| Tax Fraudster and Absconder
David Smith Is Sentenced to 3 Years and $7
Million in 120 Days
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- The
Source
SDNY COURTHOUSE,
June 8 – David L. Smith was
indicted in 2008 for tax
shelter fraud. He ultimately
fled to Canada, from which he
was extradited in 2019. On
June 8, U.S. District Court
for the Southern District of
New York Judge Sidney H. Stein
held a sentencing, which Inner
City Press
covered.
Notably, Smith
spoke for himself, saying he
sent Judge Stein a letter on
May 18.
Judge Stein said
he had not received it, and
asked Smith's Federal Defender
if she was pushing these
objections.
The Federal
Defender said, correctly, Yes,
I support what he has written
in his letter.
Then Smith read
out his May 18 letter, about
his communications with the
IRS while working at Merrill
Lynch. "Each swap transaction
had a counter party, like
UBS." He said, "I'll
paraphrase because the letter
is kind of
long."
Smith says he got
legal letters from Skadden,
Cravath, Cleary... As to
another company he said, "The
CEO was a pig.. he was charged
with sexual
harassment."
Judge Stein
asked, Are you seeking a
Fatico hearing?
The answer was
no. But then the Federal
Defender began to describe
conditions in the MCC, vermin
infected, infinite
lockdowns.
Judge Stein cut
in: One of my recommendations
to BOP is going to be to
transfer him to a facility
"more appropriate for his
crime."
The Federal
Defender argued, This would-be
tax evader does not need
another day in
prison.
Judge Stein
disagreed, sentencing Smith to
36 months and one year of
supervised release, and to
paying $7 million in 120 days.
He ran through payment he said
Smith has received, and noted
that he agreed not to appeal
this level of payments.
The overall case
is US v. Coplan, 07-cr-453
(Stein); this part is US v.
Smith, 07-cr-453-5
(Stein).
***
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