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WPCNR POLICE GAZETTE. By John F. Bailey. March 24, 2014:
Several persons asked WPCNR today about our gun buy back coverage of Saturday’s White Plains Gun Buy Back, if guns could be still be turned in.
Yes, because there is a gun buy back in Poughkeepsie.
Persons in the tri-county area can bring guns, rifles, assault weapons to the Poughkeepsie Gun Buy Back the New York Attorney General’s Office is sponsoring Saturday March 29 at 505 Main Street Poughkeepsie, the municipal building and police and fire headquarters there from 9:30 A.M. to 12:30 P.M. You will be reimbursed by debit card for your gun (s) no questions asked, no names taken. The gun will be compared against the national ballistics database. For info, call the Attorney General’s Office (914) 422-8731 ask about the Poughkeepsie Gun Buy Back.
White Plains Commissioner of Public Safety David Chong (above) said that you can turn in a gun to the White Plains Department of Public Safety, but you will not be paid for it. Under the following conditions:
The Commissioner told WPCNR how a citizen wishing to turn in a gun to the police can do that:
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JOHN BAILEY and JIM BENEROFE
INTERVIEW
ALEC ROBERTS
FOUNDER, EXECUTIVE DIRECTOR OF
COMMUNITY HOUSING INNOVATIONS
ON
THE BRAIN DRAIN OF WESTCHESTER’S 20 AND 30 SOMETHINGS
WHY? WHERE ARE THEY GOING?
AFFORDABLE HOUSING–WHY IT’S NEEDED–HOW TO DO IT WITHOUT COMMUNITY OPPOSITION.
HOW TO INVOLVE COMMUNITIES PROACTIVELY TO FULFILL THE HUD SETTLEMENT
AND MORE ON
The Unique Program Where People Who Have Something to Say
Have THEIR Say
“PEOPLE TO BE HEARD”
CHANNEL 45 FIOS COUNTYWIDE
CHANNEL 76 CABLEVISION WHITE PLAINS
10:30 WEDNESDAY
AND
INSTANTLY
NOW
ON THE INTERNET
www.whiteplainsweek.com
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New design for “Boulevard” not final Grid Properties spokesperson says.describes the “mall” as featuring home furnishings retail, fitness/health establishments, and restaurants. Boulevard will have free parking and 800 indoor and outdoor parking spaces. When last WPCNR heard from the Grid legal counsel, the national developer was developing zoning-compliant design of the project. The Boulevard is reported by Grid as comprising 250,000 square feet. More to come. The location is on West Post Road just down the street from Winbrook and the new Post Road School
WPCNR WEST SIDE STORY. By John F. Bailey. March 24, 2014:
The new design found on the Grid Properties website is not final no final decisions have been made, Mark Weingarten, of DelBello, Donnelan & Weingarten, attorneys for Grid on this developing project issue told WPCNR today in a statement, writing:
Thank you for your inquiry. Unfortunately, we are not In a position to share with you final plans for an application. Our client continues to explore various concepts, but no final decisions have been made. When our client finishes its planning process we will provide plans to the public for review.
As to your specific question, our client who was in the process of updating its entire website, inadvertently uploaded some concept drawings for this project which are in no way final. These images are being removed from the site today.
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Commissioner of Public Safety David Chong (center) with Mayor Thomas Roach to his left before the display of 54 handguns and 40 rifles, shotguns and military rifles turned in by the public Saturday morning at the first ever White Plains Gun Buy Back. The arsenal of 54 “highly concealable” hand guns was impressive below.
WPCNR POLICE GAZETTE. By John F. Bailey. March 23, 2014:
Ninety four guns were turned in by the public at large in four hours Saturday morning ( no questions asked) at the first Gun Buy Back held in White Plains. The citizens were paid a total $5,075 for the guns from state (crime) forfeiture funds.
It was the first buy back event ever in the city. It was organized by the City of White Plains in cooperation with the New York State Attorney General’s Office.
Assistant Attorney General Gary Brown, (above) in charge of the Attorney General’s Westchester Office said 54 handguns all in working, firing condition, were purchased back and 40 rifles, including shotguns and military weapons were turned in.
Mr. Brown said the event was a success. He said the next Gun Buy Back would be held in Poughkeepsie next Saturday March 29 at the Poughkeepsie public safety building at 505 Main Street. Brown told WPCNR the majority of persons turning in guns were over 40 years old. Many, he said, had had the guns in their possession for years and were pleased to get them out of their possession.
