| COBA Reiterates Jona Rechnitz
Owes It $12M As He Argues for $1M
Claiming Ignorance
By Matthew
Russell Lee, Patreon Thread Letter
SDNY COURTHOUSE,
Sept 16 – When government
cooperator Jona Rechnitz came
up for sentencing for
defrauding among others the
NYC Correction Officers'
annuity fund on December 19,
2019 before U.S. District
Court for the Southern
District of New York Judge
Alvin K. Hellerstein,
Assistant US Attorney Martin
Bell urged
leniency.
Bell said that so
that Rechnitz can continue to
pay restitution, he should
remain free in order to keep
selling jewelry to the
Kardashians.
In
February 2020 Rechnitz was
sued in California for fraud.
Inner City Press published the
complaint on Scribd here,
and for download on Patreon here.
On July
26, 2023, after appeal the
Second Circuit ruled that the
case should be reassigned, as
"the judge's relationship with
[Andrew] Kaplan was
sufficiently close... that a
reasonable person would have
questioned the district
court's impartiality."
Thereupon, Rechnitz'
counsel wrote it suggesting
his case be reassigned to
Judge Carter, or Judge Wood or
Liman. It was reassigned to
Judge Katherine Polk Failla.
On August 2024,
resentencing and restitution
were bifurcated: "as to Jona
Rechnitz, the Court hereby
ADJOURNS Defendant's
sentencing to November 20,
2024. The parties are hereby
ORDERED to submit opening
briefs on the restitution
issue on or before August 30,
2024. Any responsive briefs
shall be filed on or before
September 16, 2024. Finally,
the parties are hereby ORDERED
to appear for a hearing on the
restitution issue on October
9, 2024, at 11:00
On August 30, the
US Attorney's Office and COBA
said the $12 million should be
ordered. Rechnitz through
counsel said restitution
should only be "$891,00
($1,206,00 minus $315,000 that
Mr. Rechnitz has already paid
the victim."
On September 16,
COBA's Reply memo chided
Rechnitz for claiming
ignorance and even
impoverishment; "having skin
in a rigged game does not
imply good faith."
Watch this site.
***
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