Welcome to Inner City Press’ Bank Beat. We aim to scrutinize the industry, from high to low. Our other Reporters cover Community Reinvestment, the Federal Reserve, and other beats. ICP has published a (double) book about the Bank Beat-relevant topic of predatory lending - click here for sample chapters, an interactive map, and ordering information. The Washington Post of March 15, 2004, calls Predatory Bender: America in the Aughts "the first novel about predatory lending;" the London Times of April 15, 2004, "A Novel Approach," said it "has a cast of colorful characters." See also, "City Lit: Roman a Klepto [Review of 'Predatory Bender']," by Matt Pacenza, City Limits, Sept.-Oct. 2004. The Pittsburgh City Paper says the 100-page afterword makes the "indispensable point that predatory lending is now being aggressively exported to the rest of the globe." Click here for that review; click here to Search This Site. Click here for Inner City Press' weekday news reports, from the United Nations and elsewhere, which include bank-related topics.
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February
10, 2025
In Charlie Javice Feb 18 Trial For Fooling JPMC Jury Not Required to Distinguish Capital One
by
Matthew Russell Lee, Patreon Book
Substack
SDNY
COURTHOUSE, Feb 4– JPMorgan Chase
bought a start-up called
Frank, which claimed to have 4
million students signed up to
file their FAFSA forms, for
$175 million. Then Chase
learned Frank had only 300,000
customers.
On April 4, 2023,
Frank founder Ms. Charlie
Javice was brought before U.S.
District Court for the
Southern District of New York
Magistrate Judge Barbara C.
Moses and was
freed on $2 million bond.
On
January 24, 2025
Inner City Press
published the
first book on the
case, Fintech
Fraudster? here
Inner
City Press
live tweeted
the more than
two hour hearing
on January 23,
here.
Trial was
delayed one
week to
February 18;
the motion to
sever
was denied.
The basis for
the delay was
late
production of
Amar's Google
Drive, which
Judge Alvin Hellerstein
criticized.
On
January 27
Javice argued
for inclusion of
her two expert
witnesses, Ms.
Carla Holtze
Ceel on
digital analytics,
and Dr.
Konstantinos
Psounis on
"the role of
synthetic
data."
On
January 28
Javice and
Amar filed a
motion to compel JPM
Chase to
disclose the names of
145 employee
they claimed
did not use
messaging
applications
for work.
On
January 31,
Chase's
lawyers at
Davis Polk
opposed giving
any names, arguing
that the
request for
names was "for
the sole
purpose of
impeaching
prospective
Government
witnesses."
On
February 4 the
defendants reduced
their request
to eight
staffers. Full thread
here,
including
Judge
Hellerstein:
Who was the
second bank?
Amar's
lawyer:
Capital One.
But shouldn't
the jury have
to decide
whether
Capital One or
JPM Chase was
the one they
say was
defrauded?
Judge:
Motion
denied.
Figure out
who'll speak
Continued
thread
on X for
Subscriber here
and Substack here
This case
is USA v. Javice, et al., 1:23-cr-251 (Hellerstein)
***
February 3, 2025
After Flagstar NYCB Rubber Stamped Despite CRA Now Bank to Close 60 Branches
By
Matthew Russell Lee, Patreon
SOUTH
BRONX / SDNY, Jan 31 Back in April 2021, Fair
Finance Watch and Inner City Press predicted
that the proposed merger of New York Community
Bank and Flagstar would flounder, on disparate
lending and regulatory evasions.
Fair Finance Watch found that in 2019 Flagstar
made 60,982 mortgage loans to whites, with
13,963 denial to whites - while making only 3799
loans to African Americans with fully 1777
denials to African American. This was
significantly worse than other lenders.
New York Community Bank's record as an enabler
of and profiteer off slumlords led Inner City
Press file a Community Reinvestment Act
challenge to its then-proposed merger with
Astoria Bank, which fell
apart.
A
year a half later, the proposed merger was still
not done and the extended deadline was
approaching, amid talk of, as we predicted, fair
lending action.
Then
at 8 am on November 7, the banks bragged
they had Fed approval. But a visit to the Fed's
website at 8:40 am did not find any press
release of approval. The Fed is getting more and
more lax. We'll have more on this.
Inner
City Press has gone back to find Flagstar's
comments on the proposed and still pending
Community Reinvestment Act regulations -
tellingly, full of resistance: "Because Flagstar
supports the goals of the CRA, the Bank submits
this comment letter to highlight concerns about
the Agencies' proposed reforms to the CRA
framework. This Proposal would undermine the
objectives of the CRA and run contrary to the
Agencies' stated effmts to ensure that the law
continues to be an effective force for
strengthening banks and the communities they
serve, which j: intludes (i) low- and
moderate-income ("LMI") individuals, families,
and neighborhoods; (ii) small businesses and
farms; and (iii) communities in need of
financial services and economic development.
Flagstar is particularly concerned about the
proposed retail lending assessment area
requirements, which would impose significant
regulatory, operational, and staffing burdens on
banks (especially when coupled with the proposed
data collection requirements); force banks to
spread limited CRA resources thin and undermine
the effectiveness of their CRA programs; and
place banks at a competitive disadvantage to
nonbanks and other lenders not subject to the
CRA. In our view, these challenges will
discourage banks from engaging in retail lending
and other CRA activities that could otherwise
benefit local communities, contrary to the
spirit of the law. Moreover, as applied to
Flagstar, the proposed retail lending assessment
requirements would be so overly burdensome and
unworkable that they would likely cause us to
question and rethink our business model. 1.
There is insufficient data to justify abandoning
longstanding interpretations of the CRA to
require the delineation of lending-based
assessment areas; Requiring the delineation of a
lending-based assessment area would go beyond
the text and purpose of the CRA." Yeah.
In
late January 2025, Flagstar CFO Lee Smith said
Flagstar is closing about 60 retail branches,
most of which it leases; about 20 private-client
retail locations; and a couple of operating
centers that are owned by the bank.
***
January 27, 2025
Book on Charlie Javice Trial For Tricking JPMC Asks Why Fintech Fraudster in Dimon Blindspot
by
Matthew Russell Lee, Patreon Book
Substack
SDNY
COURTHOUSE, Jan 24 – JPMorgan Chase
bought a start-up called
Frank, which claimed to have 4
million students signed up to
file their FAFSA forms, for
$175 million. Then Chase
learned Frank had only 300,000
customers.
On April 4, 2023,
Frank founder Ms. Charlie
Javice was brought before U.S.
