| In SDNY Guagliardo Admitted
Embezzled MCU Gets 27 Months Dodges on Kam
Wong
By Matthew
Russell Lee, Patreon
BBC
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SDNY COURTHOUSE,
July 23 – In October 2019
Joseph Guagliardo was arrested
and presented on a six count
complaint centered around
stealing from the Municipal
Credit Union, where he was a
member of the Supervisory
Committee.
On January 10,
2020 Guagliardo showed up to
plead guilty to reduced
charges, a single count,
embezzlement from from a
credit union.
But it was allocution
interruptus: when U.S.
District Court for the
Southern District of New York
Judge Denise L. Cote asked if
he had known it was wrong, he
replied, Not at the time.
Judge Cote said she could not
accept a guilty plea like
this. Guagliardo and his
lawyer went into a side room
and Judge Cote continued with
a re-sentencing (with the
defendant not in the room, and
re-sentenced to 30 years) and
a Fair Housing Act
case.
Finally Guagliardo returned
and his lawyer explained that
he was saying it didn't know
of the wider fraud at MCU, by
then CEO Kam Wong. While one
might ask, what was the
purpose of the Supervisory
Committee and about the
applicability of the Sarbanes
Oxley law, this changed story
worked for Judge Cote.
Guagliardo's guilty plea was
accepted and his sentencing
was scheduled for April 10 at
2:30 pm. But that was canceled
by COVID-19; the July 23
sentencing listed an URL for
participant but not,
apparently, any call-in number
for the press or public.
Everything is a work in
progress, in good faith.
Later, this was announced:
"Joseph Guagliardo, a/k/a
“Joseph Gagliardo,” a former
New York City Police
Department (“NYPD”) officer
and former member of the
supervisory committee (the
“Supervisory Committee”) of
Municipal Credit Union
(“MCU”), a non-profit
financial institution, was
sentenced today in Manhattan
federal court to 27 months in
prison for abusing his
leadership position at MCU to
embezzle more than
$400,000. Guagliardo
previously pled guilty to
defrauding a federally insured
credit union."
The case
is US v. Guagliardo, 20-cr-23
(Cote).
***
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