Inner City Press

In Other Media-eg New Statesman, AJE, FP, Georgia, NYTAzerbaijan, CSM Click here to contact us     .

These reports are usually available through Google News and on Lexis-Nexis

Share |   

Follow on TWITTER
SDNY tweets
MRL on Patreon

Home -

These reports are usually available through Google News and on Lexis-Nexis


(FP Twitterati 100, 2013)

ICP on YouTube
Sept 24, 2013

UN: Sri Lanka


FOIA Finds  

Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

Support this work by buying this book

Click on cover for secure site orders

also includes "Toxic Credit in the Global Inner City"




Bank Beat

Freedom of Information

How to Contact Us

Montroll Who Pled Guilty After Bitcoin Business Hacked Now Loses On Restitution But Not Interest

By Matthew Russell Lee, Previous Thread
The Source - XXL - The Root - Vibe, etc

SDNY COURTHOUSE, Oct 22 – Jon Montroll pled guilty to securities fraud and obstruction of justice charges in connection with his bitcoin business through, and was sentenced to 14 months in prison.

   But on October 22, more than the normal 90 day limit after sentencing, the issue of restitution has still not been finalized.   In the otherwise empty courtroom of U.S. District Court for the Southern District of New York Judge Richard M. Berman, Montroll's lawyer Daniel L. Levy of McKool Smith argued first for a lower restitution amount, then that interest be waved.

    He prevailed only on the latter, with the consent of Assistant US Attorney Andrew Thomas.

   On restitution, Judge Berman set a figure of $155,573.53, citing the September 10 testimony of SEC Senior Accountant Daphne Downes when she said "the hackers first began withdrawing funds that didnt belong to them... on July 28, 2013."

   Montroll's lawyer Levy argued that it was the hack, not Montroll's failure to disclose it, that prevented redemption of the Ukyo loans purchased before the hack.

  That argument did not prevail, but his insistance on raise the issue of interest ultimately did.

    By the elevators outside Judge Berman's courtroom Inner City Press remaked to Levy, You just kept punching.

   Levy replied, with Montroll beside him in a gray shirt without a tie, "I got it in."   

   Montroll will self-surrender for his 14 month prison term on October 28. Judge Berman has recommended the FCI camp facility Balstrop or the FCI camp facility Texarkana, both in Texas. The case is US v. Montroll, 18-cr-520 (Berman).


Feedback: Editorial [at]

Box 20047, Dag Hammarskjold Station NY NY 10017

Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.

 Copyright 2006-2019 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at] for