Mayor Thomas Roach of White Plains in a news conference said his office worked with the Attorney General Office to set up this morning’s gun buy back, but had no idea what to expect. “When I arrived about 9:30, there were 40 people sitting down waiting to turn in guns.”
By 10: 30, 80 guns had been turned in for cash payments in the form of debit cards. The guns were turned in and no names were recorded.
White Plains Commissioner of Public Safety David Chong called the White Plains Gun Buy Back a “success,” and hoped, working with agents and the attorney generals office, that another White Plains Buy Back could be arranged.
Commissioner Chong (left) pointed out the vast array of pistols to Mayor Roach(center), what he called “easily concealable handguns” as now being weapons that could not be stolen out of persons homes and possibly used in a crime. Assistant Attorney General Gary Brown stands at the far right.
Chong singled out a very realistic looking assault weapon replica that fired multiple rounds of BBs, which he said “sadly is available to the public.” He said such a gun ( a working replica of an assualt rifle) could lead to an unfortunate incident and regretted such a working replica was available for sale to the general public, and did not have to be licensed.
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WPCNR SOUTH END TIMES. Statement from the French American School of New York. March 21, 2014:
The French American School of New York issued this statement, unsolicited by WPCNR, in observation of the filing of a lawsuit by the Gedney Association asking the New York Supreme Court to require the city to reexamine issues the Gedney Association charges in its suit that were not thorougly vetted before the Common Council voted a favorable Environmental Impact Statement on the school plans to build a campus on the former Ridgeway Country Club.
The Statement:
The study and scope of the environmental review of our school’s planned campus on the defunct Ridgeway Country Club property was the most thorough ever conducted by the City of White Plains. This multi-year, multi-million dollar review constitutes thousands of pages and encompasses virtually every conceivable aspect of the plan and its potential impacts. The Findings Statement alone is 129 single-spaced pages, involved more than two years of public review and environmental analysis and was adopted by a 6-1 vote.
The plan approved under the State Environmental Quality Review Act (SEQRA): significantly reduces traffic overall; shifts school traffic to a main arterial roadway (North Street); requires mandatory busing for eligible students; limits the total number of students; approves 75-plus acres for a permanent publicly accessible conservancy with pedestrian and open space linkages; extensively incorporates green technology and building practices; and incorporates a myriad of other positive features and designs minimizing the impact of the school.
While we are disturbed to see the personal attacks against individual Common Council members that are contained in the lawsuit, we are confident in the process that has been followed in the review of the plan. We are proceeding in advancing all of our applications and plans. The lawsuit will not delay the City’s review of the Site Plan or Special Permit. Few if any environmental reviews of this kind have ever been overturned by the courts.
As we respond to the lawsuit, we will continue to reach out and work with the many supporters of the school both in the Gedney neighborhood and across the city, and we look forward to joining the many high-quality educational entities that are privileged to call White Plains home.
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TONIGHT 7:30 PM COUNTY WIDE ON FIOS CHANNEL 45
WHITE PLAINS WIDE ON CABLEVISION 76
AND INSTANTLY ON THE INTERNET
www.whiteplainsweek.com
NOW
THE NEIGHBORHOOD NEWSIES:
PETER KATZ, JOHN BAILEY, JIM BENEROFE
ON
THE NEW CREDIBILITY OF AUSTRALIA’S RADAR
THE WINBROOK LABOR DISPUTE
GEDNEY ASSOCIATION SUES CITY ON THE FASNY ENVIRONMENTAL FINDING
THE STATE PLOT TO KILL TESLA- WHITE PLAINS RALLIES TO TESLA’S SIDE IN THE ELECTRIC CAR WAR
SUSTAINABLE PLAYLAND DOES NOT LOOK TOO SUSTAINABLE AFTER LEGISLATORS TOUR PLAYLAND–THERE IS NO MONEY STORY YET
THE DEMOCRATIC DISTRICT LEADERS ARE IN A HISSY FIT OVER HOW BOYKIN REPLACEMENT WAS SELECTED.
BRING YOUR UNLOADED GUNS TO TOWN AND TURN THEM IN NO QUESTIONS ASKED AT
THE FIRE HEADQUARTERS SATURDAY MORNING! AND GET CASH!
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The Buchwald-Tesla News Conference at Tesla Showroom in
The Westchester Friday morning.
WPCNR ALBANY ROUNDS. From the Office of District 33 Assemblyman David Buchwald. March 21, 2014:
Assemblyman David Buchwald (D-White Plains) announced at a press conference on Friday with Tesla, elected officials, business leaders and environmental advocates their strong opposition to Bill A.7844-A.
