One St. Andrews Plaza - New York, NY 10007, Nicholas Biase In or about March 2017, HU caused approximately $6 million to be transferred into an account associated with the Argentine Borrower from the account of a different borrower (Borrower-1), and further directed the funds from Borrower-1s account to pay off the debt owed by the Argentine Borrower to the Retail Fund. Sheldon Silver arrives at Manhattan federal court on Tuesday. It can be hard for any company to withstand a flurry of lawsuits, but for a restaurant chain like Long John Silver's, that litigation can be tough to recover from especially when the CALL IS COMING FROM INSIDE THE HOUSE. The court also announced it planned to impose restitution to victims and forfeiture of the proceeds of the offenses involved in the case, with the amounts to be determined at a later date. From approximately 2007 to 2019, SILVER conspired to defraud investors in IIG-managed funds by: (i) overvaluing distressed loans held by the IIG Funds, (ii) falsifying paperwork to create a series of fake loans that were classified, fraudulently, as positively performing loans, and to otherwise hide losses, (iii) selling overvalued and fake loans to a collateralized loan obligation trust and new private funds established and advised by IIG, and (iv) using the proceeds from those fraudulent sales to generate liquidity required to pay off earlier investors in a Ponzi-like manner. Silver officially opposed the relocation of a methadone clinic that was proposed to be located close to one of Glenwood's rental buildings in Silver's district. Assistant U.S. According to the allegations contained in the Information and based on statements made in Manhattan federal court: SILVER and a co-conspirator (CC-1) founded IIG in 1994. IIG purported to value the trade finance loans in the IIG Funds on a regular basis. 1700-05, 1932-43; GX 1522. Join Facebook to connect with Martin Silver and others you may know. a};@_5,}V$dYOKl'[>r. April 13, 2022 Litigation Releases These Distressed Loans included, for example, loans for which the borrowers had missed multiple scheduled payments. A federal judge has sentenced the co-founder of a private debt adviser to 12 years in prison for a $100 million Ponzi scheme he launched to help his firm cover up bad IIG, an SEC-registered investment adviser, provided investment management and advisory services, including for three private funds that it operated: (1) the IIG Trade Opportunities Fund N.V. (TOF); (2) the IIG Global Trade Finance Fund, Ltd. (GTFF); and (3) the IIG Structured Trade Finance Fund, Ltd. (STFF). He has not yet been sentenced. The amounts he must pay will be determined at a later date.
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