District Court for the
Southern District of New York
Magistrate Judge Barbara C.
Moses and was
freed on $2 million bond. Inner City Press
was there - and has now
published the first book
about Javice, "Fintech
Fraudster?" Book and
audiobook on Amazon here
On May 18, Javice was
indicted and the case
assigned to District Judge Alvin K.
Hellerstein.
Inner
City Press
live tweeted
the more than
two hour hearing
on January 23,
here.
Trial was
delayed one
week to
February 18.
More on
X for
Subscriber here
and Substack here
This case
is USA v. Javice, et al., 1:23-cr-251 (Hellerstein)
***
January
20, 2025
BitMEX Hayes Got 6 Months at Home as Delo Back to HK Now $100 Million Fine
By
Matthew Russell Lee, Patreon
SDNY
COURTHOUSE, Jan 15 – Four executives of the
Bitcoin Mercantile Exchange or BitMEX were
criminal defendants for violations of the Bank
Secrecy Act. On February 24, with no
notice, a guilty plea - each to a single count.
Back on October 13, 2021 U.S. District Court for
the Southern District of New York Judge
John G. Koeltlt held a proceeding. Inner City
Press covered it, below.
On
May 20, 2022 after Hayes pleaded guilty, he was
sentenced - to two years probation, the first
six months of which are home confinement with
location monitoring. Inner City Press live
tweeted it here
and below.
On March 17, 2023 Hayes through counsel made a
request to Judge Koeltl - with all substance
redacted, photo here.
When
co defendant Benjamin Delo came up for
sentencing on June 15, Delo's lawyer urged no
home confinement at all, just travel back to
Hong Kong. And he got it - with thirty months
probation the administration of which is
unclear. Inner City Press live tweeted it here:
Delo's
lawyer: Even home confinement is unnecessary. He
is a British citizen, here on a tourist visa. He
cooperated with the CFTC.
Defense: Ben was living in Hong Kong. He gave
money to Oxford. [There are more than a
dozen suited persons here in the gallery]
Judge:
Didn't he know there were US persons im the
platform?
Defense:
He didn't encourage it
Delo:
This case hurts my philanthropy. AUSA: Yes
most messages we used were from Mr Hayes. But
many were to Mr Delo. He knew.
Judge
Koeltl: Guideline is 6 to 12 months. The US
chose not to go for money laundering or fraud.
The co-defenfant [Hayes], I sentenced to 6
months home confinement. But Delo has lived in
Bermuda. So I sentence Delo to 30 months
probation, no home confinement.
On
July 13, Delo's counsel filed notice that he
will submit a letter motion on or before August
1 to redact portions of the transcript.
On
July 18, Delo's counsel emailed Judge Koetlt
proposed redactions, the scope of which the
public and press cannot see, arguing in a cover
letter that the information "should be
treated with caution." If so, why did his
counsel say it in open court seeking a time
served sentence?
Then
this: "MEMO ENDORSEMENT as to Benjamin Delo (2)
granting [376] MOTION to Redact [367]
Transcript. ENDORSEMENT: APPLICATION GRANTED. SO
ORDERED. (Signed by Judge John G. Koeltl on
7/19/2022)." Of course, it doesn't change what
was said in open court.
Later
in July co-defendant Reed was sentenced to 18
months probation, and travel anywhere: "JUDGMENT
IN A CRIMINAL CASE as to Samuel Reed (3). THE
DEFENDANT: pleaded guilty to count ONE OF THE
INDICTMENT. ALL OPEN COUNTS are dismissed on the
motion of the United States. PROBATION: Eighteen
(18) months on Count One. --The Court will not
impose the Special conditions suggested by the
Probation Department at Pages 45 and 46 of the
Presentence Report. --The defendant will be
permitted domestic and international travel, and
will be permitted to have contact with Messrs
Hayes and Delo. -No fine is imposed, because the
fine has already been paid. ASSESSMENT: $100.00.
Special instructions regarding the payment of
criminal monetary penalties: --The special
assessment shall be due immediately. (Signed by
Judge John G. Koeltl on 7/22/2022)."
Docketed
on June 29, this: "CASH BAIL RETURNED as to
Benjamin Delo as per [357] Order, Terminate
Motions, dated 06/22/2022, from Judge John G.
Koeltl, in the amount of $2,000,000.00, No.
03046969, Check Dated 06/28/2022, payable to
SMITH VILLAZOR LLP."
On
July 5, Delo's counsel wrote to Judge Koeltl
asking that the judgment be amended to allow
Delo to speak with Hayes and Reed.
And
he got it: "MEMO ENDORSED granting [364] LETTER
MOTION Request to Amend Judgment (to reflect
that Standard Condition of Supervision Number 8
not apply to contact with Messrs, Hayes and
Reed) as to Benjamin Delo (2)... ENDORSEMENT:
APPLICATION GRANTED. SO ORDERED. (Signed by
Judge John G. Koeltl on 7/5/22)."
On
November 16, co-defendant Gregory Dwyer got
one year probation: "Minute Entry for
proceedings held before Judge John G. Koeltl:
Sentencing held on 11/16/2022 for Gregory Dwyer
(4) Count 1. Deft Dwyer pres w/atty Jenna Dabbs.
AUSA Samuel Raymond. Reporter Sadie Herbert.
Deft Dwyer sentenced to one (1) year probation;
$150,000 fine."
Jump
cut to October 7, 2024, still going, thread:
now
at US v. HDR Global Trading a/k/a BitMEX - today
was to be sentencing but US has asked for a
Fatico hearing, saying loss amount is $128
million.
Judge:
The arguments have gotten too personal in this
case. The defense says the US is pursuing this
because the sentences I imposed on the
individual defendants were too low.
Judge:
I can't impose home confinement on a
corporation.
AUSA:
The Fatico hearing would take one day.
Judge:
Hearing on Nov 6 and 7, 3500 materials by Oct
21. Adjourned
On
January 15, 2025, "HDR GLOBAL TRADING LTD.,
a/k/a BITMEX," was sentenced today to a fine of
$100 million for violating the Bank Secrecy Act
by willfully failing to establish, implement,
and maintain an adequate anti-money laundering
and know-your-customer program."
This
case is USA v. HDR Trading Global Limited,
24-cr-424 (Koeltl)
The case is overall case is US v. Hayes, et al., 20-cr-500 (Koeltl)
***
January 13, 2025
Do Kwon Trial Set for Jan 26 in 2026 as Motion on Count 9 Previewed Inner City Press to Cover
by
Matthew Russell Lee, Patreon Book Substack
SDNY COURTHOUSE,
Jan 8 – After the collapse of the crypto firm
Terraform Labs, Inner City Press covered the
SEC's trial against it and Do Kwon - except that
Kwon was in Montenegro.
