| Coffee Trader in Miami
Pleads Not Guilty In SDNY to Defrauding Banks
on Margin Calls
by
Matthew Russell Lee, Patreon Book
Substack
SDNY
COURTHOUSE,
Jan 6 – A Miami-based coffee
trader has been charged with
fraud in the U.S. District
Court for the Southern
District of New York. On
January 6 he was arraigned
before Judge Richard M.
Berman. Inner City Press was
there, the only media in the
courtroom.
Defense counsel said since the
allegations involve at least
seven countries in South and
Central America, he will have
to bone up on the MLAT
process, and expected
discovery to run into the
second quarter of 2027.
He asked for leave to file a
motion for a bill of
particulars
. The
AUSA said he will discuss this
with the defense to see if
motion practice can be
avoided. If not, he said his
Office is ready to
respond.
The charges
include deceiving banks in
SDNY about payments for margin
calls.
The case is
USA v. Alvarez, 1:25-cv-464
(Berman)
***
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