}

Thursday, May 31, 2018

ROBERT BUCKHANNON SENTENCING DELAYED...AGAIN! “Crooked Chiropractor” May 30 Sentencing Pushed Back To June 6 Due To Defense Attorney's “Separate Restitution Hearing” Delay Gambit

Sparty On, Rob!
Robert Buckhannon, Michigan's infamous “crooked chiropractor”, finally learns his fate on June 6, 2018 at a sentencing hearing scheduled for 11:00a.m. in U. S. District Court in Las Vegas, Nevada...maybe!

If you're counting, it's Buckhannon's fifth sentencing delay.

Instead of proceeding to trial, Buckhannon struck a deal and plead guilty on August 1, 2017 to a single count of conspiracy to commit wire fraud.

According to his October 1, 2014 indictment, from April 2008 through April 2010, Buckhannon, co-defendant Terry Rawstern and co-conspirators were managing members of two Bradenton, Florida-based hedge funds, Arcanum Equity Fund, LLC and Vestium Equity Fund, LLC. 

Buckhannon and Rawstern were both charged with conspiracy to commit wire fraud, and wire fraud: specifically, “a fraudulent scheme to misappropriate $34 million they raised for the hedge funds.”  The indictment, filed on Sept. 24, 2014, was unsealed October 1, 2014.

The duo allegedly engaged in a fraudulent scheme to misappropriate $34 million they raised from investors by misrepresenting how they would use the investors’ funds and misrepresenting that there were safeguards over the investors’ money, such as an independent trustee and independent fund administrator. 

Buckhannon and Rawstern then looted and bankrupted the hedge funds by taking payments on false and fictitious profits and taking improper and undisclosed loans. The indictment stated that as a result of the defendants’ conduct, investors lost approximately $13.1 million. 

According to his August 1, 2017 plea memorandum, Buckhannon expected to receive a 12 month sentence and an as yet undetermined restitution.  

However, a Presentence Investigation Report prepared in October 2017 by Buckhannon's United States Probation Officer recommended a sentence of 63 months and, upon his release from federal prison, a three-year term of supervised release.

If he'd gone to trial and been convicted on one count of conspiracy to commit wire fraud, Buckhannon could have faced up to 30 years in federal prison. 

In this excerpt from the official minutes of yesterday's hearing (attended by Buckhannon, Courtroom Administrator David Oakes, Assistant United States Attorney Kathryn Newman; Buckhannon's defense attorny Michael Cristalli; and United States Probation Officer Bridger Franzen), AUSA Newman did not object to the one week delay:

“After arguments of counsel are made, Mr. Cristalli informed the court that he had not been given the opportunity to review the restitution list supplied by the government, and requested the court either proceed with the sentencing today, and have a separate restitution hearing in a few weeks so that he may review the restitution list. 

The court denied Mr. Cristalli's request to have a separate restitution hearing, and informed Mr. Cristalli that the court could either proceed with the entire sentencing today, or continue the sentencing in a week. 

Ms. Newman did not object to a short continuance of the sentencing.  The court granted the request to continue the sentencing hearing to Wednesday, June 6, 2018 at 11:00 a.m. 

Court further informed counsel that it would make a victim impact statement it is in receipt of a court exhibit.”

Stay tuned!

1 comment:

  1. Dr. Dipshit is going to get what he deserves. He a proven thief liar and con-artist Who's the bitch now Rob?
    you smug asshole....

    ReplyDelete