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In Trial of Former Iconix Neil Cole US Summation Cites Zoo York Yankee Stadium Vid, Catastrophic Fact

By Matthew Russell Lee, Patreon Song Vlog Podcast
BBC - Guardian UK - Honduras - The Source

SDNY COURTHOUSE, Oct 26 – Neil Cole, the brand manager charged with financial chicanery was freed on $1 million bond on December 5, 2019 and allowed to travel throughout the United States by agreement of the US Attorney's Office, contrary to the "SDNY and EDNY only" restrictions they routinely place on less affluent defendants.

SDNY Magistrate Judge Barbara Moses accepted the agreed bail conditions, and said that they can be appealed or asked to be modified before SDNY Judge Edgardo Ramos to whom the case was assigned.

On October 6, 2021, the jury trial began and Inner City Press live tweeted Day 1 here, podcast here, vlog here. On October 25, Cole himself took the stand, see below.

  On October 7, cooperator Seth Horowitz spend the whole day on the stand, still on direct. Inner City Press live tweeted here.

  On October 8, the cross examination of Horowitz began, doggedly. Inner City Press live tweeted here.

On October 12, after Columbus Day, the cross examination of Horowitz continued but did not finish. Inner City Press live tweeted here and below.

  On Sunday, October 17 the US Attorney's Office put in an argument for the admissibility of exhibits including Ethan Cole's e-mail to Jared Margolis about offsetting Iconix Korea with... Rocawear. Full contested exhibit on Patreon here.

  On Monday October 18 Cole's lawyers responded that Ethan Cole was not a co-conspirator, and filed Horowitz' FBI's interview as 3500 material, including: "HOROWITZ was shown document SH-SEC-00020297. COLE came into HOROWITZ’s office and closed the door. This was regarding the response to the SEC.  ICONIX started using words in the response about who negotiated and who provided guidance. COLE told HOROWITZ that COLE wanted to change the MIDDLE EAST and NORTH AFRICA (MENA) JV transaction and even though COLE negotiated it, COLE wanted HOROWITZ to put HOROWITZ’s name. HOROWITZ agreed because HOROWITZ negotiated it as much as everyone else as COLE gave HOROWITZ guidance on it. Instead of just changing MENA, COLE started changing all the JV’s for who did what. COLE was red-faced and screaming about selling stock." 3500 material / FBI interview notes now on Patreon here.

On October 22, the trial churned to the end of the government case, with the defense to put on its first witness on Monday, but still not providing the name. Inner City Press live tweeted here.

On October 25, Neil Cole took the stand and Inner City Press live tweeted here.

On October 26 here's from the US Attorney's Office summation, which Inner City Press live tweeted here:

Closing arguments in US v. Neil Cole: Assistant US Attorney asks why "visionary CEO of Iconix" agreed to pay $2 million to a consultant for no work. #RoundTripping.

AUSA: Cole signed the invoices to sent $5 million back. This is a catastrophic fact. We saw him yesterday, criticizing people's costs at the Super Bowl. And yet he's signing fraudulent $5 million in invoices.

 AUSA: Iconix had already paid for this marketing video (Zoo York Takes Yankee Stadium, on YouTube here; DX 415) before the paid the invoice.

AUSA: Neil Cole did it.

 Judge Ramos: We're going to end, because the defense summation would take us past 2:40 pm. Tomorrow afternoon- you'll be able to stay past 2:40 if you want. See you tomorrow.

Note: in open court, Cole's lawyer said he wants to cross examining cooperation witness Seth Horowitz about concealment of prostitution related activities. Judge Ramos said that question will not be allowed - and when the Assistant US Attorney asked to seal the transcript, Judge Ramos agreed. But it was in open court. Can you say, #Whorowitz?

On September 30 in an in-person final pre trial conference, Cole's lawyer argued that hearing "$28 million" would be prejudicial. The AUSA said it show motive, and Judge Ramos agreed, citing US v. Quattrone, 441 F.3d 153, 179-80 (2d Cir. 2006).

 Inner City Press will continue to cover the trial.

Watch this site.

The case is US v. Cole, 19-cr-869 (Ramos).

***

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