WHITE PLAINS CITIZENETREPORTER SETS RECORD VISITS FOR YEAR 7,017,658 VISITS! 2,098,003 VISITORS MADE 6 VISITS A DAY EVERY DAY. 63,330 UNIQUE VISITORS MADE 133,730 VISITS IN DECEMBER. WPCNR AVERAGED 17,284 VISITORS A WEEK, VISITING 31,270 TIMES. | WHITE PLAINS WESTCHESTER DAILY NEWS SERVICE VISITS SINCE 2000 A.D. 25TH YEARl REPORTING THE NEWS YOU NEED TO KNOW News Service Since 2000 A.D. 2026 WILL BE OUR 26TH YEAR OF COVERING WHITE PLAINS NEW YORK USA . John F. Bailey, Editor (914) 997-1607 wpcnr@aol.com Cell: 914-673-4054. News Politics Personalities Neighborhoods Schools Finance Real Estate Commentary Reviews Policy Correspondence Poetry Philosophy Photojournalism Arts. The WHITE PLAINS CITIZENETREPORTER. TELEVISION: "White Plains Week" News Roundup, 7:30 EDT FRI, 7 EDT MON & the incisive "People to Be Heard" Interview Program 8PM EDT THURS, 7 PM EDT SAT on FIOS CH 45 THROUGHOUT WESTCHESTER AND, ALTICE OPTIMUM WHITE PLAINS CH 1300 Fighting for Truth, Justice and the American Way. TOP 10 VISITORS FROM AROUND THE WORLD :1. USA. 2.BRAZIL3.VIET NAM 4. CHINA 5. JAPAN 6.UK. 7.CANADA. 8.INDIA. 9.AUSTRALIA 10.IRELAND 11.GERMANY 12..ARGENTINA 13.BANGLADESH 14.RUSSIA. 15.NEWZEALAND. 16. FRANCE. 17.MEXICO. 18.UKRAINE. 19.SOUTH AFVRICA. 20. IRAQ.

Feiner: Reasons Why Indian Point Should Be Closed

Posted on March 16, 2011 by John Bailey

WPCNR THE FEINER REPORT. News & Comment Special to WPCNR By Paul Feiner, Town of Greenburgh Supervisor, March 16, 2011:

Many of my constituents are concerned about Indian Point. The recent Japan earthquake and nuclear power plant radiation leaks (meltdowns) have caused many people to question what would happen if our area experiences an earthquake.

Indian Point, like the nuclear power plants in Japan, are located on earthquake faults. Although it is unlikely that we will experience as strong an earthquake as the earthquake in Japan – Indian Point is located very close to NYC. I do not believe that nuclear power plants should be located near heavily populated areas.

An earthquake is only one risk. The other: a terrorist attack. Indian Point is a possible terrorist target.

Are we at greater risk because Indian Point is so old (built almost 40 years ago)? Has age caused corrosion and rusting? We all know of the pipe leaks. Is there corrosion or cracking on the inside of these pipes?

A report from Lamont Doherty (Columbia University’s earth observatory) indicates that our region is due for a big earthquake—a 6 or 7 magnitude. Are we prepared?

If an evacuation would be required most of my constituents (myself included) are not prepared. There have been no evacuation exercises involving the general public. Elected officials in Greenburgh and in a good portion of Westchester have not been briefed as to what we should do. Our roads can’t handle an evacuation and traffic will not keep moving. There are inadequate shelters.

Unlike Japan, we have not planned to provide our residents with KI pills and protection. Radiation suits are not available. And, our cell phone system in Westchester is not very reliable –there are many sections that have no cell service, making it difficult to communicate.

Do we have a contingency plan for food and water contamination? If winds carry fallout toward the New Croton, Kensico and Hillview reservoirs contingency plans for food and water supply are necessary.

Castelli Unhappy with Assembly Budget

Posted on March 15, 2011 by John Bailey

WPCNR ALBANY ROUNDS. Special to WPCNR from the Office of Assemblyman Robert Castelli, 89th District. March 15, 2011:

Assemblyman Robert J. Castelli (R,C-Goldens Bridge) today announced he would be voting against the Assembly Majority’s one-house budget resolution, calling it a letdown for New York taxpayers and attacking the resolution for containing onerous tax hikes, including a tax on infants and cancer treatments, while lacking needed mandate relief.

