Abramoff, Kidan Sentenced to 70 Months
"But as expected, Miami federal court judge Paul Huck stayed the sentences for 90 days so Abramoff and Kidan can continue working with authorities in a potentially widespread bribery and influence peddling investigation on Capitol Hill. Huck has the discretion to lower their prison time once their cooperation is evaluated.
" Kidan, 41, added that he's accepted full responsibility for his role in the wire fraud scheme, an apparent shot at Abramoff, who recently filed a court motion that not only asked for leniency but also blamed Kidan for much of the bank fraud scheme to purchase the Dania Beach-based SunCruz Casinos gambling ships.
" In addition to potential prison time, Assistant United States Attorney Lawrence D. LaVecchio said that the men owe $21,701,015.45 to Foothill Capital Corp., the financing firm in the $147.5 million sale of the Dania Beach-based SunCruz Casinos. It proved an ill-fated deal, ending with possible prison terms for Kidan and Abramoff, who raised more than $100,000 for President Bush's re-election campaign. Six months after the sale, the floating casinos' founder, South Florida entrepreneur Konstantinos 'Gus' Boulis, was murdered.
"The bank fraud case revolved around a stipulation in Foothill Capital's $60 million loan that Abramoff and Kidan pay Boulis $23 million of their own money at the closing. But when they couldn't come up with the down payment, Abramoff and Kidan came up with a plan to have Boulis sign promissory notes and then the three of them faked a wire transfer showing the $23 million had been paid "
<< Home