Friday, June 13, 2008

Why Savvy Judges Immediately Remand Convicted White-collar Criminals

Crafty Val Southwick lookalike fraudster remains "on the lam."

By Curmudgeon

Here's why judges are often reluctant to grant those convicted of major fraud facing long sentences weeks to "make arrangements for their families" before reporting to prison:

A manhunt continued on Thursday for a hedge fund manager who disappeared Monday hours before he was to have reported to prison to serve a 20-year federal sentence for conspiracy and fraud in a scheme to cheat investors out of $450 million....
Mr. Israel’s sport utility vehicle was found abandoned on the Bear Mountain Bridge over the Hudson River less than two hours before he was expected to report to a federal prison in Ayer, Mass., Monday afternoon....
Mr. Israel pleaded guilty in September 2005 to charges of conspiracy and fraud after squandering millions of dollars and producing fake audits of the hedge fund’s performance to hide losses. He was sentenced in April to 20 years.
The judge in the case, at sentencing, told the convicted scammer this:

At Mr. Israel’s sentencing in April, Judge Colleen McMahon of Federal District Court in Manhattan also ordered Mr. Israel to pay $300 million in restitution, adding that “people who commit crimes while wearing a tie do not get a break.”
A sentiment the judge in the Val Southwick case clearly shared.

The excerpts above are from a story in today's NY Times.

2 comments:

RudiZink said...

Thank Goodness Val Southwick has been relieved by the trial court judge of the emotional burdens of day-to-day scamming. He now has the glorious opportunity to cultivate a close relationship in relative seclusion with his new cell-mate, Bubba.

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