“The Assembly Majority’s one-house budget resolution does not contain the necessary reforms needed to address the state’s current and long-term fiscal needs,” Castelli said. “Instead of offering a resolution that seeks to improve the state’s finances, the Assembly Majority is giving New York taxpayers more of the same in higher taxes and increased spending and no relief from unfunded state mandates. Westchester families and businesses deserve better.”

Assemblyman Castelli noted that the Assembly Majority’s budget resolution adds half a billion dollars to the Governor’s proposed $133 billion spending plan and calls for $700 million in new taxes this year.

“Lawmakers need to do better,” Castelli said. “The resolution hardly addresses any of the tough decisions that lawmakers were expected to make this year, no unfunded mandate relief, no Medicaid reform and no spending restraint. If the Majority continues down this path, they will push us into bankruptcy and possibly a government shutdown.”

However, Assemblyman Castelli cautioned that this is not the last step in the budget process.

“We currently have the chance to right the ship of state; but the longer the Majority avoids making tough choices and holds onto the belief that they can tax their way out of any problem, the longer it will be until New York can move out of the current economic crisis and move to a more vibrant economy,” Castelli said.

Hockley Files. Will Cut Taxes, Trim Budget. Oppose FASNY at Ridgeway.

Posted on March 14, 2011 by John Bailey

WPCNR Campaign 2011 by John F Bailey March 14, 2011:

Glen Hockley, People Over Politics candidate for Mayor of White Plains submitted petitions containing over 1,100 signatures to the County Board of Elections this morning in order to place his name on the ballot for the March 31 Special Election for mayor of White Plains(pending Board of Election approval of his petition).

Hockley said he was going to bring taxes down. Asked if elected mayor if he would keep the city budget where it is at this year’s $155.5 million, Mr. Hockley said “we need to do a major efficiency program at City Hall,” and that he would “look at every area of the budget and department for more cost savings and strip away what is not working.”

Hockley came out strongly for preserving the integrity of White Plains neighborhoods, such as, he said “by not putting a school in the middle of a residential neighborhood. Are you listening, Ridgeway? Are you listening, Gedney Farms? Are you listening Haviland Manor?” This apparently is a reference to the plan hotly opposed by the Gedney Association where the French American School would build three schools and an auditiorium on the former Ridgway Country Club property. The plan is about to be submitted to the city.

Hockley in a prepared statement, said he was running for the people of this city, that then he is running as and it truly independent quote not beholden to any political party.

On Ridgeway he was asked how he would stop FASNY building there. Hockley said he had a few alternatives to offer which he would reveal when he became mayor.

Asked to evaluate his two adversaries for mayor: Tom Roach, the Democrat and Common Council President, now Acting Mayor, and Bob Hyland, the Republican nominee,. Hockley, analyzed them this way. “One (Hyland) has business experience; the other (Roach) has administrative experience and I have both,” Hockley said.

Dan Pagano, Mr. Hockley’s attorney told WPCNR that the Board of Elections has three days to raise any objections to Mr. Hockley’s petitions. Mr. Hockley has three days after objections are filed by the Board to counter the objections, if any, are made.

Pagano said that if Mr. Hockley was taken off the ballot by the Board of Elections. Hockley, could file a temporary restraining order, which Pagano said, could delay the election scheduled for March 31, 2011.

Hockley said petitions were mandatory for him to be placed on the ballot because he was not endorsed by an officially recognized political party.

With News 12 camera rolling, Hockley submitted his signatures to Board of Elections, cochairman, Reginald LaFayette (above). LaFayette said to the television cameras and this reporter Hockley had all the documents he needed, including a certificate of acceptance, which Hockley’s failure to turn in, in August of 2009 resulted in his being forced off the 2009 Mayoral ballot and into a 8-month federal court case which Hockley lost. Hockley was forced to mount a write-in campaign for Mayor in 2009, in which he received 1,791 votes as opposed to former Mayor Adam Bradley’s over 6,000 votes.

Upon successfully delivering his petitions, Hockley thanked supporters outside the Board of Elections. Stating that “nothing has taken or will ever take” his focus off the “well-being of our citizens,” Hockley stressed the importance of reducing taxes without sacrificing public safety or city services.

Capitalizing on his reputation for standing “for and with the people, unencumbered by political harnesses,” Hockley proposed, “This is our chance to define ourselves as independent, forward-thinking people sculpting a new city of fulfilled promise and achieved potential,” adding, “This is our chance to get it right!”

