Ponzi schemes continue to roll up July 30, 2009Posted by jefhenningeresq in News.
Tags: Attorney, Crime, Fraud, Law, Lawyer, Madoff, New Jersey, News, Ponzi scheme
Some of the ponzi schemes that surfaced over the past year are starting to plea out. The latest includes Marcia Sladich, the former operator of a Clifton-based real estate investment program. She admitted that she fraudulently stole more than $15 million from hundreds of investors. She pleaded guilty on Thursday in federal court to a one-count information charging her with mail fraud. Under federal sentencing guidelines, she faces up to 78 months in prison but of course, the guidelines are no longer mandatory.
After the circus that was the Madoff case, I would want a few more of these cases to shake out first before tempting fate. Conventional wisdom has traditionally been that a good attorney can shave years off the sentencing guidelines in a white collar crime case. My firm has made that a reality. Of course, post-Madoff, some judges might want to send an example especially when the victims are in the hundreds. A six and a half year sentence in a $15 million case is pretty good deal so we’ll have to see what the judge hands down.
Story is here.