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In Russian Money Laundering Case Jain Got 3 Months Now Wants Otisville Not MDC

By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - The Source

SDNY COURTHOUSE, March 22 –  Niket Jain of Aberon Capital, charged with securities fraud, on August 12, 2020 got a rare in-person hearing before U.S. District Court for the Southern District of New York Judge P. Kevin Castel. Inner City Press went and covered it, as one of five people in the gallery including Assistant US Attorneys. 

  Jain's lawyer Weinstein said his client was a pawn of a Russian organized crime figure and that the US withheld info.

He called a Special Agent, then AUSA Tara LaMorte who testified behind an opaque face shield.

Weinstein asked the agent, The 16 cases you worked on, was there always an AUSA assigned? 

Agent: Yes. 

Weinstein: What percentage were in SDNY? 

Judge Castel: What percentage of 16? Or the number? 

Weinstein: Number. Agent: Maybe ten. 

Weinstein by early afternoon was still questioning the agent, now about his 302s and "a house owned by Vladimir Putin"

Judge Castel asked, Where is this going? I'll allow you to sum up.

 Weinstein: This is why I was asking in advance for a post-hearing briefing schedule. 

 And he did finish with the two witnesses by 5 pm. Inner City Press said it would  continue to cover this case, and it has: Jain has been sentenced to three (3) months: "JUDGMENT In A Criminal Case. Date of Imposition of Judgment: 3/2/2021. Defendant Niket Jain (1) pleaded guilty to Count(s) 4. Count(s) 1, 2, 3 are dismissed on the motion of the United States. IMPRISONMENT: Three (3) months. The court makes the following recommendations to the Bureau of Prisons: The defendant served as close as possible to New York City to facilitate family visitation. - The defendant shall surrender for service of sentence at the institution designated by the Bureau of Prisons: before 2 p.m. on 9/14/2021. SUPERVISED RELEASE: One (1) year. Standard Conditions of Supervision (See page 4 of Judgment). Special Conditions of Supervision (See page 5 of Judgment). ASSESSMENT: $100.00, due immediately. FINE: $15,000.00. Special instructions regarding the payment of criminal monetary penalties: The fine of $15,000 shall be paid in full 180 days from the date of Judgment. (Signed by Judge P. Kevin Castel on 3/2/2021)."

 On March 22, with surrender to the MDC looming, this: "ENDORSED LETTER as to Niket Jain addressed to Judge P. Kevin Castel from Niket Jain dated 3/22/22 re: I will begin serving my three-month incarceration within next 30 days. I recently was concerned to find I was designated to the MDC in Brooklyn by my pretrial officer. I am pleading with the court for a recommendation to the BOP to be re-designated to FCI Otisville, for which reasons I outline below....ENDORSEMENT: The designation of the place of incarceration is the prerogative of the Bureau of Prisons. The Court belatedly recommends FCI Otisville, but it is only a recommendation. Mr. Jain is free to pass this on to the BOP. SO ORDERED. (Signed by Judge P. Kevin Castel on 3/22/22)."

This case is US v. Jain, 19-cr-59 (Castel) 


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