In addition, Assemblyman Buchwald and Tesla announced an additional measure to encourage the use of electric vehicles in New York State. As Tesla expands its Supercharger network across the State of New York to enable free long distance travel for Model S customers, it is building in additional electrical capacity and reserving extra real estate to co-locate non-Tesla charging points at Supercharger locations.
The proposed legislation would end the direct sale of Tesla’s clean energy cars in New York State, and as a result, stifle environmental innovation, limit consumer choice, and impact jobs.
The bill mandates that vehicles in New York be sold exclusively through dealerships, outlawing automobile sales directly to the public.
Tesla is the only car manufacturer in New York that sells directly to consumers through its retail stores, just as Apple sells its products directly through its Apple Stores.
This announcement of growing opposition to the bill comes on the heels of New Jersey passing a rule last week to end Tesla’s direct sales of cars to consumers. The New York bill passed the Assembly Codes Committee on Wednesday, but still must be voted on by the full State Assembly before it becomes law.
Tesla announced that it welcomes companies interested in installing EV-compatible charge points for non-Tesla vehicles to inquire about permitting and construction at Supercharger locations in New York State. Providing electric charging capabilities along New York’s highways will help serve the needs of New York’s drivers, and encourage clean-energy innovation by automakers.
Tesla intends to install more than five Supercharger stations in the State, with two already having been installed at the JFK Airport and in Syosset, Long Island. According to Tesla, the company currently uses eight New York suppliers in the development and production of its vehicles amounting to over $9.5 million in purchase orders for New York goods and services. Each of Tesla’s service and sales centers add between $7-10 million in direct economic activity.
Assemblyman Buchwald was joined by Tesla Vice President of Regulatory Affairs and Associate General Counsel James Chen, White Plains Mayor Tom Roach and Mount Kisco Mayor Michael Cindrich who both have Tesla facilities in their municipalities, NY League of Conservation Voters Westchester Chapter Chair Nanette Bourne, Natural Resources Defense Council Director of Vehicles and Fuels Luke Tonachel, Environmental Entrepreneurs NY Metro Chapter Co-Director Chris Arndt, Lower Hudson Sierra Club Representative Ed Berry, Bedford 2020 Senior Vice President Olivia Farr, EcoNeighbors Co-Founder Marie McCann, Sustainable North Castle Co-Chair Eileen Joy, Westchester County Legislator Peter Harckham (D-North Salem), Members of the White Plains Common Council – John Kirkpatrick, Milagros Lecuona, John M. Martin and Beth Smayda, and other environmental and business advocates from across Westchester County and New York State.
“I have 3 Tesla facilities in my Assembly District alone, supporting 35 jobs,” said Assemblyman Buchwald. “This bill presents an immediate threat to these men and women who are contributing to the economic growth of Westchester County and the environmental innovation of New York State. Having worked in economics, I can tell you that mandating our cars be sold exclusively through dealerships is not consistent with having a competitive marketplace. We need to be encouraging – not discouraging – innovative ideas to improve our economy and environment. After what occurred in New Jersey, there should be no doubt that passage of this bill would shut down Tesla’s sales ability in New York, just as it is making strides towards giving Americans an alternative to gasoline-based transportation.”
Westchester Legislator Ken Jenkins (D-Yonkers) joined the growing opposition to new legislation moving through the New York State Assembly that would ban direct sales of Tesla electric cars in the state.
“The fight against Tesla is also a fight against free enterprise, open economic markets and environmental sustainability,” said Jenkins. “Tesla employs thirty-five people right here in Westchester, and this is just the start of something bigger as more people go green when shopping for a new car. Protecting self-interests against new discoveries and the wave of the future goes against the strong values that have made our nation a great, transformative force. I stand with Assemblyman Buchwald in keeping the New York market open to Tesla.”
“The bill before the New York State Legislature would hurt consumer choice for New Yorkers, eliminate jobs in the state, and discourage innovation in order to benefit a special interest trying to protect its monopoly,” said James Chen, Tesla’s Vice President of Regulatory Affairs and Associate General Counsel. “Each of Tesla’s locations in New York adds $7-10 million in direct economic activity to the State. We hope we can continue to invest in New York and help make it a leader in sustainable transportation. ”
“I applaud Assemblyman Buchwald’s efforts to stop this state legislation, which would compromise the ability of companies such as Tesla to operate in New York State,” said White Plains Mayor Tom Roach. “White Plains is working hard to expand its network of electric vehicle charging stations. Our goals are to make it easy and convenient for those with electric vehicles to come to White Plains and at the same time to encourage others to think about moving to an electric vehicle because they see that they can readily access charging stations. The presence of Tesla in White Plains supports those goals. That is why I am supportive of Assemblyman Buchwald’s efforts and opposed to this legislation.”