Early on
January 2, 2025 Inner City Press learned and
vlogged that Kwon would be presented later in
the day before U.S. District Court for the
Southern District of New York Magistrate Judge
Robert W. Lehrburger.
District Judge
John P. Cronan had signed an order that the
superseding indictment should be unsealed and
available as of 9 am. But it was not, until
nearly noon. Inner City Press immediately put it
online here
Just after noon
Do Kwon was presented and pled not guilty, was
detained, thread
The case was
reassigned to Judge Paul A. Engelmayer to whom
the US Attorney's Office on January 6 directed a
victims' notice motion, on Patreon here
On January 8
Judge Engelmayer held a conference and set a
January 26, 2026 trial date, among many other
things. Inner City Press pressed and live
tweeted, thread
More / extra on
X for Subscribers here,
Patreon (with US case status summary) here
Watch this site
The case is USA
v. Kwon, 1:23-cr-151 (Engelmayer)
***
Your support means
a lot. As little as $5 a month helps keep us going and grants
you access to exclusive bonus material on our Patreon page. Click here
to become a patron.
January
6, 2025
Cadence Bank Faced Fair Lending DOJ Charge Inner City Press Told Fed Now Proxy Delay
By
Matthew Russell Lee, Patreon
FEDERAL
COURT / BRONX, Dec 30 -- How out of control is
the merger rubber stamping of the U.S. Federal
Reserve and other regulators, even as they are
ostensibly working to improve?
Today it's reported that Cadence Bank is looking
to settle with DOJ on lending discrimination.
But Inner City Press / Fair Finance Watch protested
Cadence to the Federal Reserve in 2018 - and the
Fed approved the merger.
Inner
City Press / Fair Finance Watch wrote: "timely
first comment on, the Applications of Cadence
Bancorporation, Houston, Texas; to acquire State
Bank Financial Corporation, Atlanta, Georgia,
and thereby indirectly acquire State Bank and
Trust Company, Macon, Georgia As an initial
matter, this is a request that the FRS
immediately send by email to Inner City Press
all non-exempt portions of the applications /
notices for which the Applicants have requested
confidential treatment.
Fair
Finance Watch has been tracking Cadence Bank: In
2017 in the Dallas, Texas MSA for convention
home purchase loans, Cadence made 99 such loans
to whites - and NONE, not a single origination,
to African Americans. In 2017 in the Houston
Texas MSA for convention home purchase loans,
Cadence made 236 such loans to whites - and only
15 to African Americans, and only 23 to Latinos.
This is not in keeping with the aggregate, which
made 37,128 such loans to whites, 3151 to
African Americans and 8215 to
Latinos.
In
2017 in the Birmingham, Alabama MSA for
convention home purchase loans, Cadence made 66
such loans to whites - and only ONE to African
Americans. Even combining in Table 4-1, it was
79 home purchase loans to whites and only THREE
to African Americans. This should
also be address in this proceeding, including at
the requested evidentiary hearing: “Cadence Bank
- Racist manager 2800 Post Oak Blvd Suite
101, Houston, TX 77056, USA Oct 14, 2017 NOT
RESOLVED I had my 2 business accounts at the
Williams tower location, I tried talking to the
manager about small business loans she always
avoided me looking at me kind of weird whenever
I done withdrawals she always asked me why I'm
taking money out after 3 months she sent me a
Leter saying she's going to be closing my
account because I take money out ones a week for
payroll and she didn't like that”
This
was covered not only in Inner City Press, here
on FOIA abuses the Fed did nothing about, but
also, for example, Barron's,
here.
And the Fed rubber stamped the merger.
Jump
cut to December 2024 when Cadence had to adjourn
its shareholders meeting, to try to "solicit
proxies from preferred shareholders in favor of
a proposal (Proposal 2) to authorize the Cadence
Bank board of directors to implement repurchases
of stock in accordance with Regulation H." Watch
this site.
***
December 30, 2024
Crypto into banking? Fintech LevelField Financial Inc.
withdrew its application seeking Federal Reserve approval to
acquire Burling Bank on Feb. 12, according to the central bank's
most recent H.2 release, but it plans to refile. The company
withdrew because it "did not yet have sufficient funds to close
the transaction," CEO Gene Grant II told S&P Global Market
Intelligence via email. But LevelField plans to refile the
application in the near future after the completion of an
acceptable funding round, he added. "LevelField continues to
believe in the strength of the proposed LevelField Bank business
model and remains optimistic about the future working together
with the strong team at Burling Bank," Grant said. The
transaction was announced in February 2023. With the bank
acquisition, LevelField aims to provide depository and lending
services directly to cryptocurrency-savvy consumers, Grant
previously said. We'll see...
December
23, 2024
Cancer Survivor from Ground Zero Sues Bank of New York Mellon for ADA Discrimination
by
Matthew Russell Lee, Patreon Book
Substack
SDNY COURTHOUSE,
Dec 16 – The Bank of New York Mellon has been
sued a former staffer who was fired, he said,
for disabilities incurred from a 9/11 related
cancer.
Seiran Salimov filed suit in the U.S. District
Court for the Southern District of New York on
December 16; Inner City Press which closely
covers the SDNY found it in the docket.
Salimov complaint recounts how, while he was a
BNY senior programmer analyst, he was diagnosed
with 9/11 related cancer.
He
asked for an accommodation but BNY questioned
it, finally firing him on June 26, 2023. He got
an EEOC Notice of Right to Sue and filed the
suit.
The
case is Salimov v. Bank of New York Mellon
Corporation, 1:24-cv-9596 (Unassigned)
***
December
16, 2024
Tornado Cash Roman Storm Trial Still April 14 2025 as His Lawyers Say May Appeal to Sup Ct
by
Matthew Russell Lee, Patreon Book
Substack
SDNY
COURTHOUSE, Dec 9 – Roman Storm is charged using
his cryptocurrency mixed Tornado Cash to help
launder money for North Korea's hackers in the
Lazarus Group.
On
September 6, 2023 he was arraigned before U.S.
