Pending Criminal Division Cases

United States v. Edward J. DiMaria
Court Docket No.: 1:17-cr-20898 (S.D. Florida)

Court Assigned: This case is assigned to Chief Judge K. Michael Moore, U.S. District Court for the Southern District of Florida, Wilkie D. Ferguson, Jr., U.S. Courthouse, 400 North Miami Ave., FL 33128.


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Criminal Charges: On December 19 2017, Edward J. DiMaria, 52, of Fairfield County, Connecticut, was charged in an indictment filed in the Southern District of Florida with one count of conspiracy to make false statements to a public company’s accountants and to falsify a public company’s books, records and accounts; six counts of false entries in a public company’s books, records and accounts; three counts of false statements to a public company’s accountants; one count of conspiracy to commit securities fraud and wire fraud; one count of wire fraud, and one count of securities fraud.  DiMaria, who previously worked at Bankrate’s offices in New York City, made his initial appearance on December 20, 2017 before U.S. Magistrate Judge Edwin G. Torres of the Southern District of Florida and was released on bond.

The indictment alleges that between 2011 and 2014, DiMaria and his co-conspirators carried out a complex scheme to manipulate Bankrate’s financial statements and artificially inflate Bankrate’s earnings.  According to the indictment, DiMaria and his co-conspirators allegedly engaged in so-called “cookie jar” or “cushion” accounting where over a million dollars in unsupported expense accruals were left on Bankrate’s books and then selectively reversed in later quarters to meet earnings goals.  In addition, DiMaria and his co-conspirators allegedly misrepresented certain company expenses as “deal costs” in order to artificially inflate publicly reported adjusted earnings metrics, and made materially false statements to conceal the improper accounting entries from Bankrate’s auditors, shareholders and the investing public.  The indictment further alleges that while DiMaria was misleading Bankrate’s auditors and the public about the company’s financial condition he realized millions of dollars from selling his own shares of Bankrate stock. 

On June 28, 2018, DiMaria was charged in a superseding information with one count of conspiracy to make false statements to a public company’s accountants, to falsify a public company’s books and records, and to commit securities fraud, and one count of false statements.

For more information about the charges, please see below:
Superseding Information
Press Release – June 28, 2018
Press Release –December 20, 2017
Press Release – September 25, 2018
Indictment

The information on this website will be updated as new developments arise in the case. If you have any questions, please call the Victim Assistance Line toll-free at (888) 549-3945 or email us at victimassistance.fraud@usdoj.gov (link sends e-mail) (link sends e-mail).

Related Case: United States v. Hyunjin Lerner


Presumption of Innocence: It is important to keep in mind that defendants are presumed innocent until proven guilty and that presumption requires both the court and our office to take certain steps to ensure that justice is served.

Crime Victims’ Rights Act and Right to Retain Counsel: The Crime Victims’ Rights Act (18 U.S.C. § 3771) applies only to victims of the counts charged in federal court, and thus individuals may not be able to exercise all of these rights if the crime of which the individual is a victim was not charged. Section 377I(c)(2) of this Act requires that we advise you that you have the right to retain counsel. Although the statute specifically sets forth your right to seek advice of an attorney with regard to your rights under the statute, there is no requirement that you retain counsel. The Government may not recommend any specific counsel, nor can the Government (or the Court) pay for counsel to represent you. Government attorneys represent the United States.

If you elect to obtain counsel to represent your interests, please have your attorney notify this office in writing at: U.S. Department of Justice, Criminal Division, Fraud Section, 10th & Constitution Avenue, NW, Bond Building, 4th Floor, Washington, DC 20530, Attention: Victim Witness Unit; fax: (202) 514-3708; or email: victimassistance.fraud@usdoj.gov. If you elect not to retain counsel to represent your interests, you do not need to do anything.

Plea Agreements:  Please be aware that many criminal cases are resolved by plea agreement between the Department of Justice and the defendant. You should also know that it is not unusual for a defendant to seek to negotiate a plea agreement shortly before trial is scheduled to begin. Plea agreements can be made at any time and as late as the morning of trial, leaving little or no opportunity to provide notice to you of the date and time of the plea hearing. If the court schedules a plea hearing in this case, we will use our best efforts to notify you of available information as soon as practicable. If you want to inform the prosecutor of your views regarding potential plea agreements, or any other aspect of the case, please call the Victim Assistance Line toll-free at (888) 549-3945 or email us at victimassistance.fraud@usdoj.gov, and we will put you in touch with the prosecutor.

 

Updated November 9, 2018

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