“Tesla recently opened a service center and showroom in the Village of Mount Kisco to meet the demands of their ever-growing client base,” said Mount Kisco Mayor J. Michael Cindrich. “Tesla has realized unprecedented success in the development of cutting edge technology that protects our environment. Government should not interfere with free trade, let the consumer decide how an automobile is purchased. I stand in support of Assemblyman Buchwald’s initiative and invite future New Jersey Tesla owners to visit Mount Kisco’s Tesla facility.”
“New York should be doing everything it can to remove barriers to clean-energy vehicles. Unfortunately, the proposed law would make it harder for New Yorkers to buy electric vehicles by limiting choice,” said Marcia Bystryn, President of the New York League of Conservation Voters. “This bill is wrong for the environment and wrong for consumers, and we strongly encourage our state leaders not to support it.”
“New Yorkers could really benefit from opening up the marketplace to auto sellers that use a different model, a model that protects consumers but allows direct sales,“ said NYPIRG Legislative Counsel Russ Haven. “Many New Yorkers love their local dealers and they can continue to shop that way. But for others, including those with a Tesla in mind, it’s time to stop defending the status quo auto marketplace in New York.”
“Sierra Club stands with Assemblyman David Buchwald in opposing A 7488 which would effectively close down Tesla business operations in New York State, said Lower Hudson Sierra Club Representative Ed Berry. “Consumers would not only be prevented from purchasing electric vehicles but a new and innovative way of doing business would be stopped. This direct relationship between manufacturer and consumer can help drive future innovation and environmental progress. As a society we should be looking forward not backward. This bill is a step backwards.”
“Electric vehicles reduce harmful air pollution, cut our dependence on oil, and save drivers big money at the pump,” said Natural Resources Defense Council Director of Vehicles and Fuels Luke Tonachel. “With benefits like these, New York should be looking for ways to get more electric vehicles on the road, not throwing up detours.”
“I find it difficult to understand why this bill is even being debated,” said Assemblywoman Amy Paulin (D-Scarsdale). “Here we have a clean-energy car that can function effectively without polluting the environment. I think we should be supporting this and other ventures like it rather than fighting against it. And that doesn’t even take into account the jobs in White Plains that would be lost as a result of this bill.”
“Environmental Entrepreneurs is opposed to Bill A.7844-A,” said Environmental Entrepreneurs NY Metro Chapter Co-Director Chris Arndt. “We do not believe that Tesla, or any other company with new innovative technology, electric or otherwise, should be artificially shut out of the market and/or forced through a distribution model that may make sense for combustion engines, but not for other new approaches to automotive transport, particularly when the new approaches offer a pathway away from fossil fuel dependence and toward a clean sustainable economy.”
“EcoNeighbors, a White Plains environmental group, supports the efforts of State Assemblyman Buchwald, Tesla, and other local environmental groups to widen availability and practicality of electric cars in New York state,” said Eco-Neighbors Co-Founder Marie McCann. “In the interests of our children and grandchildren, we must move as rapidly as possible toward cleaner energy in every sphere of human life, including transportation. New York State should not follow New Jersey’s policy of impeding Tesla sales, but should instead make it easier for Tesla to bring more electric cars to New York residents.”
“Tesla is a model company in that it is leading the charge to introduce a 21st century response to the need to reduce fossil fuels, said Bedford 2020 Co-President Ellen Rouse Conrad. “Their innovative approach, with both the cars they are producing and the solar-based charging stations they are supporting, is a win-win. One day our grandchildren will thank us and Assemblyman Buchwald for this effort to allow Tesla the freedom to solve a serious problem for our nation.”
“Sustainable North Castle supports Tesla’s focus on reducing vehicle emissions and oil dependency through their advances in green technology, and thus opposes the proposed bill that would ban direct sales of Tesla cars in New York State,” said Sustainable North Castle Co-Chair Eileen Joy.
“As Director of the Joule Assets Energy Reduction Assets investment fund–we invest in energy reduction projects and where markets make sense we invest and build jobs,” said Mike Gordon, a businessman from Lewisboro. “When incumbent industries seek to block the energy reduction economy, we can’t invest. That means lost jobs, foregone economic benefit and lost tax revenues. This bill, in my view, would not be wise.”
