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Park Avenue Bank Former Director Released On $500,000 Bond With Travel to Florida and Mental Evaluation

By Matthew Russell Lee, Patreon
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SDNY COURTHOUSE, Nov 12 –  Two defendants who allegedly defrauded Park Avenue Bank were presented and pled not guilty in U.S. District Court for the Southern District of New York Magistrate court on November 12, and were both quickly released on $500,000 bond each.

     Inner City Press was there, as were a number of the defendants' supporters and at least three privately retained lawyers including Benjamin Brafman.

    The US Attorney's Office announced the unsealing of an Indictment charging attorney Mendel Zilberberg, a former director of Park Avenue Bank and Aron Fried with bank fraud and related charges for perpetrating a fraudulent scheme to obtain a $1.4 million loan to a straw borrower on the basis of false statements and misrepresentations. Zilberberg was also separately charged with embezzlement and misappropriation of Bank funds while he was a director and insider of the Bank.

      Magistrate Judge Katharine A. Parker asked what time the defendants had been arrested. Assistant US Attorney Sagar K. Ravi said at 6 am; he has already summarized the terms of release to a pre-trial services offer.  

Judge Parker asked each man who he pled - not guilty - and then jotted down the terms of their release. For Zilberberg it was a $500,000 bond secured by his home in Moncey, New York, with mental health treatment as needed and travel to New Jersey and Florida.

     Fried didn't secure his $500,000 bond with property but rather three co-signers; he can travel also to the Eastern District of Pennsylvania. His lawyer, who had before Judge Parker began said with apparent sarcasm, Wait until you see the notorious violent criminals coming out, asked that the Marshals take his ankle irons off. This occured as the next presentment, of a defendant whose supporters down from The Bronx included a baby, was prepared.

   The case is US v. Zilberberg and Fried, 19-cr-802 (Daniels / Parker). The next appearance is set for December 3 at 10 am. Inner City Press will continue to follow this case


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