Solomon Dwek Gets 6 Years In Bank Fraud Scheme

Dwek faces a second sentencing date tomorrow morning for additional criminal charges involving fraudulent bank loans.

Solomon Dwek

The Star Ledger reports:

Solomon Dwek — the informant behind the sweeping federal corruption sting that ensnared politicians, rabbis and even a black market kidney broker — was sentenced today to six years in prison for his role in an unrelated $50 million check-kiting scheme.

He was facing nine to 11 years under the terms of his plea deal, which led to his cooperation agreement with the government.

Federal prosecutors urged U.S. District Judge Jose Linares in Newark to impose a lesser sentence, citing the extensive scope of his efforts in a three-year FBI undercover operation that became the largest sting operation in New Jersey history.

The U.S. Attorney’s office filed what is known as a 5K letter to Linares, detailing the assistance Dwek provided to the investigation and asking the judge to depart from federal sentencing guidelines in acknowledgement of that cooperation.

Also seeking leniency was Dwek’s attorney, who cited his client’s history of mental illness. In court filings, Dwek was said to be suffering from bipolar disorder and chronic high anxiety, characterized by “ mental excitement, racing thoughts, irritability, illusory thinking, efforts to engage in multiple activities at the same time, poor insight and inability to foresee consequences.”

Dwek faces a second sentencing date tomorrow morning in Monmouth County on additional charges involving fraudulent bank loans.…

 

Comments

[Jesus]

May Jesus be with him

[albert]

He steals $50 million and all he gets is 6 years. He deserves 50 years! What a piece of dreck!

[Highbridge Jew]

Where is Nat Lewin now? Doesn't he represent Sephardim? The shame, the shame.

[religious ppl are financial fraudsters]

...' a second sentencing date for additional criminal charges'.....

it sounds like sholom rubashkin .

[Abracadabra]

One minute - is Dwek a religious Jew? This can't be right. I thought the US court is anti-Semitic and sends religious Jews to jail for longer than they should be in jail. What happened here? Only 6 years for $50 million?

Oh, oh - you mean he cooperated with the government? You mean he didn't thumb his nose at the government? You mean he didn't destroy evidence and perjure himself on the stand?

So, it really is just a matter of the sentencing guidelines, and has nothing to do with him being a religious Jew? Gosh! Who knew?! And here I spent years thinking that the US courts were just out to get religious Jews like Rubashkin. I wonder where I could have gotten that silly notion from?

[Isa]

Dwek got down on his knees and begged forgiveness
Rubashkin said in effect "Fxxk Yxx"

Dwek also pled guilty
Rubashkin went to trial

Dwek fingered other players in the scheme
Rubashkin: no cooperation

Dwek = 6 years
Rubashkin = ~27

Quit crying you trolls

[Sheigits]

Just think of what's waiting for him inside, for being a snitch

[Chaim Z]

Abracadabra, if anything, what you're saying makes the government seem worse. This guy stole hundreds of millions of dollars. The charges never came out because he switched sides to early, but his whole empire was a fraud. All he ever had were overvalued property and the loans he fraudulently got on them. He bribed, laundered money, and schemed in the hundreds of millions of dollars. But because he turned in a bunch of people who gave $50 bribes and one or two big fish, he gets what a black person would get for having a week's worth of cocaine.

[Shmarya]

Posted by: Chaim Z | October 18, 2012 at 07:54 PM

No.

He helped the government catch people who were bribing public officials – a much more serious crime than bank fraud.

He also helped the government catch ahredi rabbis who were launders millions of dollars through their charities and through conspirators in Israel.

As I'm sure you know, bank fraud is punished primarily by the amount of loss to the lenders, and because the lends caught Dwek, their loss was not $50 million.

[Realist Jew]

"In court filings, Dwek was said to be suffering from bipolar disorder and chronic high anxiety, characterized by “ mental excitement, racing thoughts, irritability, illusory thinking, efforts to engage in multiple activities at the same time, poor insight and inability to foresee consequences.”

Lmao.

[dh]

Did he pay restitution?

[Friend of Aram Sova]

He was really hoping to get enough fellow Syrian Jewish community members in the same jail to start a separate minyan following their Nusach. And he targeted people like Rabbi Kessin, as an old rival of his dad.

[td]

government informant - it sounds like sammy the bull - john gotti's pal , the italiano organized crime fam -
dweck got less jail term , bc informed .

still more jail term to come with 2nd sentencing . prob 4 to 7 more years .
so, 6 + 7 = 13 estimated .

[Chaim Z]

Everything needs to be seen in context, Shmarya. There are two major reasons that this operation smells worse than many other "informant" cases. First of all, most of the bigger fish didn't seem to be his regular associates. It's not like they got an "in" and helped bring down a crime network, the way the early news reports implied. Rather, they turned him loose to bring down whom he could, and "paid" their new investigator in lowered jail time. It seems easier to stomach leniency when a cooperating witness is renunciating, to the extent possible, his own crimes.
Secondly, most of the people that were arrested, although there were cumulatively many, were not guilty of crimes that approached what he did. At least one of the people he "brought down" was someone who only ever committed a crime because of Dwek. One went to prison for slipping a couple hundred bucks to an inspector. A bunch of politicians went to prison because they accepted 15k, 25k, etc. It's great to bring down corrupt politicians, especially since I assume the state had to prove that they'd done it before the state's witness convinced them to. But compare a $200m ponzi schemer to the people he brought down, and it's not even close.
Yeah, I know he was only charged with bank fraud, at least initially. But everyone knows that he was essentially running a massive ponzi scheme based on investing other people's money in properties that he overvalued to get massive loans on. He was involved in gambling and prostitution. If the state had pursued him as hard as they pursued, say, Martha Stewart, he'd have gone to jail for 150 years.
I am not saying this to defend Rubashkin - I don't think the cases are in any way related, and while I agree with the frummies that formally Rubashkin's sentence on his actually charged crimes is severe, he also could have been charged with a hundred other things. But I know people who were affected by Dwek, and getting off the way he did is a sad joke.

[Shmarya]

You need to read up on the facts of the case – and you need to stop lying.

[Chaim Z]

Please identify any inaccurate statements and I will see if I made any mistakes. Here are some sources:
Gambling/prostitution
http://failedmessiah.typepad.com/failed_messiahcom/2010/02/solomon-dwek-owned-gambling-boat-used-for-prostitution-345.html
I'm not going to bother posting the arrest documents for his former manager who was charged for bribing the local inspector "the way he used to" when he first worked for Dwek.
Before I posted my comment I went through the list of people who were arrested because of him, and went through the charges on three or four of them who Wikipedia lists as "political corruption" and they were arrested for accepting 15-25k in bribes. I was wrong about the ponzi scheme - it was apparently $400m.
Also, I don't know why you are so belligerently defending this verdict. Reasonable people can disagree.
I never said the verdict was illegal - I said it was imprudent. Furthermore, and here's an assertion I can't back up, I discussed it with a former AUSA from the Newark office, and while he had left before the story heated up, he expressed similar misgivings based on what he'd seen in the media.

[Chicago Sam]

Dwek may want to consider changing his name to "Dreck."

[restaurant loans]

i just learned something very important now. Thanks for this information