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Feds do not do early release. He will have to serve the full term.
Yes, 2-months ago, 12 years. 2 years above his plea agreement.
https://media.discordapp.net/attachments/1059105144010199100/1113588574076543116/IMG_7386.png?width=1025&height=418
Are you asking if he got a new shade of lipstick?
Does the company own any money accruing businesses yet?
I’m not sure this stock and any stocks that evolve from it will be able to cleanse the years or lies and filth associated with it.
I hadn’t seen this article before. The photos are hilarious.
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Thanks, where did you listen to it?
Any word on the sentencing hearing today?
That was from the plea deal, prior to yesterdays sentencing. The judge may not have agreed to the terms of the plea deal yesterday.
Yesterday, was the sentencing date. Anyone know the results?
I’m not sure about that. He is a relatively small fish and fled authorities, which will not help him much during sentencing.
You are correct. That was done away with years ago.
Also curious when he will be eligible if and when he will be eligible for paroll.
I am curious how the judge will rule too, given how blatant and unsophisticated his crimes were. Pure hubris.
There has already been quite a bit of discussion on social networking.
Here is a photo that has been shared between classmates:
https://ibb.co/g9MknWr
It's highly likely that she will stay at least through the trial.
Yes, we were both class of 1999.
Glad the press got a hold of that photo. The one I posted came from my high school yearbook.
I’m certain BUX is in the cell with him. Lol
I’m certain BUX is in the cell with him. Lol
What gets me is there must have been of hundreds of times where people told him “thank you for your service” and he would sit there taking that honor away from those who served and died for it. Makes me sick.
What gets me is there must have been of hundreds of times where people told him “thank you for your service” and he would sit there taking that honor away from those who served and died for it. Makes me sick.
This will make you smile.
https://ibb.co/QCDxTD7
Looks like JC is finally getting the attention all these years.
https://www.cnbc.com/amp/2022/10/05/man-claimed-to-be-billionaire-harvard-mba-iraq-vet-in-financial-fraud.html
It's great that the SEC is finally going after Costello. However, while I understand the SEC has limited resources and wants to present a complete case that can be won. I wish they would have stepped in prior to all the "lower" income retail investors losing their money, even with a minor fine.
Where did you see that?
The fact that JC was creating websites with squarespace and claiming to be a billionaire is pretty indicative that he was unaware of these method’s weaknesses.
And IP spoofing.
The feds are aware of VPNs.
So, BUX claimed to live in Holland, which always came off as suspect to me. Perhaps it was JC was trying to cover his tracks. The problem with that logic is that if the feds are tracking at the point of origin, a VPN will not cover your tracks.
IP addresses are easily changed with a VPN. I could login with a European IP address right now and I live in the United States.
Email or IP? These are both easily changed.
What prevents someone from having 2 profiles?
Has anyone ever considered that JC is the BUX?
How many people do you think JC would roll on to stay out of jail?
That post should have said “The lawsuit stated the SEC and the DOJ were moving on him this year. At this point, I wouldn’t be surprised if the case disappears into the ether.”
By ether, I mean goes away.
That post should have said “The lawsuit stated the SEC and the DOJ were moving on him this year. At this point, I wouldn’t be surprised if the case disappears into the ether.”
By ether, I mean goes away.
The lawsuit stated the SEC and the DOJ were moving on him this year. At this point, I would be surprised if the case disappears into the ether.
Pot Banker Says Looming Criminal Charges Warrant Suit Stay
Law360 (June 21, 2021, 6:12 PM EDT) -- A cannabis banking firm has disclosed to a California federal court that its CEO is expected to face various charges in the wake of a federal criminal investigation, saying a suit filed by a client accusing it of withholding nearly $3 million should be paused until the criminal investigation concludes.
Pacific Banking Corp. noted in a Friday memo supporting its bid to stay the case filed by Cann Distributors Inc. that investigators anticipate handing down federal securities and banking charges against Pacific CEO Justin Costello. That information comes from a declaration in a separate civil case Costello is facing, which Pacific cited in Friday's filings.
In that separate case, a Washington state court judge granted a full stay of the action until the criminal prosecution is resolved. Costello's counsel in that case said he spoke with an assistant U.S. attorney for the U.S. Department of Justice and a special agent with the FBI, according to the declaration. The assistant U.S. attorney, Justin Arnold, works in the Western District of Washington and indicated Costello was the target of an investigation that was "very far along" and "moving quickly," and that third parties may also be charged, the declaration reads.
Pacific Banking said Friday that a stay is proper in Cann's case because if discovery were to move forward, Costello "will be faced with the difficult choice between asserting [his] right against self-incrimination, thereby inviting prejudice in the civil case, or waiving those rights, thereby courting liability in the civil case," citing the case of Javier H. v. Garcia-Botello .
Pacific Banking said it will move for an order staying the case on July 29.
The banking company said the court and the public would benefit from a temporary stay, noting that resolving the criminal matter may narrow the scope of civil discovery. But Steven M. Selna of Selna Partners LLP, counsel for Cann, said via email that the company's interest in getting back its funds would be prejudiced by a stay.
"We filed our complaint 15 months ago and the case has already been delayed by Mr. Costello's dilatory tactics, filing motions to dismiss based on lack of subject matter and personal jurisdiction that were not well-supported and ultimately denied by the court," Selna said. "Defendants have since been actively participating in this case, and their 5th amendment rights can be adequately protected here."
Counsel for Pacific Banking and Costello did not immediately respond to a request for comment Monday.
Pacific Banking said Cann filed a "virtually identical" suit in a Washington state court, which Costello is also moving to have dismissed or stayed.
Companies like Pacific Banking have stepped in for cannabis companies to fill the void left by traditional banks, which generally refuse to serve marijuana clients for fear of running afoul of federal drug and money laundering laws.
Pacific Banking serves as a middleman of sorts, part of an ecosystem of firms that help connect banks and cannabis businesses through software, auditing and cash collection. Without companies like Pacific Banking, marijuana businesses often have to deal almost exclusively in cash.
In its March 2020 complaint in the federal case, Cann said Pacific Banking failed to pay millions of dollars in California tax payments and vendor invoices on its behalf. The next month, before Pacific Banking appeared in the case, Cann secured an order blocking Pacific Banking from touching the nearly $2.8 million Cann said it had deposited.
Cann claimed Pacific Banking didn't follow through on two requested tax payments totaling $2.4 million since December, exposing Cann to $500,000 in penalties and possible blackballing from the industry by California regulators. Vendors, owed a total of $1.7 million, have also come knocking, according to the complaint.
Cann, which is part of the California-based marijuana company NUG, said it believes Pacific Banking deposited its funds into accounts controlled by Costello, through an entity known as GRN Funds LLC. Cann said it never got an explanation for its unpaid bills.
Pacific Banking hit back with a motion to dismiss in May 2020, saying it can't be sued for the funds in federal court because marijuana is illegal. The company also said Cann deserved sanctions for wasting the court's time with a suit concerning money earned from illicit drugs, but the court denied the sanctions bids in June 2020.
The court denied Pacific Banking's motion to dismiss in March, saying all the elements of diversity jurisdiction were sufficiently alleged.
Cann is represented by Steven M. Selna and Robert W. Selna of Selna Partners LLP.
Pacific Banking and Costello are represented by Loren Kieve.
The case is CCSAC Inc. et al. v Pacific Banking Corp et al., case number 3:20-cv-02102, in the U.S. District Court for the Northern District of California.
--Additional reporting by Jack Queen and Diana Novak Jones. Editing by Amy Rowe.
Read more at: https://www.law360.com/articles/1395717?copied=1