District Court for the Southern District of New
York Judge Katherine Polk Failla. Inner City
Press was there - thread:
Cash
helped North Korea's hackers Lazarus
Group...There will be discovery from
GitHub
On
December 5, Judge Failla docketed the trial
schedule: "SCHEDULING ORDER as to Roman Storm,
Roman Semenov. It is hereby ORDERED that the
following trial schedule will be in effect:
Trial will be set to begin on September 23,
2024, at 9:00 a.m." Full scheduling order on
Patreon here
On
March 29, 2024, Storm through counsel submitted
motions to suppress and to compel discovery,
including into MLATs with The Netherlands, and
FinCEN and OFAC communications. Memo/motion on
Patreon here
On
July 5, a court holiday, Storm's lawyer filed an
opposed request for a delay into 2025 of the
trial: "We write on
behalf of our client Roman Storm to respectfully
request that the Court grant a continuance of
the trial date from September 23, 2024 to late
January or February 2025." Letter on Patreon here.
The
US on July 9 filed opposition - just as in the
Samouri Wallet case a letter from Senator Lummis
and Wyden that cites
theTornado Cash case, letter now on Patreon,
with Samouri story, here.
On
July 12, Judge Failla did delay the trial, but
not as far as Storm requested: "trial in this
matter is scheduled to begin on 12/2/2024 at
9:00 a.m."
On
September 26, Judge Failla denied Storm's
motions, from the thread:
SDNY
Judge Failla is about to start reading out
(long) decision on motions to compel and
dismiss. Spoiler alert: she is denying both.
Judge: The pre-trial discovery is government by
Rule 16...
Brady
did not create a Constitutional right to
discovery. Mr. Storm's request are too
speculative, saying "may," "may" and "may." He
does not connect the dots.
Judge
Failla continues: I reject the void for
vagueness argument... Courts should be cautious
when assessing vagueness arguments. Consider US
v. Howtar (sp)
Judge
Failla: Mr. Storm was arguing that that
statutory definition of financial transaction is
vague. I reject that. The court finds that the
statute gave Mr. Storm adequate notice. He
marketed Tornado Cash as a way to conceal, he
had notice is was illegal
Judge
Failla: So, the motions are denied. I think that
is all I need to do today. We have a trial date
On
October 10, a hearing Inner City Press covered,
from the thread:
oral
argument on prosecutors' motion to compel
pre-trial disclosuresJudge Katherine Failla:
When will the government be producing 3500
material? Assistant US Attorney Nathan Rehn: We
have been trying to reach a global agreement on
pre-trial disclosures. Judge: Is there a world
in which you would not disclose until after
testimony?
AUSA:
We would hope not- Judge: Mr. Rehn, we're here
because you haven't worked that out. It is
possible I could propose a schedule for 3500
production? AUSA: There is precedent that the
government cannot be ordered to go faster than
the statute Judge: I know that
Roman
Storm's lawyer: If they delay on the 3500
material, we'll want more time to make advice of
counsel disclosure. Judge: I am uncoupling those
two issues. Before ruling, I spoke with other
SDNY Judges including, about the Eisenberg
trial, with Judge Subramanian
Judge:
I have considered Judge Kaplan's ruling on
Bankman-Fried... Last minute tricks, at least
they didn't for Bankman-Fried. We'll do Daubert
hearings in November in the same week as the
final pre-trial conference. We are adjourned.
On
November 1, Inner City Press covered the
proceeding and first reported the new trial
date: April 14, 2024, here.
Then: "proceedings held before Judge Katherine
Polk Failla: Telephone Conference as to Roman
Storm held on 11/1/2024. Defendant Roman Storm
present... Trial in this matter is adjourned to
4/14/2025
On
December 9 there was a status conference; Inner
City Press went and live tweeted, thread:
All
rise! Judge Failla: How do you plead? Roman
Storm: Not guilty. Storm's lawyer: We're
requesting reconsideration. AUSA: 2d circuit,
mandamos was denied. Judge Failla: I didn't
know. Last week I was in California at Judicial
Conference, hearing budgets are bad
Defense:
We want 20 pages, then ten on reply. Judge
Failla: Our local rules are moving toward word
count, not pages. Defense: We are
considering taking the mandamos to the Supreme
Court. Judge Failla: Note this, "Judge
laughs." Defense: We know it's a long shot
Judge
Failla: I've been vindicated twice at the
Supreme Court, I hope my batting average stays
high.
The
case is US v. Storm, et al., 23-cr-430 (Failla)
***
Your support means a lot. As
little as $5 a month helps keep us going and grants you access
to exclusive bonus material on our Patreon page. Click here
to become a patron.
December
9, 2024
In Virginia Disparate TowneBank Wants Village Bank Ignoring HMDA Data and Linkbank Link
by
Matthew R.
Lee, Patreon Substack
FEDERAL COURT, Dec
4 –
In Virginia, a bank is trying to move into the
Richmond area via merger, with a disparate
lending record. Fair Finance Watch with Inner
City Press on the FOIA has filed a timely first
comment on, the Application by TowneBank to
acquire Village Bank & Trust.
But consider ChoiceOne's disparate lending
record:
In
Viginia in 2023 - in HMDA data not yet taken
into account in any CRA exam - Towne Bank based
on its marketing made 1282 mortgage loans to
whites, and only 192 loans to African Americans.
Meanwhile it denied 43 applications from African
Americans, and only 64from whites. It should be
referred to DOJ.
In
North Carolina in 2023 Towne Bank based on its
marketing made 1107 loans to whites, and only 80
loans to African Americans. Meanwhile it denied
10 applications from African Americans, and only
92 from whites.
In Maryland in 2023 Towne Bank based on its
marketing made 1172 loans to whites, and only
366 loans to African Americans. Meanwhile it
denied 30 applications from African Americans,
and only 40 from whites.
The
new Merger Guidance should be applied - that is
a test case.
TowneBank
filed a response on December 4, by Troutman
Pepper's Seth A. Winter who claims data
documenting HMDA data has nothing to do with a
merger - he should know better, since he represented
Linkbancorp which was forced
to implement a lending plan after Inner City
Press documented similar disparities. It is a
bad faith response.
Why
would regulators even consider approving this
merger? Watch this site.
***
December
2, 2024
In SBA Fraud Case Shin Got 14 Months Bid to End Supervision Denied But Travel Allowed
By
Matthew Russell Lee, Video, Alamy
photos
SDNY
COURTHOUSE, Nov 25 – Noah Bank's Edward Shin was
on arrested for defrauding the U.S. Small
Business Administration on May 29, 2019 and
would, it was said, be presented later on May 29
before Magistrate
Judge James L. Cott in the
U.S. District Court for the
Southern District of New York.
Inner
City Press after reporting the arrest
went the SDNY Magistrate's Courtroom 5A and
was told Shin would be
presented at
some undefined
later hours.
