales are alleged to have been to an uncover officer. Each of the four defendants in custody face a possible maximum sentence of life in prison if convicted of the top count. Henry Franklin a/k/a “BT,” John Sutton, a/k/a “J-Black,” Raheam Steed, a/k/a “Heeni”, Caleb Hooker, aka “Kahleaf,” and Wajeeh Baker were also charged in the same seventeen count sealed indictment but have not been arrested. Each of the five at large defendants also face a possible maximum sentence of life in prison if convicted of the top count except Hooker who faces a maximum sentence of 40 years in prison. The seventeen count indictment is alleged to have been the culmination of a two year investigation involving the NYPD, ATF , DEA, New State Division of Parole and United States Marshall Services. The four defendants in custody were expected to be arraigned today in Federal Court in Manhattan. The drug trafficking charges contained in the seventeen count indictment are merely accusations and all nine defendants are presumed innocent unless and until proven guilty.

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