Conservative Flip Flop

Hockley had thought he had the Conservative Party endorsement for this Special Election last Friday. He was informed by the CitizeNetReporter that Hugh Fox, Conservative Party head had called this reporter to say the Conservatives had thrown their support to Hyland instead.Hugh Fox, the chairman of the Conservative Party, and county employee, had apparently reneged on his original written promise to endorse Hockley, and switched his endorsement to Mr. Hyland, the Republican, instead against the wishes of the White Plains Conservative Party.

Asked in a news conference if he had any idea of what happened between his (Hockley’s) being told he had the conservative endorsement and him losing the conservative endorsement Hockley said it was in the past and he was moving forward. He said he had no idea why that happened.

COUNTY CONSERVATIVE LEADERS REJECT HOCKLEY NOD. GIVES LINE TO HYLAND

Posted on March 11, 2011 by John Bailey

WPCNR Campaign 2011 Backroom Bulletin by John F Bailey. March 11, 2011:

Hugh Fox, the Chairman of the Westchester County Conservative party personally contacted WPCNR at 5:15 this afternoon to report that the County Conservative Party leadership has rejected the local White Plains Conservative Party endorsement of Glen Hockley and has endorsed Republican Bob Hyland for mayor instead.

This means that Mr. Hockley will not appear on two lines in the Thursday, March 31 election for Mayor as Mr. Hockley had informed WPCNR at 9:15 Friday morning.

Mr. Fox said that the County conservative committee is within its right in going against the local party chapter recommendation. Fox said the County Committee will consider recommendations from the local conservative parties for candidates, but they always reserve the right to endorse their own candidate.

Mr. Fox said that the decision to spurn Hockley was made this morning. This was apparently after Mr. Hockley had confirmed that he was going to be on the Conservative line to this reporter this morning. Ar. Hockley also sent out a press release reporting he was endorsed by the Conservative Party.

Fox did not say why the County committee decided to endorse Mr. Hyland, instead. Before WPCNR could ask the question as to why Hyland got the nomination, Mr. Fox had ended the call, and could not be reached for further comment as to why the switch.

The sudden switch on the County conservative party leadership level means Mr. Hockley now must rely on his petitions to appear on the ballot for the March 31 election on his People Over Politics party line.

Fox said that Mike Chillemi, Hockley’s campaign manager was well aware that the county committee could reverse the local endorsement.

Hockley Confirms he Has Received the Endorsement of the Conservative Party for M

Posted on March 11, 2011 by John Bailey

WPCNR Campaign 2011. By John F Bailey. March 11, 2011:

Former Councilman Glen Hockley confirmed to WPCNR he has received the endorsement of the Conservative Party of White Plains for mayor. Hockley said this would give him two lines on the Thursday, March 31 election ballot: the Conservative line and his own People over Politics, wine. Hockley said his next step was to file his petitions on Monday at the board of elections.

In a news release this morning, Hockley announced he would kick off his campaign for Mayor with a news conference at 11 A.M. Monday at the Westchester County Board of Elections.

Mr. Hockley said he would be kicking off this campaign on Monday morning for mayor. The election will be held Thursday, March 31 in each of the 43 districts across the city of White Plains.

Asked what he brought to the campaign and felt White Plains needed. Hockley told WPCNR, he would concentrate on tax relief. He said he had a plan to do something about parking in White Plains to make parking more consumer friendly. He also said he wanted to make the city business climate, more friendly to business. Hockley said his campaign owed nothing to no one, and that he was only accountable to the people.

In an official news release from the Campaign, Hockley called for “renewed focus on the future of White Plains, it’s time to put the people first — not politics,” he said. “It’s time for reasonable and rational action today that leads to a more prosperous and successful tomorrow.”

Hockley recently accepted the endorsement of the Conservative Party, while continuing his independent bid on the People Over Politics ticket. “I’m grateful to the Conservative Party for its appreciation of my contributions to this City, and for its confidence in my leadership,” he said. “Today, as always, my focus is on the burden of our taxpayers and their concerns,” Hockley said.

In October 2009, Hockley’s People Over Politics launched a write-in campaign only two weeks before Election Day and won close to 2,000 votes,(1,791) surprising many pundits in a city unaccustomed to the write-in ballot.

Since then, the release said, the independent party has retained its volunteers, stayed organized and focused on the City’s economic recovery. “We were heartened by the strong support we received in the last election and our numbers have been steadily growing this past year,” Hockley stated. “I think people are sick of political posturing and are starving for some basic common sense and efficiency in city government,” he added.

