All American Pet Company Inc (AAPT)

[Pinky Buster]

AAPT OWNERS-on-BAIL/Metropolitan Correctional Center-awaiting-CRIMINAL-TRIAL!

LOOKY:

At a hearing held on Friday, December 22, 2017, before United States District Judge Robert W. Sweet, recently indicted married couple Lisa Bershan and Barry B. Schwartz were granted bail under the following conditions: $50,000 cash, electronic monitoring with home detention, surrender of passports, travel restrictions, surrender of firearms, and no contact with their alleged victims or co-defendant Joel J. Margulies.

Three weeks earlier at another session before Judge Sweet, attorneys for Bershan and Schwartz had requested that they be released on their own recognizance to stay at a rented apartment in New Jersey. Assistant U.S. Attorney Robert Allen opposed that application on the grounds that they are a flight risk.

Bershan and Schwartz were released from Metropolitan Correctional Center on January 2, 2018.

No trial date has been set.

BAIL INCREASE for Joel:


On October 11, 2017, Joel J. Margulies, 73, of Murfreesboro, Tennessee, was arrested and charged with securities fraud, wire fraud, and conspiracy to commit those offenses in connection with an alleged scheme to defraud investors in the Starship Snacks company. According to the complaint, Margulies was held out as an employee and marketing expert. He faces up to 20 years in prison if convicted of the charges against him.

At his first appearance in Manhattan federal court on October 25, 2017, Margulies plead not guilty.

During a discussion about bail for Margulies, Assistant U.S. Attorney Robert Allen reported that Margulies purchased a firearm for co-defendant Lisa Bershan, and that he forged a document from Deutsche Bank in order to help Bershan purchase a residence.

Magistrate Judge Ronald L. Ellis eventually imposed a bond of $50,000 secured by Margulies’ home.

The bond was later increased to $150,000 and his wife was required to cosign after it was revealed that Margulies had sent an email to a former investor in an unrelated company called All American Pet Co. in an apparent attempt to raise money after his arrest in the Starship Snacks case.

http://newyorkcrime.com/

Keep current on this Securities Fraud case by checking here daily:

https://www.pacermonitor.com/public/case/22703199/Securities_and_Exchange_Commission_v_Bershan_et_al#