Ex-Publishing Executives Plead Guilty, Avoid Jail Time in Case Linked to Newsweek Magazine
While the details of their sentences have yet to be confirmed, attorneys for both men said the plea arrangements do not involve jail time.
February 18, 2020 at 05:01 PM
2 minute read
Two former publishing executives pleaded guilty Friday to fraud and money laundering, acknowledging their involvement in what the Manhattan District Attorney's Office described as a $35 million scheme of fraudulent loans.
Etienne Uzac, a former co-owner of Newsweek magazine through the company IBT Media, and William Anderson, a former chief executive of Christian Media Corp. and former trustee of Olivet University, are scheduled for sentencing in April.
While the details of their sentences have yet to be confirmed, attorneys for both men said the plea arrangements do not involve jail time.
Marc Agnifilo of Brafman & Associates, who represents Uzac, said the plea will allow Uzac to put the matter behind him.
"Because the loans were fully repaid, we were offered, and we accepted, a non-jail resolution," Agnifilo said in a statement.
Jim Walden of Walden Macht & Haran, who is representing Anderson, said he appreciated that New York County Supreme Court Justice Ruth Pickholz focused on the facts.
"She understood from the very beginning of the case that no one was out any money and that the loans had been repaid and that the money was not used for any sort of personal gain, it was really just used to help finance the operation of a Bible college and its related entities," he said.
IBT Media and Christian Media have already pleaded guilty to roles in the scheme, and each company paid $50,000 in forfeiture, according to the DA's office.
In a statement addressing the Anderson and Uzac guilty pleas, Manhattan District Attorney Cyrus Vance Jr. praised the office's Major Economics Crimes Bureau's work.
"If you compromise the integrity of New York's core industries and financial markets, our Office will hold you criminally accountable whether you're a low-level employee or a high-powered CEO," Vance said.
Read more:
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllRetired Judge Susan Cacace Elected Westchester DA in Win for Democrats
In Eric Adams Case and Other Corruption Matters, Prosecutors Seem Bent on Pushing Boundaries of Their Already Awesome Power
5 minute readEric Adams Trial Set for April as Defense Urges Dismissal of Bribery Count
Major Drug Companies Agree to Pay $49.1 Million to 50 States, Territories
3 minute readTrending Stories
- 1Legal Speak at General Counsel Conference East 2024: Virginia Griffith, Director of Business Development at OutsideGC
- 2Legal Speak at General Counsel Conference East 2024: Bill Tanenbaum, Partner & Chair, AI & Data Law Practice Group at Moses Singer
- 3Morgan & Morgan Looks to Grow Into Complex Litigation While Still Keeping its Billboards Up
- 4Thursday Newspaper
- 5Public Notices/Calendars
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250