Those 5 trades totalling $418 were the "institutional money" coming in from Cleveland - you can tell by the large size of those block trades. The "smart money" in SPNG comes in on the first and third weeks of the month - when the unemployment checks, Social Security checks, and Burger King payroll checks are cashed by the SPNG chumpigentsia.
I see they indicted Stevearino and Mutt with, among other things, conspiracy to commit money laundering under 18 U.S.C. 1957 rather than 1956. Under Section 1957, the US does NOT need to prove the defendants even knew that the money was illegal proceeds (as they would under Section 1956). This makes it a slam dunk for the prosecution - the tradeoff is that the prison term is 10 years for this count, whereas if they went with 1956 they could get 20 years for that count. The prosecutors get a much easier job in putting on the evidence to prove the count because they don't need to show that Mosky & Mett even knew that what they were doing (issuing stock and then getting the restrictive legend removed - by any means, even just requesting it - or transferring SPNG stock from RME to a third party nominee) was wrong - and they still can get 10 years just on that count and they also get to use criminal forfeiture under that Section 1957 to grab any and all assets that were or could have (because money is fungible) been bought with any proceeds or had deposits of any proceeds into them. The gummint can get the forfeiture from any party that received proceeds without having to charge or prosecute those parties - the Feds just seize the accounts (are you listening STOCK PROMOTERS) into which proceeds actually went or COULD have gone (because money is fungible) - and it is not limited to the amount of the illegal proceeds received!
For example, say Stock Promoter David got paid $10,000 for touting services and was paid in cash or stock that he sold. Then ANYTHING Doug bought thereafter and any account he put any cash in thereafter can be seized in their entirety. Say Doug paid $30,000 for a new car - that car can be seized even though Doug only took $10,000 of illegal proceeds - and the Feds keep the whole car (or auction it) and Doug gets nothing back.
There is no need to charge or sue the forfeitees - the Feds just seize the assets. The only recourse the forfeitees have is an ancillary hearing to prove that the asset(s) were NOT purchased with illegal proceeds.
Somebody who took $1 of illegal proceeds and put it in the same checking account they then used to write their mortgage payment check on can (and do) have their homes seized. And cars, boats, retirement accounts, jewelry, watches, etc. And yes the Feds seize OVERSEAS accounts and assets (houses, cars, etc.) all the time. Why do you suppose the DOJ "A" Team has a State Department liason and the State Department has assigned personnel to the SPNG case?
Then the IRS sends out the auditors to find out if the recipients declared the illegal proceeds received as income and paid tax on it. Then the penalties and interest.....
So Promoter David who took $10,000 in promoter fees can lose a $30,000 car AND has to pay tax on the $10,000 even though it was forfeited via the car seizure.
Butt wait, it gets better - because there will virtually certainly be one or more superceding indictments adding defendants and counts.
This is gonna be good!
Shout outt~ to the paid touts and stock promoters.
Stuart Yachnowitz (and the VAEV boys) should be sweating - it's getting hot in New York. Real hot. Time to grab onto a recently refurbished beach resort, catering service, and recently remodeled wedding reception joint and beat the heat. I wonder where all that money for the remodeling came from?????????
Did I explain how Federal asset forfeiture works? Even ONE ILLEGALLY ACQUIRED DOLLAR (even if you didn't KNOW it was illegal) that COULD have been used in acquiring or UPGRADING an asset means the entire asset can be seized even it its value is far beyond the illegal proceeds you received.
OUCH!
Somebody send the VAEV Boyz a towel to daub some of that sweat that should be pouring off of them by now. Anyone who was ever paid a dollar (or got an expense reimbursement) from VAEV should be in panic mode.
STEVEN YEHUDA MOSKOWITZ, it is time for you to GO TO PRISON now, for a looooong, loong time. You ain't never getting outt~.
MICHAEL METTER, you also get to step into the cage now. No return requested.
Uncle Sam will be by to pick up all your stuff shortly. Then the IRS will come visit you in prison - the IRS CRIMINAL DIVISION will not require you to use up any of your monthly allotment of visitation points. The BOP counts visits by the IRS CRIMINAL DIVISION to be courtesy calls or "freebies" (LOL).
BTW, did Frank L. cut a deal? Looks like he'll be testifying.
Welp, this was today's post.... more tomorrow.
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