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Fraudster Cardak Pled to 60 Months & $350K As BofA Wanted $10M Now Bernardi 5 Years

By Matthew Russell Lee, Patreon Maxwell Book

SDNY COURTHOUSE, Jan 24 – Fraudster Robert Bernardi pled guilty on August 17, 2022 to securities fraud, bank fraud and wire fraud - but not aggravated identity theft - in connection with bankrupt email security company GigaMedia Access Corporation.

 Inner City Press live tweeted his change of plea, here and below. Immediately after the plea, his co-defendant Nihat Cardak had a pre-trial proceeding. They were going forward, they said - until they didn't.

   The proceedings were before U.S. District Court for the Southern District of New York Judge Paul G. Gardephe. He ran through the elements; the AUSA asked that he specify the the wire fraud involved a bank. Inner City Press understands the bank that asked for the $10 million deposit to be Bank of America.   He pled to 121 months.

On January 24, 2023, Bernardi got five years (60 months) - "ROBERT BERNARDI, the founder and former Chief Executive Officer of the Virginia-based email security company GigaMedia Access Corporation, d/b/a GigaTrust (“GigaTrust”), was sentenced to five years in prison by United States District Judge Paul G. Gardephe."

 JOn January 12, 2023, co-defendant Cardak came before Judge Gardephe to take a plea, and a deal. Inner City Press was again there, and is publishing the 60 month plea agreement on Patreon here.

Cardak's sentencing date is May 16 at 3 pm.

 The August 2022 thread:  

Judge Gardephe : it's securities fraud, bank fraud, and wire fraud, 30 year max. I have a copy of the plea agreement, 121 months or less, you can't appeal. 

Bernardi: Beginning in 2016 we began to use false GigaTrust financial statements. A bank demanded a $10 million deposit. I used wires to lie.

Sentencing is Dec 15, 2 pm. 

Update: Same case, Bernardi's co-defendants Nihat Cardak and Sunil Chandra will be proceeding to trial, at least for now.

 Chandra has been permitted to phone in to this proceeding. Does that mean we can / could?

The case is US v. Bernardi, et al., 21-cr-616 (Gardephe)  


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