 |
| Mair Faibish, courtesy libn.com |
 |
| smiling faces of Synergy Brands, not smiling anymore.... |
According to US Attorney's Office, eastern district, NY, Mair Faibish, 55 years old, received a 63 months prison sentence after being convicted back in 2014 of operating a check kiting scheme to fraudulently raise the value of the company, that was involved in manufacturing food distribution Basically, he brought insufficient funds in checks back and forth to Canada and then he used the one day float to overstate the value of the company. This is the key part of the story...."Because the banks made deposited funds immediately available for withdrawal, the scheme artificially inflated the companies’ account balances." His actions caused the banks to lose 26 million dollars. See story here...https://www.justice.gov/usao-edny/pr/former-ceo-long-island-s-synergy-brands-inc-sentenced-63-months-prison-operating
What was he thinking, that he would never get caught? This goes against the laws of nature. According to Jeremiah 17:11, when you make wealth dishonestly, you will lose it and be proved a fool.
Hopefully, Mr. Faibish will see the reality of his actions when he sits in Federal Prison and he should realize that the judge gave him a break by giving him only 63 months sentence, while the prosecutor requested 80 years.
What can he expect in Federal Prison? Hopefully he will end up in a camp like Otisville where he can have good Shabbos meals and a quiet atmosphere, unlike other prisons that are substantially more dangerous. To see my story, go here...http://www.amazon.com/PRISON-expect-Federal-Bureau-Prisons-ebook/dp/B011GTWLOG
No comments:
Post a Comment