But with the door
to 5A locked at 4:30 pm,
Inner City Press was told
Shin "has not been
presented, there are no
terms. Tomorrow is
more likely." And later, as
Inner City Press waited
in front of the locked
door, staff
emerged with a more
specific
prediction: 2 pm
May 30.
In fact it
happened
slightly before
then. Here are
the terms of Shin's
release:
"Surrender
travel
documents and
no new
applications; travel
restricted to
SD/EDNY, DNJ,
EDPA.
$1 Million
bond secured
by $25,000
cash and
signed by two
co-signors
(condition to
be met within
a week)." And,
interestingly,
"Alcohol
testing /
treatment."
Inner City
Press has been
contacted
by those
covering Shin
well before
this, who said
that Shin
"threatened to
kill a
borrower [and]
was
sued for
reneging on a
board control
deal."
Then
on February
12, 2021
leading up to
a trial
scheduled for
August 16,
Judge Woods rejected
many of Shin's
motions in limine
- evidence
will come in. (One
motion was
denied as moot,
excluding six
loans, which
was a win for
the defense).
Jump cut to
April 25,
2022. The case
was
re-assigned to
Judge John P.
Cronan, who has set trial
for April 26.
On the eve of it
the US put in
SBA
documents
about loans
to produce
companies,
offering to
redact
some.
On
November 7, Judge Cronan denied Shin's
application, saying there was no reason to
change his previous decision: "the Court
declines to terminate Defendant Edward Shin's
period of supervised release. This denial is
without prejudice to the Probation Office, Shin,
or the Government making another application for
early termination in the future if appropriate.
The Clerk of Court is respectfully directed to
close Docket Number 273. So Ordered. (Signed by
Judge John P. Cronan on 11/7/24)"
On
November 25, Judge Cronan approved Caribbean and
South Korea travel for Shin: "ENDORSEMENT...The
request is granted. Mr. Shin may travel to Fort
Lauderdale, Florida and Barbados from December
5, 2024 to December 21, 2024. Mr. Shin may also
travel to South Korea from December 29, 2024 to
February 5, 2025. (Signed by Judge John P.
Cronan on 11/23/24)."
The
case is USA v. Shin, 1:19-cr-552 (Cronan).
Watch
this site.
***
November
25, 2024
In Sudan Case BNP Paribas Was Sued in 2016 Now Case Proceeds With Administrator
By
Matthew Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- ESPN
SDNY
COURTHOUSE, Nov 18 – BNP Paribas was sued, and
raised as part of its defense the laws of
Switzerland and of Sudan.
On
November 5, 2020 U.S. then-District Court for
the Southern District of New York Judge Alison
J. Nathan held an oral argument. Inner City
Press covered it.
The
case involves BNP violating Sudan sanctions, and
the mass killing of civilians in Darfur and
elsewhere by the then Omar al Bashir government,
for which BNP claims to bear no responsibility.
Going back from the docket, neither the
complaint nor the amended complaint are
available to the public.
But
the Rule 44.1 notice of issues of foreign law
is.
Jump
cut to September 9, 2022, after Judge Nathan
ascended to the Second Circuit Court of Appeals.
The case was reassigned to District Judge Alvin
K. Hellerstein, who held a proceeding. Inner
City Press again covered it.
Now the parties described to District Judge
Hellerstein how the case is being processed by
Magistrate Judge Jennifer E. Willis. Judge
Hellerstein mulled when and where he will come
in - on class certification and Daubert motions,
he proposed. The response was that those are
intertwined.
Judge Hellerstein said to proceed before
Magistrate Judge Willis, then return to him on
with a proposed agenda and schedule.
On
May 5, 2023 the case convened again, and Inner
City Press was again there. Now there is new
bloodshed in Sudan - but it was not mentioned,
not only. There was discussion of Daubert
motions, a summary judgement briefing schedule
moved from August to September 8 due to
"vacations and kids," as one of the lawyers put
it. No mention of kids currently in Sudan, nor
those left abandoned by largely European
countries.
On
November 18, 2024 the lawyers were back before
Judge Hellerstein, but for a break for two
criminal cases. Judge Hellerstein has said the
class is all refugees or asylees admitted by the
US who formerly lived in Suden or South Suden
between Nov 4, 1997 and December 31, 2021.
Appointed as administrator is Epid Class Action
and Claims Solutions.
Inner
City Press will continue to cover the case - and
the country.
The case is Kashef et al v. BNP Paribas SA et al., 16-cv-3228 (Hellerstein / Willis)
***
November
14, 2024
Guilty Verdicts in Hwang Trial For Archegos $34B Meltdown Now He Wants No Jail Time
By
Matthew Russell Lee, Patreon Substack
SDNY
COURTHOUSE, Nov 8 – In the wake of the
Archegos meltdown, the other shoe dropped on
April 27, when the US Attorney for the SDNY
unsealed and indictment charging Bill Hwang
Patrick Halligan, Archegos’s CFO with
racketeering conspiracy, securities fraud, and
wire fraud offenses.
Inner
City Press went to the SDNY press conference to
ask, What about Credit Suisse and Nomura and
people in those banks? What about the massive
family office loophope to the Investment
Advisors Act of 1940? This has come up in the
OneCoin fraud case, on which the Office used
perjured testimony and now agrees to delay after
delay.
Damian
William referred obliquely to Hwang doing it in
the dark, but otherwise the issue - which is
addressed by a pending bill in Congress - did
not come up. Nor did Lisa Monaco, present in New
York for the presser, address it.
On
June 1, newly assigned District Judge Alvin K.
Hellerstein held a conference in the case. Inner
City Press attended and live tweet it here
(and asked defense counsel a question later, here).
Thread
here.
And
after, stand-up here,
short Q&A here.
On
June 20, 2023 Judge Hellerstein
pushed the trial back: "Trial in the
above-captioned criminal matter, by request of
all parties, is adjourned from January 9, 2024
to February 20, 2024 at 10:00 a.m., in Courtroom
14D. The Final Pretrial Conference will be held
on February 14, 2024 at 2:30 p.m. Time is
excluded in the interest of justice from January
9, 2024 to February 20, 2024 pursuant to 18
U.S.C. § 3161. SO ORDERED (Signed by Judge Alvin
K. Hellerstein on 6/20/2023)."
On
July 27, Hwang wrote in seeking approval of
subpoenas to Goldman Sachs, Morgan Stanley, Bank
of Montreal, Credit Suisse, UBS, Nomura, MUFG,
Mizuho, Macquarie, Jeffries and Deutsche Bank,
to show he did not "use his lawfully executed
swaps to artificially impact the prices of the
underlying stocks."