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WPCNR WHITE PLAINS LAW JOURNAL. From the Gedney Association. March 20, 2014:
The Gedney Association, representing a neighborhood of 455 families, situated in Gedney Farms, one of the City of White Plains lowest density residential neighborhoods, has filed suit against the Common Council regarding its recent non-unanimous decision to accept the environmental findings pertaining to the French American School of New York’s proposal to build a regional school complex on the environmentally sensitive former Ridgeway Country Club property.
The suit alleges that the Common Council decision violated the very clear requirements under New York State’s Environmental Quality Review Act. Speaking of the suit Terence Guerriere, President of the Association, said “Regrettably, the Common Council violated many of the environmental review requirements mandated by the State law and its own City land use procedures. We felt obligated to challenge the decision. The private regional school’s impact on the health, safety and welfare of area’s neighborhoods is our overriding concern”.
Among the most glaring omissions (the news release says) was the introduction of a new entrance and roadway into the proposed complex without requisite public review or input.(show above)
The release claims, the City’s own traffic report questioned the salutary effects of the revised entrance. Mr. Guerriere said “The SEQRA process is not intended to be a multiple-choice proposition. It is only fair to have a plan fully enunciated in order to permit complete evaluation and subsequent input from affected residents”.
The Council’s decision, (the release says) is the only time in recent memory that such a decision was made despite the overwhelming opposition to the vast majority of area residents.
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WPCNR FBI WIRE. From the Federal Bureau of Investigation. March 20, 2014:
The managing clerk of the New York office of Simpson Thacher & Bartlett LLP—a prominent, international law firm—and a professional stock broker who worked at Oppenheimer & Co. and Morgan Stanley were arrested Wednesday and charged with participating in a multi-year insider trading scheme that allegedly netted more than $5.6 million in illicit profits, New Jersey U.S. Attorney Paul J. Fishman announced.
Steven Metro, 40, of Katonah, New York, and Vladimir Eydelman, 42, of Colts Neck, New Jersey, are both charged by complaint with one count of conspiracy to commit securities fraud and tender offer fraud, as well as multiple counts of securities fraud and tender offer fraud: Metro is charged with nine counts of securities fraud; Eydelman is charged with eight counts of securities fraud; and each defendant is charged with four counts of tender offer fraud. FBI agents arrested Metro in Katonah and Eydelman in Colts Neck Wednesday morning.
“These defendants are charged with using confidential information that Metro stole from his employer to reap huge illegal profits,” U.S. Attorney Fishman said. “They allegedly rigged the system by exploiting sensitive information that was not available to other investors. This kind of activity undermines the integrity of our financial markets and weakens investor confidence.”
“As alleged in the complaint, Metro, Eydelman, and another engaged in a lengthy insider trading scheme that reaped more than five million in illicit profits,” said FBI Special Agent in Charge Aaron T. Ford. “The FBI is committed to investigating allegations of insider trading and will hold violators accountable to ensure the integrity of the financial markets. We will continue to work with our partners to identify securities fraud so investors maintain a high level of confidence in the markets.”
According to the complaint unsealed today:
Metro, Eydelman, and a third person who subsequently became a cooperating witness—referred to in court documents as “the CW”—engaged in an insider trading scheme that began in 2009. The conspirators invested more than $33 million and reaped more than $5.6 million in illicit profits over the life of the scheme.
Starting in November 1999, Metro worked at the New York office of Simpson Thacher & Bartlett LLP, one of the nation’s premier mergers and acquisitions law firms. During the period of the trading scheme, he was the firm’s managing clerk, responsible for, among other things, filing pleadings on behalf of attorneys. Eydelman was a broker-dealer employed first at Oppenheimer & Co. and most recently by Morgan Stanley, both renowned investment firms.
While at the law firm, Metro repeatedly obtained inside information regarding anticipated corporate mergers and acquisitions on which his firm was working. He disclosed the material, non-public information to his friend, the CW. Metro would arrange to meet the CW in person and would disclose inside information, including the stock exchange ticker symbol of the company in which to invest and the pricing and/or timing of the planned transaction. The CW would write the information on a small piece of paper or napkin.
The CW would then meet with Eydelman, usually the same day, to divulge the stolen information. These meetings usually occurred at an agreed-upon location near the large clock in New York City’s Grand Central Terminal. The CW would show Eydelman the paper or napkin on which the CW had written the ticker symbol of the company whose securities should be purchased. After Eydelman memorized the ticker symbol, the CW then would place the paper or napkin into his mouth and chew it until it was destroyed.
