While the rattle of jangling handcuffs filled the streets of downtown New York yesterday as a whole new band of (cough) alleged
hedge |
fund |
managers |
miscreants were hauled in on wire and securities fraud charges, sort-of breaking news arrives on the sort-of pioneering Bayou family.
After the jump:
Scammy back in court Friday
Marino’s appeal denied
Marino brother’s sentencing deferred
Scammy back in court Friday
Bayou founder Scammy Israel III is due in federal court in White Plains, NY, tomorrow afternoon; he’s been back in the ’hood — specifically, the Westchester county jail, Valhalla —for a week or more after his physical, psychological and pharmaceutical evaluation sojourn at the Federal Medical Center, Devens, Mass. It is expected that the
excessively tolerant Judge Kenneth Karas will actually get round to taking the Scamster’s plea on that whole faked suicide, slipping the leash and wasting the US Marshalls Service time thing.
Unless, of course, Scammy has yet another stunt up his sleeve.
Marino’s appeal denied
The US Court of Appeals for the Second Circuit denied Bayou chief financial officer Daniel Marino’s appeal against his 20-year sentence, although not without a gentle elbow to the ribs of Judge Colleen “Hang ’em high” McMahon:
We pause to note that we might ourselves have given greater weight than apparently did the district court to Marino's plight — his almost complete deafness and accompanying sense of loneliness, his lack of self-esteem, his bouts with cancer, his apparent fear of and deference to Israel — and his assistance to the government detailed in its “5K1 Letter” (noting his aid to the government in understanding the fraud, his immediate contrition and taking of responsibility upon discovery, and his contribution to the guilty pleas of his co-conspirators). But it is not for us to substitute our judgment for that of the district court, whose sentence was procedurally and substantively proper.
Summary order
US Court of Appeals for the Second Circuit
Feb. 17 2009
Brother’s sentencing delayed (again)
Matthew Marino, brother of Dan, was due to be sentenced Feb. 10 for his role —
...from in or about January 2005 through in or about August 2005, having knowledge of the actual commission of a felony cognizable by a court of the United States, specifically, the conspiracy to commit mail, wire and investment adviser fraud on the investors of the Bayou funds, MARINO concealed and did not as soon as possible report the crimes to federal authorities.
— in the Bayou shambles. The new sentencing date, if any, was not available at pixel-time.
Earlier on NakedShorts