| For Inflating Earnings at
Pareteum Bozzo Gets Year and a Day
With Fort Dix Recommended
by
Matthew Russell Lee, Patreon Book
Substack
SDNY
COURTHOUSE,
Aug 26 – Victor Bozzo was
indicted in 2023 for inflating
profit reports at Pareteum, a
publicly traded telecom
company, in 2018 and 2019. He
pled guilty and remained free
on $250,000 bond, working a
job that paid him one-third of
what he used to earn.
On August
26, 2024 he was up for
sentencing before U.S.
District Court for the
Southern District of New York
Judge Amit Subramanian. Inner
City Press was there - thread:
AUSA: We
recommend 2 to 3 years in
prison. Judge: Is a range
appropriate under 3553(a)? And
what about the 12 month
sentence on [Pete] Petit?
[Note: Pete Petit still has a
stadium named after him]
Defense lawyer:
The penalties on him include
the six figures my law firm
has charged, and stress. Four
banks have closed this
account, as have 5 credit card
issuers. Prison is not
needed.
Defendant: Thanks
Your Honor for allowing me to
continue to work. I am sorry
[voice cracks] I want to work
on telecom to the
disadvantaged. Judge: 5 minute
recess.
Then: Judge:
There was a market cap loss of
$50 million. I sentence you to
a year and a day of
incarceration.
Bozzo's
defense counsel, who said she
had a similar recent
sentencing before SDNY Judge
Jed S. Rakoff, asked for
designation to Fort Dix, and
RDAP. Judge Subramian said he
would agree to both and
included them in the judgment,
though the RDAP determination,
he added, would be up to BOP.
And Fort Dix?
The case is US v.
Bozzo, 23-cr-499 (Subramanian)
***
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