| Ponzi
Schemer Martin Silver Pled Guilty Now Has
More Funds So Victims Order Reopened
By Matthew
Russell Lee, Patreon
SDNY COURTHOUSE,
Dec 16 – David Hu was charged
with conspiracy to commit
investment adviser fraud,
securities fraud and wire
fraud in connection with the
Venezuela Recovery
Fund.
On January
28, 2021 U.S. District Court
for the Southern District of
New York Judge Alvin K. Heller
held a change of plea
proceeding. Inner City Press
covered it.
Hu agreed to
forfeit some $129 million.
His sentencing
was be pushed back to June, or
maybe long if his lawyer has
his way.
It was longer. It
was in April 2022 that 12
years were imposed: "DAVID HU,
former managing partner and
chief investment officer of
the Manhattan-based investment
advisory firm International
Investment Group (“IIG”), was
sentenced today to 12 years in
prison for his role in an over
$120 million scheme to defraud
IIG’s clients and
investors. HU pled
guilty in January 2021 to
investment adviser fraud,
securities fraud, and wire
fraud offenses. U.S.
District Judge Alvin K.
Hellerstein announced today’s
sentence.
Jump cut to
December 16, 2024 when on
co-defendant Martin Silver
victims were seeking more
money, thread:
Judge: Does
Martin Silver still have cars?
A: No.
Judge: Where does
he live?
A: The Upper West
Side apartment purchased
during the fraud period and
put in his wife's name...
The case is USA
v. Hu, et al., 1:20-cr-360
(Hellerstein)
***
Your
support means a lot. As little as $5 a month
helps keep us going and grants you access to
exclusive bonus material on our Patreon
page. Click
here to become a patron.
Feedback:
Editorial [at] innercitypress.com
SDNY Press Room
500 Pearl Street, NY NY 10007 USA
Mail: Box 130222 NY NY 10013
Reporter's mobile (and weekends):
718-716-3540
Other, earlier Inner City Press are
listed here,
and some are available in the ProQuest
service, and now on Lexis-Nexis.
Copyright 2006-2024 Inner City
Press, Inc. To request reprint or other
permission, e-contact Editorial [at]
innercitypress.com
|
,
