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SDNY Jason Galanis Got 189
Months Now Morton Gets 15
Delayed For Defrauding Tribes
By Matthew
Russell Lee
SDNY COURTHOUSE,
Nov 18 – When repeat fraudster
John Galanis was sentenced on
March 8, 2019 in the U.S.
District Court for the
Southern District of New York
for swindling a Native
American tribal entity, the
Wakpamni Lake Community
Corporation, he was ordered to
pay over $43 million in
restitution.
It was ironic,
because part of Galanis'
argument against the 10 years
of imprisonment he was also
sentenced to was that the U.S.
Bureau of Prison has refused
or been unable to get him a
pair of orthopedic shoes,
leaving him in a wheelchair.
So a man without
shoes is billed $43 million -
and he is already 75 years
ago.
On November 18,
2020, SDNY Judge Ronnie Abrams
had before her for sentencing
in the same case Michelle
Morton, whose lawyer described
how she has wanted to help
Native Americans.
At issue was
relative culpability. While
Morton is jointly and
severally liable for the $43
million - her lawyers called
it academic, then explained
they meant she does not have
the money - Judge Abrams
decided on a sentence of 15
months, to being on May 18 or
later is the COVID pandemic is
still active on the Burea of
Prisons. We note that Morton's
sentencing submissions were
heavily redacted, in some
cases absurdly so.
Earlier on
Galanis, Judge Abrams focused
on his age, that he had
committed two of his four
frauds in his late sixties and
early seventies. Galanis on
the other hand blamed it on
his son Jason; his lawyer said
he had really meant to help
the tribe. There was no one in
the courtroom to make a
victim's statement. There were
two marshals to wheel Galanis
away, ultimately to the Bureau
of Prisons' Terminal Island
facility near Los Angeles.
Terminal indeed.
Now on September
24, 2020, this: "JASON GALANIS
was sentenced to 189 months in
prison for his participation
in multiple fraudulent
schemes. In particular,
GALANIS was sentenced for his
role in a scheme to manipulate
the market for Gerova
Financial Group, Ltd.
(“Gerova”), a publicly traded
company listed on the New York
Stock Exchange, and defrauding
the shareholders of that
company (the “Gerova Scheme”),
and for defrauding the clients
of an investment advisory
firm. GALANIS was also
sentenced for his role in a
scheme to defraud a Native
American tribal entity and the
investing public of tens of
millions of dollars in
connection with the issuance
of bonds by the tribal entity
(the “Tribal Bond
Scheme”). GALANIS pled
guilty on January 31, 2020, to
a seven-count information
charging GALANIS with
participation in the Gerova
and Tribal Bond Schemes.
GALANIS was sentenced today by
United States District Judge
P. Kevin Castel... In addition
to the prison term, JASON
GALANIS, 50, was sentenced to
three years of supervised
release. GALANIS was
also ordered to forfeit
$80,869,117.10, as well as his
interest in properties in New
York and Los Angeles, and to
make restitution in the amount
of $80,817,513.43."
This case is US
v. Galanis et al., 15-cr-643
(Castel)
***
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