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Biden Nominates Longtime Lawyer To Serve As US Attorney for the Southern District of NY Biden Nominates Longtime Lawyer To Serve As US Attorney for the Southern District of NY
Biden Nominates Longtime Lawyer To Serve As US Attorney for the Southern District of NY President Joe Biden has nominated Damian Williams to serve as the US Attorney for the Southern District of New York, one of the most high-profile federal positions. Williams, age 40, has been an Assistant United States Attorney for the United States Attorney’s Office for the Southern District of New York since 2012, serving as its Chief of the Securities and Commodities Fraud Task Force. The Southern District includes Manhattan, the Bronx, Westchester County, and other northern suburbs. If approved, Williams would be the first African American to serve as the leader of the Manhattan prose…

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by Zak Failla
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New Distribution Of More Than $378M Allotted To Madoff Ponzi Scheme Victims New Distribution Of More Than $378M Allotted To Madoff Ponzi Scheme Victims
New Distribution Of More Than $378M Allotted To Madoff Ponzi Scheme Victims Thousands of Bernie Madoff’s Ponzi Scheme victims will be receiving their portions of the fifth distribution of more than $378 million this week. U.S. Attorney Geoffrey Berman announced that the Madoff Victim Fund will be distributing $378.5 million to more than 26,000 of his victims involved in the fraud scheme. To date, approximately $2.7 billion has been distributed to Madoff’s victims. Berman said that the fifth payment will bring the victims’ total recovery to 73.65 percent of their losses.  Ultimately, more than $4 billion will be returned due to losses suffered in Madoff’s Ponz…

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by Zak Failla
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Woman Who Managed Insurance Brokerage Sentenced For Defrauding 1,100 Customers Of $415K Woman Who Managed Insurance Brokerage Sentenced For Defrauding 1,100 Customers Of $415K
Woman Who Managed Insurance Brokerage Sentenced For Defrauding 1,100 Customers Of $415K The former manager of an area insurance brokerage will spend years behind bars for defrauding more than 1,100 customers. Flushing resident Nancy Credidio, the former manager of a car insurance brokerage, was sentenced to 33 months in prison for defrauding more than 1,100 victims customers out of more than $415,000. Specifically, Credidio pleaded guilty to conspiracy to commit wire and mail fraud. According to U.S. Attorney Geoffrey Berman, “in order to legally drive a car in New York State, the car must be covered by an insurance policy.  From 2010 through 2017, Credidio was a manage…

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by Zak Failla
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Ex-Investment Bank Director From Long Island Sentenced For Insider Trading Scheme Ex-Investment Bank Director From Long Island Sentenced For Insider Trading Scheme
Ex-Investment Bank Director From Long Island Sentenced For Insider Trading Scheme A former Wall Street investment banker from Long Island has been sentenced after being convicted of insider trading for a second time after illegally tipping his father off to healthcare industry mergers. North Merrick resident Sean Stewart, 38, a former senior investment banker at two New York-based investment banks was sentenced to 24 months in prison following his conviction after a seven-day trial for illegally providing tips to his father, Robert Stewart, with non-public information. In addition to his prison term, Stewart was sentenced to three years of supervised release. He's due to…

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by Zak Failla
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Accused Queens Drug Dealer Charged In Fentanyl Overdose Death Accused Queens Drug Dealer Charged In Fentanyl Overdose Death
Accused Queens Drug Dealer Charged In Fentanyl Overdose Death A drug distributer from Queens is facing charges for allegedly selling the fentanyl that led to the fatal drug overdose of a 29-year-old woman. A grand jury has returned an indictment charging Jeanluc Joiles, 36, and Jaime Rosario, Jr., with participating in a conspiracy to traffic methamphetamine, fentanyl, and cocaine, and Rosario is charged with possessing firearms in connection with a drug trafficking offense. U.S. Attorney Geoffrey Berman said that on June 20, Rachel Spiteri was found dead in her Manhattan apartment. The investigation into her overdose by the NYPD and DEA determined …