Jump cut to November 14, 2023 when Judge Hellerstein held an oral argument on the subpoena requests. Inner City Press attended, in mask, and tweeted, threadette:
Hwang
is here at defense table, with COVID mask and
foyr lawyers at table, one behind.
Judge
Hellerstein: Manipulation for manipulation is
meaningless. How was it intended to make money?
When? There are many different ways to hedge.
I'd like to see them narrowed
Berke:
Your Honor, you've done a lot of cases, but this
is the 1st one in which DOJ is charging
manipulation of swaps
Judge:
It's hard to defend against manipulation. Mr
Berke deserves a discussion. US v Nixon provides
the boundary.
Berke:
Thank you
And well he might say that - it seemed the
defense won this round. He mocked what he called
the prosecution's theory of "pump and brag,"
that Hwang did it to brag he'd built a family
office into a major firm.
On
January 3, 2024, still mostly masked, Judge
Hellerstein said the proposed experts are
qualified, that sufficient notice is the issue.
He said he will follow Judge Jed Rakoff's
decision in US v. Mrabet, which Inner City Press
also covered. At the end Judge Hellerstein
said, with a laugh, Don't settle this case, I
want to try it.
More
details on Substack here
On
May 1, 2024, the US Attorney's Office wrote in
to specify that at trial they intend to put
forward evidence about Archegos' predecessor
Tiger Asia, including that the SEC banned Hwang
from acting, among other things, as an
investment adviser.
On
May 6, Halligan's counsel wrote in that the
evidence should not be admitted at trial, as
little of it involves Halligan but he would be
prejudiced by it.
On
May 15 in the trial, Mr. Marks of Operations
testified about reports only to Bill and
Patrick, then Mr. Jones about flying from Dallas
amid the meltdown. Thread here
On
May 21, the US insisted that evidence of Hwang's
"decision not to reimburse employees for lost
deferred compensation" should remain in evidence
before the jury."
Full
letter on Patreon here.
On
May 22, Inner City Press live tweeted cross
examination of cooperator Becker, here.
In the midst of it, an announcement by Judge
Hellerstein of the birth of a baby, and applause
in the courtroom (it's in the thread).
On
May 23, Becker continued - from the thread:
Becker
is asked about his message, "Whatevs, we'll just
roll with it."
Counsel:
Turning to your lost vacation days, Mr. Becker,
you felt you had never worked harder than at
Archegos, isn't that true? Becker: Yes.
Counsel:
You had 3 weeks of vacation - couldn't carry it
over and you were angry, right? Becker: Correct.
Halligan's
lawyer: You didn't want Mr. Halligan involved in
your project, did you? He called you careless-
Judge
Hellerstein: Haven't we gone over this? It's
done. Finished. Halligan's lawyer: You felt he
didn't show appreciation Judge Hellerstein: Move
on
Now
re-direct: AUSA: Mr. Becker, Mr. Berke didn't
show you this sheet, did he? Objection!
Overruled. Becker: He didn't.
AUSA:
You were asked some questions about
conversations with Mr. Halligan. Why was it so
frantic? Let me off this March 23 chat, 3745
Judge
Hellerstein: Jurors, have a good weekend.
[Jurors leave] Defense: Can we discuss schedule
for next week? Judge: Tues and Wed 10 to 5.
Can't say about Thursday. Government, how are we
doing?
AUSA:
We expected Becker 1 week, on schedule
Judge
Hellerstein: Done in 2 weeks? AUSA: That's
aggressive. Adjourned.
On
May 28, the US Attorney's Office filed a letter
seeking permission in advance to ask "what if
you had known" questions of the type blessed by
the 2d Circuit in US v. Cuti (2013), starting
with Bank of Montreal's Joseph Boccuzzi on May
29. Letter on Patreon here
On
July 10, after Inner City Press monitored the
courtroom and lawyers' answers to jury
questions, at 4 pm, live tweeted the (guilty)
verdicts, thread:
Now
in US v. Hwang courtroom, Hwang has moved next
to his lawyer Berke. All rise! Judge
Hellerstein: We have a note. It reads, "The jury
has reached a verdict." Call them out. Jury
coming in! [Hwang has his hands folded in front
of him]
Judge
Hellerstein: Ms. Jones, please take attendance.
[12 names are read out, all say present] Judge
Hellerstein: Ms. Jones, please take the verdict
from Ms. Pope for my inspection.
Judge
Hellerstein: Ms. Jones, please return it to Ms.
Pope and ask her to sign it, as foreperson.
Please date it. Today's the 10th and the time,
4:34.
Ms.
Jones, take the verdict please. Ms Jones: how do
you find Defendant Hwang? Foreperson (softly)
Guilty
Judge
Hellerstein: For both Mr. Hwang and Mr.
Halligan, poll the jury. Ms. Jones: Count 1,
RICO as to Hwang, guilty. Is that your verdict?
[15 times yes] Ms. Jones: Count 1, RICO as to
Halligan, guilty. Is that your verdict? 15 Yes
Count
3, Market Manipulation, Viacom CBS - Guilty. Is
that your verdict? All say Yes - 15
Count
4, Market Manipulation, Discover Communication,
Guilty. 15 Yes.
[US
v. Hwang and Halligan] Count 5: Guilty. Count 6,
GSX, Guilty. Count 7, IQI... Hwang, NOT Guilty.
15 confirm. Count 8, Guilty. 15 yes. Count 9,
Guilty; 15 yes. Count 10, Securities fraud,
counterparties. Hwang, Guilty. 15 yes.
[Verdict
sheet will go on ECF, we'll screenshot it] Judge
Hellerstein: Jurors I discharge you - you even
fought to keep your place on the jury.
[Jurors leave] Judge Hellerstein: It's been a
difficult trial. Motions due in 14 days.
Sentencing date Oct 1, 10 am
Hwang's
lawyer Berke: Due to some of the issues in the
case could we have November? Judge Hellerstein:
October 22. Berke: We may seek an adjournment.
How about December? Judge Hellerstein: Too long.
October 22 at 10 am.
Judge Hellerstein: Bail? AUSA Thomas: The government has no application [not asking for remand or any changes]
Judge
Hellerstein: Sentencing October 28, now, a
Monday, at 2:30 pm. Adjourned
It
was delayed. On November 8, Hwang's lawyers
wrote in asking for a "non-custodial" sentence
in a 70 page memo, citing among other things age
and health.
