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In SDNY Jason Galanis Got 189 Months Now Morton Gets 15 Delayed For Defrauding Tribes

By Matthew Russell Lee

SDNY COURTHOUSE, Nov 18 – When repeat fraudster John Galanis was sentenced on March 8, 2019 in the U.S. District Court for the Southern District of New York for swindling a Native American tribal entity, the Wakpamni Lake Community Corporation, he was ordered to pay over $43 million in restitution.

It was ironic, because part of Galanis' argument against the 10 years of imprisonment he was also sentenced to was that the U.S. Bureau of Prison has refused or been unable to get him a pair of orthopedic shoes, leaving him in a wheelchair.

So a man without shoes is billed $43 million - and he is already 75 years ago.

On November 18, 2020, SDNY Judge Ronnie Abrams had before her for sentencing in the same case Michelle Morton, whose lawyer described how she has wanted to help Native Americans.

At issue was relative culpability. While Morton is jointly and severally liable for the $43 million - her lawyers called it academic, then explained they meant she does not have the money - Judge Abrams decided on a sentence of 15 months, to being on May 18 or later is the COVID pandemic is still active on the Burea of Prisons. We note that Morton's sentencing submissions were heavily redacted, in some cases absurdly so.

  Earlier on Galanis, Judge Abrams focused on his age, that he had committed two of his four frauds in his late sixties and early seventies. Galanis on the other hand blamed it on his son Jason; his lawyer said he had really meant to help the tribe. There was no one in the courtroom to make a victim's statement. There were two marshals to wheel Galanis away, ultimately to the Bureau of Prisons' Terminal Island facility near Los Angeles. Terminal indeed.

Now on September 24, 2020, this: "JASON GALANIS was sentenced to 189 months in prison for his participation in multiple fraudulent schemes.  In particular, GALANIS was sentenced for his role in a scheme to manipulate the market for Gerova Financial Group, Ltd. (“Gerova”), a publicly traded company listed on the New York Stock Exchange, and defrauding the shareholders of that company (the “Gerova Scheme”), and for defrauding the clients of an investment advisory firm.  GALANIS was also sentenced for his role in a scheme to defraud a Native American tribal entity and the investing public of tens of millions of dollars in connection with the issuance of bonds by the tribal entity (the “Tribal Bond Scheme”).  GALANIS pled guilty on January 31, 2020, to a seven-count information charging GALANIS with participation in the Gerova and Tribal Bond Schemes.  GALANIS was sentenced today by United States District Judge P. Kevin Castel... In addition to the prison term, JASON GALANIS, 50, was sentenced to three years of supervised release.  GALANIS was also ordered to forfeit $80,869,117.10, as well as his interest in properties in New York and Los Angeles, and to make restitution in the amount of $80,817,513.43."

This case is US v. Galanis et al., 15-cr-643 (Castel)



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