Campaign volunteer Jamie Baker-Price quoted by the release, recalled what she says is key to her dedication to Hockley’s campaign. “Last week during an organizational meeting, Glen summed up what, to me, it’s all about. He said, ‘If we strip away the politics, we are left with each other standing eye to eye and discovering what connects us as humans and neighbors.’ He said, ‘It’s time for politicians to become people again.’ I think the whole world would benefit from that thinking,” she added.

On Monday March 14 at 11am, Hockley will kick off his campaign with a speech in front of the Westchester County Board of Elections, “to share my hopes for White Plains and outline objectives and goals for our future,” he said. “For at least a decade, I’ve engaged in my “walk-abouts” — meeting and talking to citizens and merchants on every single street in White Plains. I know the concerns of residents and businesspeople in every neighborhood and the success they deserve. My candidacy for Mayor is all about them.”

Roach Nominated by Dems. Hyland by Republicans. Hockley Conservatives

Posted on March 10, 2011 by John Bailey

WPCNR Campaign 2011, Special to WPCNR.. March 10, 2011 UPDATED 2:15 PM EST:

The district leader on the scene tonight at the meeting of the Democratic city committee of White Plains at the YWCA reports tonight that Tom Roach was unanimously endorsed by all district leaders to be the Democratic party candidate for mayor in the special election coming up Thursday, March 31, 2011. The election is to fill the remaining 2 1/2 years of resigned Adam Bradley’ mayoral term through 2013.

The observer said after Liz Shollenberger, the Democratic City Chairperson opened the meeting,asked the three potential candidates for mayor, Mr. Roach, County Legislator Bill Ryan and Councilperson Benjamin Boykin to say a few words.

Mr. Ryan stunned the crowd, saying that he was going to step aside in favor of Mr. Roach, that “it was not his (Ryan’s) time.”

Mr. Boykin followed suit. He spoke of his accomplishments and ability to become the mayor, but again said he would step aside for Mr. Roach’s candidacy.

Mr. Roach our observer reported was very gracious and accepting the bowing out of the race, remarking how he had worked with Ryan and Boykin and had learned much from them.

District leaders voted unanimously to name Tom Roach their standard bearer in the first special election in White Plains political history. Our correspondent told WPCNR Mr. Roach was unaware that Mr. Boykin and Mr. Ryan were going to step aside before the meeting began. Every district leader, came prepared to vote the observer said.

Hyland receives Republican Bid.

Matthew Richter, spokesperson for Republican candidate for mayor Bob Hyland, said that Mr. Hyland was indeed dominated by the Republican party Thursday evening, and that Hyland would kick off his campaign at 11 A.M. Saturday morning at 214 Mamaroneck Avenue, Republican Headquarters.

Hockley Conservative Choice

WPCNR has learned from another source that Glenn Hockley, the independent candidate for mayor who was kept off the ballot in 2009 by a board of elections decision for failing to file a Certificate of acceptance, and garnered approximately 1,791 votes as a write in candidate has snagged the Conservative party endorsement, giving Hockley two slots on the Thursday March 31 ballot. Hockley confirmed this to WPCNR by telephone Friday morning. He will start his campaign Monday at 11 A.M. with a news conference at the Board of Elections

Roach Collects Independence, Working Families lines.

WPCNR has also learned that Mr. Roach has also received the Independence party and the Working Families Party endorsements for mayor giving Mr. Roach three lines. Mr. Hockley one, line, and Mr. Hyland one line, however, we’ll have to Conservative party decision has to be confirmed.

The special election now swings into a 20 day campaign, which will be highlighted by a debate on March 23 at the Ridgeway school sponsored by the Council of Neighborhood Associations, which would feature all three candidates at this time.

Hyland Expected to be Nominated for Mayor. Hockley Raising Funds

Posted on March 10, 2011 by John Bailey

WPCNR campaign 2011: special to WPCNR from Matt Richter, the Republican Party, March 10, 2011:

Bob Hyland, the owner of the sports pub for many years in Westchester County. Previously, a candidate for County legislator has announced he is running for mayor of White Plains in the special election to be held March 11. He is expected to be nominated by the Republican party, which meets in convention this evening.

Mr. Hyland issued this statement through spokesperson, Matt Richter:

Over the last year, I along with my neighbors and friends throughout White Plains have watched with sadness as our city government has shown an absence of leadership and character that included legal and ethical charges and ultimately resulted in the resignation of the Mayor.

Today I am announcing that I am seeking the support of the people of White Plains in my effort to become the next Mayor of this great city and to restore the principles of fiscal responsibility, smart development, and strong character that the citizens of White Plains deserve. While I may be an Independent, my campaign will welcome the support of anyone who choses to join my effort to restore integrity and common sense to White Plains City Hall.