Back on March 21, 2023 Judge Hellerstein held an hour and a half proceeding in which he denied more than a dozen motions by Team Hwang. Inner City Press was there and live tweeted, thread here.
More
including on Halligan on Substack here.
Later - after re-up
of book
and talk to NYU Journalism School, here
and here
- in the SDNY Magistrate a defendant was
detained until trial, charged as a felon in
possession. We'll have more, much more, on this.
November
11, 2024
Mashinsky of Celsius Wins Order to Depose 4 Witnesses But Not to Delay Trial Nor Dismiss
by
Matthew Russell Lee, Patreon
SDNY
COURTHOUSE, Nov 7 – After
Alexander
Mashinsky of
Celsius was
arrested on
July 13, US
Attorney
Damian
Williams held
a press
conference,
and Inner City
Press asked
him to explain
his
thinking in
agreeing to
release on
bail for Sam
Bankman-Fried
but demanding
and
obtaining
pre-trial
detention of
Avi
Eisenberg.
US
Attorney
Williams
responded that
every case is
different.
Inner City
Press asked if
his office
would be
seeking the
detention of,
or agreeing to
release,
Mashinsky. He
declined to
say either
way, saying
you will soon
see.
On
September 13,
Mashinsky's
lawyers put in
a memo - and
56 sealed
exhibits, see
here
on Patreon -
asking for six
witnesses
(Yarden Noy,
Yaron Shalem,
Ron Sabo,
Johannes
Treutler,
Daniel Leon,
and named
co-defendant
Roni Cohen
Pavon) and
noting that
the US
Attorney's
Office
Pimintel
letter put his
guideline
sentence if
convicted
trial as 115
years.
On
November 7, an
oral arguments
(Inner City
Press live
tweeted here)
at the end of
which Judge
Koeltl granted
a motion to
preserve the
testimony of /
depose four
witnesses, but
not so as to
delay the
trial;
Mashinsky's
motion to
dismiss two
counts was
denied. Later
Inner City
Press saw him,
along carrying
two legal
briefs, going
into Pre-Trial
Services on
the 5th floor.
More
on Substack here
The case is US
v. Mashinsky,
et al.,
23-cr-347
(Koeltl)
***
November
4, 2024
Webster Bank Is Sued for Unscrupulous Loans on NJ Property by BankESB in SDNY
by
Matthew Russell Lee, Patreon Book
Substack
SDNY COURTHOUSE,
Oct 31 – Webster Bank is being sued for
unscrupulous loans, in the U.S. District Court
for the Southern District of New York which
Inner City Press closely covers.
The lawsuit, by the former Easthampton Savings
Bank now known as BankESB, was assigned out to
SDNY District Judge John G. Koeltl on October
31, 2024. It states that Webster’s predecessor
pitched a participation to it in 2020 in a
leasehold office property in New Jersey clled
American Metro Center or AMC.
It says, "Webster has consistently mismanaged
the Webster loan." BankESB asks for recission
and $500,000.
The case is BankESB v. Webster Bank, N.A., 1:24-cv-8268 (Koeltl)
***
October
28, 2024
Turkey Halkbank
Not Immune 2d Cir Decides Again After Supreme
Court Now Back to SDNY
By Matthew Russell Lee, Patreon
SDNY
COURTHOUSE, Oct 21 – Turkey's Halkbank has
officially given up its strategy of refusing to
official appear in the US criminal case against
it, and on February 25, 2020 appeared and agreed
to be indicted. Inner City Press live tweeted it
here
and below.
On
April 12, 2021 with the case stayed pending
appeal, a three-judge panel of the Second
Circuit heard the arguments. Inner City Press
live tweeted it, here: [& fast podcast here]
On
October 22, 2021, the Second Circuit ruled that
Halkbank is NOT immune. And see below.
On
December 21, Halkbank
filed more than 30 pages with
the Second Circuit, seeking a
stay pending appealing to Supreme Court.
Full filing
on Patreon here.
Halkbank
was indicted for Iran sanctions violations and
money laundering in the U.S. District Court for
the Southern District of New York.
Jump
cut to April 8, 2024 when DOJ in a civil case
filed a motion to intervene in and stay, and a
request to move the civil case to Judge Berman
with the criminal case, in Hughes, et al. v.
Halkbank, et all, 23-cv-6481. In that
case, 151 Americans are suing for death or
injuries by Al Qaeda in Afghanistan from 2012 to
2020 and in Syria 2012 to 2013.
April
8, 2024 letter on Patreon here
On
October 22, after going up to the Supreme Court,
the Second Circuit ruled "because Halkbank is
being prosecuted in the United States for its
alleged criminal activity related to its
commercial activities as charged in the
indictment, we defer to the Executive Branch’s
determination, through the U.S. Department of
Justice, that Halkbank should not be afforded
immunity in this case. Accordingly, we AFFIRM
the order of the district court and REMAND for
further proceedings consistent with this
opinion."
The
criminal case is US v. Turkiye Halk Bankasi
A.S., 15-cr-867 (Berman) The appeal number is
20-3499
The
civil case in which DOJ has moved to intervene,
stay and consolidate is
Hughes, et al. v.
Halkbank, et all, 23-cv-6481
(Vyskocil)
October
21, 2024
Opposing Capital One FFW Watch Raised Case of Customer Info to Meta Fed Thumbs Nose
SOUTH
BRONX, Oct
18 – Capital One has applied to buy Discover, in
an anticompetitive deal that should be rejected
by regulators if they mean what they have been
saying.
On
September 4, Fair Finance Watch and Inner City
Press submitted supplemental opposition to the
regulators, including about a newly filed class
action that "demonstrates Capital One's
outrageous, illegal, and widespread practice of
disclosing—without consent—the Nonpublic
Personal Information1 and Personally
Identifiable Financial Information2 (together,
“Personal and Financial Information”) of
Plaintiffs and the proposed Class Members to
third parties, including Meta, Google,
Microsoft, DoubleClick, NewRelic, Adobe,
Everest, Skai/Kenshoo, Snowplow, BioCatch,
Tealium, and possibly others."
