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Velassaris After Arrest Still Worked at Infinity Q Capital Now Changes Counsel for Sentencing

By Matthew Russell Lee, Patreon Maxwell Book
BBC - Guardian UK - Honduras - ESPN

SDNY COURTHOUSE, March 10 – In the U.S. District Court for the Southern District of New York on February 25, 2022 a presentment and bond hearing was held by  Judge Denise L. Cote on James Velissaris. Inner City Press live tweeted here:

now in US v. JAMES VELISSARIS, founder of Infinity Q Capital Management the defendant's new law firm (Arnold & Porter) says they have a novel view different than previous counsel (Gibson Dunn) so want trial in Feb 2023.

Judge Cote picks Nov 28, 2022 Velissaris' lawyer says Velissaris is still employed by Infinity Q.

Judge asks, How, if he's to have no contact?

  A bond was agreed to, of $3 million with travel restricted to the SDNY, EDNY NJ and Las Vegas. The US Attorney's Office said "VELISSARIS defrauded Infinity Q’s investors by taking an active role in the valuation of Infinity Q’s positions, and by modeling the positions in ways that were not based on the actual terms of the underlying contracts and were inconsistent with fair value.  VELISSARIS’ input into the BVAL valuation process was inconsistent with Infinity Q’s representations about the independence of the process and allowed VELISSARIS to fraudulently mismark positions in BVAL."

Jump cut to March 10, 2023 - after Velissaris pled guilty, weeks before sentencing he wanted to change lawyers. Inner City Press was there in the courtroom. Judge Cote initially denied the motion, citing a request for 60 days delay. That was reduced to 30 days, and approved. The sentencing will be on April 7 at 3 pm.

     The case is US v. Velissaris, 22-cr-105 (Cote)



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