I have been a lifelong resident of White Plains. I’ve raised my family here, I’ve built my businesses here and I believe now is the time for me to give back to my hometown and ensure that our children and grandchildren will be as proud to call White Plains home as I have been.

********

Meanwhile, in another part of town this evening Glen Hockley will be holding a fundraiser at Prophecy restaurant announcing his can see as an independent in the March 31 election.

And, at the YWCA, the Democratic Party will be deciding its candidate for Mayor.

Washington: Tom Roach Not Violating Hatch Act by Running for Mayor

Posted on March 10, 2011 by John Bailey

WPCNR Common Council Chronicle Examiner special to WPCNR from the Mayor’s Office, March 10, 2011:

The mayor’s office today announced that the US Office of Special Counsel in Washington, D.C., has issued a ruling on Council President Tom Roach’s eligibility to run for mayor in regard to the provisions of the Hatch Act.

The office reporting from Washington today said Mr. Roach is completely eligible to run for mayor in view of the Hatch Act. Mr. Roach, the acting mayor of White Plains and Counsel president said in a statement:

“I am pleased that the office of special counsel issued their decision so swiftly and confirmed my position so completely. Hopefully, the Republican Party will cease this baseless political maneuvering and join me in focusing on the real issues facing our city and its residents.”

At the time the Republican party raised this issue, the BPC Adar, and the White Plains week television channel pointed out that the Hatch act did not apply because Mr. roach was an elected official.

The Republican Party in a letter to the media charged Mr. Roach was in violation of the Hatch Act, but did not file any injunctions asking the court to stop the special election of March 31..

In a letter to Mr. Roach of March 7 made public today, . Anna Galindo– Marrone, Chief of the Hatch Act Unit of the US Office of Special Counsel, Washington, DC wrote:

“generally, an employee covered by the act may not, among other things, be a candidate for public office in a partisan election, I E, an election in which any candidate represents for example, the Republican or Democratic Party. However, the act specifically exempts certain state and local employees from prohibition against being a candidate for public office in a partisan election individuals whose principal employment is an elective office are among those persons were exempt from this prohibition.”

“Thus, when an individual is subject to the restrictions of the Hatch act by virtue of an elective office he holds, this exemption applies and the individual is not prohibited from being a candidate in a partisan election for an example, an elected Sheriff covered by the Hatch act by virtue of his position as a sheriff would not be prohibited from running for reelection, or otherwise being a candidate in a partisan election.”

Ms. Galindo – Morrone quotes the city charter, paragraph 46, pointing out that when the the president of the common Council shall act as mayor and possess all the rights of man, etc. Ms. Galindo Morrone writes “in addition to performing the duties of Council President, you are serving as the acting mayor until the vacancy is filled as provided by law. However, your current salary from the city is in accordance with your position. The Council President. Additionally, the city charter provides that such a person who acts as mayor shall be the acting mayor until the vacancy no longer exists. It is axiomatic that although you generally possess the powers and rights of marriage. You do not hold the office of mayor. Therefore, your principal employment for purposes of the Hatch act is as Council President and your coverage under the act is determined in accordance with that position because your position on the council is an elective office.”

“Even assuming you are covered by the Hatch act in that position. You would be exempt from the act’s prohibition against being a candidate for public office in a partisan election while employed on the Council. Accordingly, the Hatch act does not prohibit you from being a candidate in the partisan election for mayor of White Plains, New York. While employed on the council therefore, we are closing the file on this matter, with no further action,”

EX-NYPD OFFICER SENTENCED TO 21 YEARS FOR TRANSPORTING MINORS X STATELINES FOR L

Posted on March 7, 2011 by John Bailey

WPCNR POLICE GAZETTE. Special to WPCNR from the Federal Bureau of Investigation. March 7,2011:

PREET BHARARA, the United States Attorney for the Southern District of New York, announced today that United States District Judge KENNETH M. KARAS sentenced TRENT YOUNG, 42, a former New York City police officer, to 262 months’ imprisonment for his transportation of three different minors across state lines for purposes of engaging in illegal sexual activity. The sentencing took place at the prison ward of the Westchester Medical Center, where YOUNG is being treated for a terminal illness.

