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David Correia, who used Rudy Giuliani's name to defraud investors, sentenced to 1 year
Also: Businessman sentenced to prison in fraud case involving ex-Giuliani associate Lev Parnas (Washington Post)
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Source: New York Daily News
David Correia, who used Rudy Giuliani’s name to defraud investors, sentenced to 1 year
By STEPHEN REX BROWN
NEW YORK DAILY NEWS |
FEB 08, 2021 AT 12:56 PM
A businessman who touted Rudy Giuliani’s support while defrauding investors in an insurance startup was sentenced Monday to one year in prison.
David Correia swindled more than $2 million over a seven-year period from investors in a startup, Fraud Guarantee, which he pitched with Giuliani’s former associate Lev Parnas.
“The irony of the business’s name, Fraud Guarantee, is hard to ignore,” Manhattan Federal Judge Paul Oetken said, noting that Correia lied to investors about how much money was raised for the project and how their money would be used.
Prosecutors say Correia scored a $500,000 contribution from one investor in 2018 by emphasizing the former mayor’s support of the project. That money went to Giuliani’s consulting firm.
-snip-
By STEPHEN REX BROWN
NEW YORK DAILY NEWS |
FEB 08, 2021 AT 12:56 PM
A businessman who touted Rudy Giuliani’s support while defrauding investors in an insurance startup was sentenced Monday to one year in prison.
David Correia swindled more than $2 million over a seven-year period from investors in a startup, Fraud Guarantee, which he pitched with Giuliani’s former associate Lev Parnas.
“The irony of the business’s name, Fraud Guarantee, is hard to ignore,” Manhattan Federal Judge Paul Oetken said, noting that Correia lied to investors about how much money was raised for the project and how their money would be used.
Prosecutors say Correia scored a $500,000 contribution from one investor in 2018 by emphasizing the former mayor’s support of the project. That money went to Giuliani’s consulting firm.
-snip-
Read more: https://www.nydailynews.com/new-york/ny-correia-fraud-guarantee-sentencing-20210208-23yswouifrhclabfcm5fpkl2r4-story.html
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Source: Washington Post
Businessman sentenced to prison in fraud case involving ex-Giuliani associate Lev Parnas
By Shayna Jacobs
2/8/2021, 1:03:08 p.m.
NEW YORK — David Correia, whose business ties to Rudolph W. Giuliani had drawn scrutiny, was sentenced Monday to a year in prison for defrauding investors of an insurance start-up that paid the former New York mayor hundreds of thousands of dollars for consulting work while he was President Donald Trump's lawyer.
Correia pleaded guilty in October to duping investors in Fraud Guarantee, the business he started with Giuliani’s former associate Lev Parnas. The firm offered fraud protection and “risk management tools” to other companies, but prosecutors say it was never operational and that, instead, Correia and Parnas used over $2 million in investment capital for personal expenses.
Parnas, a Ukrainian-born businessman who later teamed with Giuliani to undermine President Biden’s candidacy in the 2020 election, has maintained his innocence. Giuliani is not accused of wrongdoing and has said there was nothing inappropriate about his work for Fraud Guarantee.
Correia’s lawyer, William Harrington, had argued that his client should not serve prison time because he took about $44,000 over seven years, what Harrington characterized as a small sum overall and far less than what Parnas is accused of pocketing. Correia, he told the court, took responsibly for his conduct and had been sincere about trying to make Fraud Guarantee a success.
-snip-
By Shayna Jacobs
2/8/2021, 1:03:08 p.m.
NEW YORK — David Correia, whose business ties to Rudolph W. Giuliani had drawn scrutiny, was sentenced Monday to a year in prison for defrauding investors of an insurance start-up that paid the former New York mayor hundreds of thousands of dollars for consulting work while he was President Donald Trump's lawyer.
Correia pleaded guilty in October to duping investors in Fraud Guarantee, the business he started with Giuliani’s former associate Lev Parnas. The firm offered fraud protection and “risk management tools” to other companies, but prosecutors say it was never operational and that, instead, Correia and Parnas used over $2 million in investment capital for personal expenses.
Parnas, a Ukrainian-born businessman who later teamed with Giuliani to undermine President Biden’s candidacy in the 2020 election, has maintained his innocence. Giuliani is not accused of wrongdoing and has said there was nothing inappropriate about his work for Fraud Guarantee.
Correia’s lawyer, William Harrington, had argued that his client should not serve prison time because he took about $44,000 over seven years, what Harrington characterized as a small sum overall and far less than what Parnas is accused of pocketing. Correia, he told the court, took responsibly for his conduct and had been sincere about trying to make Fraud Guarantee a success.
-snip-
Read more: https://www.washingtonpost.com/national-security/david-correia-sentenced-prison/2021/02/08/4a4bc1ba-6a28-11eb-9ead-673168d5b874_story.html
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