Major Achievements in the Courtroom
Patrick Fitzgerald, U.S. Attorney for the Northern District of Illinois |
Northern District of Illinois
Suburban Man Sentenced to 23 Years in Prison After Hundreds of Victims Lost More Than $30 Million in 22-Year “Ponzi” Scheme
Defendant: Frank A. Castaldi
Sentence: 23 years in prison, restitution to victims of $31.6 million and to IRS of $8.8 million
Description: Ponzi Scheme, victimizing over 300 individuals and investor groups over 23 years
Amount of Fraud: Over $30 million
Date: September 15, 2010
B. Todd Jones, U.S. Attorney for the District of Minnesota |
District of Minnesota
Tom Petters Sentenced to 50 Years in Federal Prison for Orchestrating $3.7 Billion Ponzi Scheme
Defendant: Thomas Joseph Petters
Sentence: 50 years in prison
Description: Ponzi scheme
Amount of Fraud: $3.7 billion
Date: April 8, 2010
Loretta Lynch, U.S. Attorney for the Eastern District of New York |
Eastern District of New York
Long Island-Based Defendant Caused Thousands of Investors to Lose $195 Million
Defendant: Nicholas Cosmo
Sentence: 25 years in prison, restitution of $179 million, forfeiture of $409 million
Description: Ponzi scheme, victimizing more than 4,000 victims
Amount of Fraud: Over $400 million
Date: October 14, 2011
Preet Bharara, U.S. Attorney for the Southern District of New York |
Southern District of New York
Hedge Fund Founder Raj Rajaratnam Sentenced in Manhattan Federal Court to 11 Years in Prison for Insider Trading Crimes
Defendant: Raj Rajaratnam
Sentence: 11 years in prison, $10 million fine, and forfeiture of over $53 million
Description: Largest ever hedge fund insider trading case
Amount of Defendant’s Gain: Over $50 million
Date: October 13, 2011
Bernard Madoff Sentenced to 150 Years in Prison
Defendant: Bernard Madoff
Sentence: 150 years in prison
Description: Ponzi Scheme causing billions of dollars of losses to thousands of investor-victims
Amount of Fraud: Billions of dollars
Date: June 29, 2009
Founder of the Cobalt Companies Sentenced to 85 Years in Prison for $23 Million Real Estate Fraud Scheme
Defendant: Irving Stitsky
Sentence: 85 years in prison, restitution of $22 million, forfeiture of $23.1 million
Defendant: Mark Alan Shapiro
Sentence: 85 years in prison, restitution of $22 million, forfeiture of $23.1 million
Description: Investment fraud, victimizing more than 250 victims
Amount of Fraud: $23 million
Date: October 21, 2010
Neil Macbride, U.S. Attorney for the Eastern District of Virginia |
Eastern District of Virginia
Houston-based Principals of A&O Entities Sentenced in Virginia for $100 Million Fraud Scheme
Defendant: Adley H. Abdulwahab
Sentence: 60 years in prison
Defendant: Christian Allmendinger
Sentence: Sentence: 45 years in prison
Description: Investment fraud, victimizing more than 800 victims nationwide
Amount of Fraud: $100 million
Date: September 28, 2011
Former Chairman of Taylor, Bean & Whitaker Sentenced to 30 Years in Prison and Ordered to Forfeit $38.5 Million
Description: Bank fraud through sales of fraudulent mortgage assets
Sentence: 30 years in prison, forfeiture of $38.5 million
Description: Ponzi scheme
Amount of Fraud: $2.9 billion
Date: June 30, 2011