According to the charges in the indictment to which YOUNG pled guilty and statements made in court at the guilty plea proceeding on July 2009 and at the sentencing today:

YOUNG operated a martial arts studio out of his home in Middletown, New York. In or about the Spring of 2006, YOUNG opened “Iron Tiger Martial Arts” (“Iron Tiger”), a martial arts studio in West Milford, New Jersey. On an occasion in or about October or November 2006, Young brought a 14-year-old minor from Middletown to Iron Tiger and engaged in sexual intercourse with her. In or about November or December 2006, Young brought a second minor, who was then 16 years old, to Iron Tiger and engaged in sexual intercourse with her as well.

Prior to these indictments, in or about April 2003, YOUNG drove another 14-year-old minor from her home in Brooklyn, New York, to YOUNG’s home in Middletown, New York, traveling through New Jersey, and engaged in sexual intercourse with her.

In pleading guilty, YOUNG admitted that he transported each of the three minors across state lines for the purpose of engaging in sexual activity and that, after transporting the minors across state lines, he engaged in sexual intercourse with each of them. He also admitted that he exercised supervisory control over each of the three minors.

Following his arrest in January 2008, YOUNG was detained without bail.

In imposing the 262-month sentence on YOUNG, Judge KARAS underscored that the “extraordinarily high” sentence was appropriate in light of what YOUNG did to the girls he chose as his victims. According to KARAS, the “magnitude of the conduct here outweighs the medical issues” faced by YOUNG.

Mr. BHARARA praised the efforts and assistance of the FBI, the Middletown Police Department, the Orange County District Attorney’s Office, the Rockland County Sheriff’s Department, the West Milford, New Jersey, Police Department, and the Passaic County Prosecutor’s Office.

The prosecution is being handled by the Office’s White Plains Division. Assistant United States Attorney MARCIA S. COHEN is in charge of the prosecution.

Investment Fraud Case Results in Guilty Plea

Posted on March 6, 2011 by John Bailey

WPCNR POLICE GAZETTE. Special to WPCNR from the Federal Bureau of Investigation. March 6,2011:

PREET BHARARA, the United States Attorney for the Southern District of New York, announced recently that STEPHEN SHEA, the former chief operating officer at Sky Capital, LLC, has pled guilty in Manhattan federal court in connection with a scheme to defraud investors through two successive securities broker-dealers—The Thornwater Company, L.P. (“Thornwater”), and Sky Capital, LLC.

According to the superseding indictment to which SHEA pled guilty, and statements made during the guilty plea proceedings before U.S. District Judge PAUL A. CROTTY:

From 1998 through 2006, SHEA participated in a scheme with ROSS MANDELL, ADAM HARRINGTON, and others to defraud investors through material misrepresentations and omissions that induced people to invest in private placements and other purported securities investment opportunities. In fact, investor funds were substantially used to enrich the defendants and others; to pay excessive, undisclosed commissions to brokers; and to pay off victims who had lost money through prior purported investment opportunities.

In connection with the scheme, brokers, acting primarily from the offices of Thornwater and Sky Capital, LLC, in New York, New York, raised a total of approximately $140 million from investors. MANDELL allegedly controlled the operations of both broker-dealers.

As part of the scheme, brokers at Sky Capital, LLC, manipulated the market price of the stock of two affiliated entities, Sky Capital Holdings Ltd., and Sky Capital Enterprises Inc. (collectively “Sky Capital”). SHEA and others directed the market manipulation of Sky Capital stocks by enforcing a “no-net sales” policy designed to inflate the price of Sky Capital stocks. SHEA, and allegedly MANDELL and HARRINGTON, made undisclosed payments to Sky Capital brokers in exchange for their assistance with this aspect of the scheme.

* * *

SHEA, 38, of Brooklyn, New York, pled guilty to conspiracy and securities fraud charges. The conspiracy count carries a maximum sentence of five years in prison, and the securities fraud count carries a maximum sentence of 20 years in prison. SHEA faces a maximum fine of $250,000, or twice the gross gain or loss from the offense on the conspiracy count, and a maximum fine of $5 million on the securities fraud count. SHEA also faces mandatory restitution to the victims of his crimes. The charges against MANDELL and HARRINGTON remain pending and are merely accusations. They are presumed innocent unless and until proven guilty.

* * *

Mr. BHARARA praised the investigative work of the Federal Bureau of Investigation. He thanked the U.S. Securities and Exchange Commission for its assistance in this matter.

This case was brought in coordination with President BARACK OBAMA’s Financial Fraud Enforcement Task Force, on which Mr. BHARARA serves as a co-chair of the Securities and Commodities Fraud Working Group. President OBAMA established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes.

The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.