Former newport news investment broker gets two more years to serve in prison – daily press how to make money online in pakistan
“You brought dirty money into this federal court,” she told him at the hearing at U.S. How to make free money online no scams District Court in Norfolk, as he stood before her in light green jail garb. How to make extra money online 2016 “Using criminal proceeds to pay for your trial, it doesn’t happen. How to make money online on facebook … Make money online scam free I’ve been here a long time, and I’ve never seen this. How to make money online at home for free When the Feds roll up on you, you stop.”
It was particularly offensive, Wright Allen added, that Martinovich enmeshed his trial lawyer and others in his actions, some of which took place while he was free on bail in the fraud case. How to earn money online without investment in india “It is a privilege to stay out on bond pending trial,” she said.
is, in a May plea agreement, prosecutors promised to ask the judge to run the new sentence concurrently with the sentence Martinovich got on 17 fraud convictions in 2013. I need to make money fast online That would have meant he would serve no additional prison time.
But though Assistant U.S. How to make money online easy and free Attorneys Brian Samuels and Katie Dougherty followed through on that vow Thursday — requesting a five-year concurrent sentence — Wright Allen instead gave him an additional two years to serve behind bars.
Also on Thursday, Wright Allen kept Martinovich’s prior sentence — 11 years and eight months — in place on the earlier charges. How to make money online legally A federal appeals court had ordered a new sentencing on those charges earlier this year, saying the 2013 trial judge, U.S. Ways to make money online now District Judge Robert G. Make a lot of money gta online Doumar, had incorrectly said federal sentencing guidelines are mandatory on judges when in fact they are merely discretionary.
All told, Wright Allen’s actions Thursday bring Martinovich’s overall sentence to 13 years and eight months to serve — minus the nearly three years he has already spent in custody at a federal prison in New Jersey.
Following a monthlong trial in April and May of 2013, a federal jury in Newport News convicted Martinovich on 17 of the 25 fraud counts he faced. How to actually make money online Among other things, they found he had schemed to artificially inflate the appraisal of a company held by one of his hedge funds as a way of boosting the performance fees to him and his company.
Several investors testified Martinovich steered them into funds they weren’t qualified for, or told them they could easily withdraw their money from those funds, when in fact they could not.
Soon after that 2013 trial ended, federal agents found that in August 2010, after MICG’s collapse, Martinovich moved just over $700,000 from one of his company’s hedge funds to a new bank account.
Prosecutors said Martinovich spent $125,000 of that money on his trial lawyer, James Broccoletti, plus another $45,000 on other trial defense fees — such as jury and sentencing experts — and also withdrew at least another $147,000 in cash. How to make money online for real no scams Though Martinovich had gotten a legal opinion from a Chesapeake attorney that the MICG hedge fund at the center of the fraud case was obligated to pay those legal bills, he actually made the payments from a different MICG hedge fund.
Several investors who lost money with MICG testified at Thursday’s sentencing hearing, with others writing letters to the court about how the loss of that money impacted their lives.
William B. Make money online fast free Carper Jr., 68, of Charles City County, testified he had about $1.5 million invested with MICG. How to make money online for free Without that money, he said, he had to put his elderly aunt into a nursing home rather than the better care “that I could have provided for” if he had that money back.
He also said he hasn’t been able to put as much money into his grandkids’ college savings plans as he would like and hasn’t been able to afford to give as much to charity as he intended.
Carper said he “wasn’t surprised but more disgusted” that Martinovich spent money from an investors’ account. How to make money online for free no surveys “Taking that money and using it for his personal use and legal defense, it is disgusting,” he said.
Carper said he didn’t think he’d ever see the money again, even if Martinovich got out and was allowed to work. Ways to make a little extra money online “I don’t think he’s remorseful enough to be motivated to be able to do that,” he said.
Dr. How to make money online right now Robert Dreelin, a Hampton dentist, testified he had about $1.3 million invested with MICG but lost the money when the firm closed its doors.
Martinovich had told him before MICG’s collapse “that if you need the money, I will make you whole,” Dreelin said. How to make real money online from home “But when it came to crunch time, he said we couldn’t have the money, and we lost it.” Dreelin said that making Martinovich his adviser “led to the ultimate demise of my family” in many ways. How to make money online with a free blog “I still suffer from depression and almost had a nervous breakdown,” he said.
In a statement to the court before sentencing, Martinovich expressed his remorse. How to make money online for free in india He said he was sorry and deeply embarrassed by his actions but wanted the chance to redeem himself by paying the money back to investors. I need to make money online “I believe and I know that with a little time and a lot of hard work, that I will be able to rewrite a successful ending to this story,” he said.
His lawyer, Lawrence H. How to make money fast online without investment Woodward Jr., pointed out that not all the investors’ losses were attributable to Martinovich’s actions. How to make money fast gta 5 online A lot of the losses, he said, were the result of the market simply tanking at that time.
And Woodward pressed for leniency, saying that investors would be better off if Martinovich could be allowed to make money again rather than languishing in prison.
In the two cases, Martinovich has been ordered to pay about $2.4 million in restitution to dozens of investors. How to make money from home for free online “He’s going to be out there working his butt off to pay back the money,” Woodward told the judge. How to make extra money from home legally “You ought to give the investors hope and a chance.”