October
14, 2024
Toronto Dominion for Money Laundering Pays $3B First Horizon Denied Why Not Capital One
SOUTH BRONX, Oct 10 – Toronto Dominion had to walk away from its planned merger with First Horizon, due to then unspecified regulatory issues. Now on October 10, the Federal Reserve has announced it had "fined Toronto-Dominion Bank $123.5 million for violations related to anti-money laundering laws. This action is being taken in conjunction with criminal and regulatory actions that are being taken by the U.S. Department of Justice, the U.S. Attorney's Office for the District of New Jersey, the Department of the Treasury's Financial Crimes Enforcement Network, and the Office of the Comptroller of the Currency. The penalties announced by the agencies total approximately $3.09 billion." Ah.October
7, 2024
Inner City Press Asks IMF of China Murky Loans Kenya Graft Review and Egypt Timing
by
Matthew Russell Lee, Patreon Book
Substack
NYC,
Oct 3– When the IMF
held its press briefing on October 3, Inner City
Press was able to ask the spokesperson three
questions: on Kenya and governance /
corruption review, on China's murky emergency
loans to lower income countries, and the 4th IMF
review of Egypt's program.
On
Kenya, what is the IMF's response to reported
pressure on Kenya to request an IMF assessment
of corruption and governance issues as part of a
push to unlock lending that has been stalled by
the shelving of tax hikes?
On
Egypt, can you confirm that the IMF has
postponed the fourth review of Egypt's economic
reform for the loan program to November?
What
is the IMF's response to US Treasury official
Brent Neiman saying, as to China, "we must make
sure the result is the expansion of transparent,
credible and on-budget financing flows or debt
relief to countries undertaking reforms, not
potentially damaging forms of lending"?
The spokesperson
Julie Kozack's replies
included that the timing on
Egypt hasn't changed, that a
list of countries in
governance review will be
provided - and it was, here,
including Cameroon
Q&A: Inner City Press Asks IMF of China Murky Loans (Neiman speech), Kenya Graft / "Governance" Review (1st video below) and Egypt 4th Review Timing - Story: https://t.co/1PKZwnR9Oy pic.twitter.com/IF4UQkMZSV
— Inner City Press (@innercitypress) October 3, 2024
and that the US's
- and others' - in put is
welcome, including in
connection with the Bretton
Woods organizations' 80th
birthday. More video
coming on IMF's
website.
***
September
30, 2024
After SBF 25 Years Caroline Ellison Asked for No Jail Time Gets 2 Years Minimum Security
SDNY
COURTHOUSE, Sept 24 – On the US v Sam
Bankman-Fried trial, hours after the guilty
verdict, a book was published: "Crypto Criminal:
The Conviction of Sam Bankman-Fried: As live
tweeted and investigated from inside the SDNY
courthouse by Matthew Russell Lee," audio/book here.
On March 28, 2024, Inner City Press live tweeted
his sentencing, to 25 years.
On September
9 cooperator
Caroline Ellison's
counsel filed
a letter
that "Ms.
Ellison seeks
leave to
redact the
names of certain
people. Counsel
for the
government
consents to
this request." Document on
Patreon here.
Late on September
9 Inner City
Press submitted
opposition to
sealing. Judge
Kaplan docketed the
filing on September
10. See here and,
on DocumentCloud,
here.
If
SBF's suretors were
unsealed, how
not these
eigth
supporters?
Just
before
midnight on
September
10 Ellison's
lawyers filed
a 60+ page
memo, with
redactions,
asking for...
no jail time,
time served.
Filing on
Patreon here.
On September
17, amid the
Sean Combs
detention
hearing, the
US Attorney's
Office filed
that "the
Government
intends to
move at
sentencing,
pursuant to
Section 5K1.1 of
the U.S.
Sentencing
Guidelines(the
“Guidelines”
or
“U.S.S.G.”),
that the Court
sentence
Ellison in
light of the
factors set
forth in
Section
5K1.1(a) of
the
Guidelines."
Letter on
Patreon here.
On
September 24
after praise
from the AUSA
and Judge, Ellison
was sentenced
to 24
months,
minimum security.
Watch
this site.
More
on X for Subscribers
here, Substack here
This case is US v. Bond, 24-cr-494 (Daniels)
We'll
have more on this.
***
Your support means a lot. As
little as $5 a month helps keep us going and grants you access
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September
23 2024
Mashinsky of Celsius Wants 6 Witnesses as US Estimates His Guidelines at 115 Years
by
Matthew Russell Lee, Patreon
SDNY
COURTHOUSE, Sept 13 – On
Mashinsky Feb
15 Conflict
Hearing Set
After His
Lawyers Appear
for SBF
SentencingAfter
Alexander
Mashinsky of
Celsius was
arrested on
July 13, US
Attorney
Damian
Williams held
a press
conference,
and Inner City
Press asked
him to explain
his
thinking in
agreeing to
release on
bail for Sam
Bankman-Fried
but demanding
and obtaining
the ongoing
pre-trial
detention of
Avi Eisenberg
and Miles
Guo.
US
Attorney
Williams
responded that
every case is
different.
Inner City
Press asked if
his office
would be
seeking the
detention of,
or agreeing to
release,
Mashinsky. He
declined to
say either
way, saying
you will soon
see.
On
February 20
Inner City
Press
attended, thread
On
September 13,
Mashinsky's
lawyers put in
a memo - and
56 sealed
exhibits, see
here
on Patreon -
asking for six
witnesses
(Yarden Noy,
Yaron Shalem,
Ron Sabo,
Johannes
Treutler,
Daniel Leon,
and named
co-defendant
Roni Cohen
Pavon) and
noting that
the US
Attorney's
Office
Pimintel
letter put his
guideline
sentence if
convicted
trial as 115
years.
More
on Substack here
The case is US
v. Mashinsky,
et al.,
23-cr-347
(Koeltl)
***
September
16, 2024
After SBF Got 25 Years Salame Got 90 Months now Grilled if SDNY Assurance about Bond
SDNY
COURTHOUSE, Sept 12 – On the US v Sam
Bankman-Fried trial, hours after the guilty
verdict, a book was published: "Crypto Criminal:
The Conviction of Sam Bankman-Fried: As live
tweeted and investigated from inside the SDNY
courthouse by Matthew Russell Lee," audio/book here.
On March 28, 2024, Inner City Press live tweeted
his sentencing, to 25 years.
On May 28
Salame was
"sentenced to
90 months."
On
August 21,
Salame filed
that "the
Government
used the plea
negotiations
to threaten
Salame’s
domestic
partner and
the mother of
his child,
Michelle Bond."
Full filing
on Patreon here.
On
August 22,
after Inner City
Press published
a curtain
raiser on
Michelle Bond
being
presented in
SDNY Mag
court, this: "the
unsealing of
an Indictment
today charging
MICHELLE BOND.
On
August 29,
Saleme
purported to
withdraw
his motion.
Filing on
Patreon here.