Eydelman purchased securities for himself, family members, friends, and clients, including the CW. Eydelman quickly sold the shares and covered any options positions once the relevant deal was publicly announced and the stock price rose.
Over the four-year period, the CW reinvested approximately $7,000 in profits that Metro made on the first deal and updated Metro on the running balance of his profits from the insider trading scheme. As of October 2013, by which time the conspirators had traded ahead of at least 13 planned corporate transactions, Metro’s share of the profits had reached approximately $168,000.
The complaint specifically identifies the 12 transactions and one uncompleted transaction ahead of which Eydelman, Metro, and the CW traded between February 2009 and February 2013.
The complaint also details a number of recorded meetings among the conspirators. During the course of one meeting with the CW on January 28, 2014, Metro expressed his desire to cash out his share of the illicit profits. Metro stated to the CW, “You gotta try to liberate some cash, somewhere, or I’m going to be freakin’ flat out.” Metro also promised to let the CW know of any planned M&A deals that he came across in the future, stating that although “right now it’s all been private equity, private equity…I think this year, it’s going to be a good year[.]”
In a meeting on February 6, 2014, Eydelman indicated he would be willing to pay a portion of the cash proceeds owed to Metro. Eydelman stated, “I got seven [thousand]….That’s all I can do, without [my wife] knowing.”
Eydelman came through with the $7,000 in cash for the CW to use to compensate Metro for tipping them inside information. During a recorded meeting with the CW on February 20, 2014, Eydelman handed the CW a small plastic shopping bag with a cigar manufacturer’s logo on it, stating, “Take these cigars, put it to good use.” Eydelman enclosed $7,000 in cash in the cigar bag he handed to the CW.
The conspirators attempted to hide their illegal conduct. In addition to the CW destroying pieces of paper on which he wrote the ticker symbols provided by Metro, Eydelman sent the CW “covering” e-mails that contained false justifications designed to suggest that their trades in the subject securities were based on research, not inside information.
While Metro relied on the CW to reinvest his illicit profits on his behalf, Eydelman realized substantial personal profits on an ongoing basis from the insider trading scheme and used these unlawful proceeds to purchase a new 2011 Maserati Grand Turismo for $117,700 and to spend tens of thousands of dollars on expensive jewelry. Eydelman also used illicit proceeds to purchase his residence and to pay the mortgage on the property.
The conspiracy count with which Metro and Eydelman are each charged carries a maximum potential penalty of five years in prison and a $250,000 fine or twice the aggregate loss to victims or gain to the defendants. On the substantive securities fraud and tender offer fraud charges, they each face a maximum of 20 years in prison and a $5 million fine. The complaint also seeks the forfeiture of Eydelman’s residence.
U.S. Attorney Fishman credited special agents of the FBI, under the direction of Special Agent in Charge Aaron T. Ford in Newark, for the investigation leading to today’s arrests and complaint. He also thanked the U.S. Securities and Exchange Commission’s Market Abuse Unit, under the direction of Daniel Hawke. He also thanked the New York FBI, under the direction of Assistant Director in Charge George C. Venizelos, for assistance with the investigation.
The government is represented by Assistant U.S. Attorneys Shirley U. Emehelu of the Economic Crimes Unit of the U.S. Attorney’s Office in Newark, and Joseph R. Gribko of the U.S. Attorney’s Office in Trenton, as well as Marion Percell, Chief of the of the Office’s Asset Forfeiture and Money Laundering Unit.
The charges and allegations contained in the complaint are merely accusations, and the defendants are presumed innocent unless and until proven guilty.
These charges are part of efforts underway by President Obama’s Financial Fraud Enforcement Task Force (FFETF) which was created in November 2009 to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes. With more than 20 federal agencies, 94 U.S. attorney’s offices, and state and local partners, it is the broadest coalition of law enforcement, investigatory, and regulatory agencies ever assembled to combat fraud. Since its formation, the task force has made great strides in facilitating increased investigation and prosecution of financial crimes; enhancing coordination and cooperation among federal, state, and local authorities; addressing discrimination in the lending and financial markets; and conducting outreach to the public, victims, financial institutions, and other organizations. Over the past three fiscal years, the Justice Department has filed more than 10,000 financial fraud cases against nearly 15,000 defendants including more than 2,700 mortgage fraud defendants. For more information on the task force, visit www.stopfraud.gov.