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by Zak Failla
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Ex-CEO From Dix Hills Admits To Defrauding Victims In Sale Of Stock Ex-CEO From Dix Hills Admits To Defrauding Victims In Sale Of Stock
Ex-ceo From Dix Hills Admits To Defrauding Victims In Sale Of Stock A former CEO from Long Island admitted to his role in a scheme to defraud the elderly victims in the sale of worthless stock. Dix Hills resident Keith Orlean - also known as “Jack Allen” - pleaded guilty in district court to participating in a scheme to target elderly persons to solicit purchases of stock in a series of valueless companies through a variety of lies and misrepresentations. U.S. Attorney Geoffrey Berman said that for several years, Orlean and his co-conspirators operated a fraudulent scheme in which a salesman named “Mike Palmer” would call elderly people and offer them a “ti…

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by Zak Failla
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Ex-Investment Banker From Long Island Convicted For Insider Trading Scheme Ex-Investment Banker From Long Island Convicted For Insider Trading Scheme
Ex-Investment Banker From Long Island Convicted For Insider Trading Scheme A former Wall Street investment banker from Long Island has been convicted of insider trading for a second time after illegally tipping his father off to healthcare industry mergers. North Merrick resident Sean Stewart, 38, a former senior investment banker at two New York-based investment banks was convicted following a seven-day trial for illegally providing tips to his father, Robert Stewart, with non-public information. Stewart was found guilty of providing his father with non-public information concerning five separate corporate acquisitions before they were announced, U.S. Attorney Ge…

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by Zak Failla
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Man Sentenced For Account Takeover, Money Laundering Scheme Affecting Tens Of Thousands Man Sentenced For Account Takeover, Money Laundering Scheme Affecting Tens Of Thousands
Man Sentenced For Account Takeover, Money Laundering Scheme Affecting Tens Of Thousands A Brooklyn man will spend nearly five years in prison for stealing identities, defrauding banks and e-commerce retailers out of more than a million dollars, impacting tens of thousands of victims over a decade. Jason Mickel Elcock - also known as Prezzi - was sentenced in Manhattan federal court was sentenced to 57 months in prison or engaging in a decade-long scheme to steal personal and financial information from tens of thousands of individuals and businesses and unlawful possession of a firearm, resulting in a loss of more than $1.1 million to banks and online retailers Elcock pleaded g…

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by Zak Failla
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Madoff Ponzi Scheme Victims To Get New $469M Distribution, Bringing Payout To $2.4B Madoff Ponzi Scheme Victims To Get New $469M Distribution, Bringing Payout To $2.4B
Madoff Ponzi Scheme Victims To Get New $469M Distribution, Bringing Payout To $2.4B Thousands of Bernie Madoff’s Ponzi Scheme victims will see some more relief as the Department of Justice begins the latest distribution of more than $469 million. This week, the Madoff Victim Fund, which was established by the DOJ, began distributing $469.6 million in additional funds that were forfeited to the government in connection to Madoff's scheme. The money will be distributed to more than 27,000 victims, bringing the total to approximately $2.4 billion. The latest distribution marks the fourth in a series of payments from the Madoff Victim Fund as part of Madoff’s fraud, which tot…

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by Zak Failla
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Pair Sentenced For Kidnapping, Killing Area Man Who Was Federal Cooperating Witness Pair Sentenced For Kidnapping, Killing Area Man Who Was Federal Cooperating Witness
Pair Sentenced For Kidnapping, Killing Area Man Who Was Federal Cooperating Witness Two men will spend the rest of their lives in prison after being convicted of kidnapping and murdering a federal cooperating witness from the area in a violent armed robbery more than two years ago. Bronx residents Robert Pizarro and Juan Rivera were convicted in September last year of murdering a witness from Rockland to prevent him from reporting to law enforcement, kidnapping conspiracy, kidnapping resulting in death, robbery conspiracy, robbery, and weapons offenses, arising out of the murder of federal cooperating witness and Garnerville resident Robert Bishun on Sept. 20, 2016. On Tue…

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by Zak Failla