- 11 - of Goldman, petitioner obtained at least $575,000.1 Neither New Gold nor Bridgehampton ever received a repayment of this $575,000. $450,000 Received From William Marion In 1990, William Marion loaned New Gold and Ryer Equities Corp. (Ryer), another corporation controlled by petitioner, $350,000 and $100,000, respectively, for renovation of apartment buildings owned by each corporation. These loans to New Gold and to Ryer were personally guaranteed by petitioner. Some interest on these loans was paid but no payments of principal were made, and the loans remain outstanding. Petitioner’s Conviction For Embezzlement On March 21, 1991, petitioner was indicted by a grand jury of the County of New York on 14 counts relating to petitioner's embezzlement of funds from Votano, the Marion Family Trusts, Saferstein, and Ripps. On December 9, 1991, after a 2-1/2 month jury trial, petitioner was convicted in the Supreme Court of the State of New York, New York County, on all 14 counts, and on January 6, 1992, petitioner was sentenced to concurrent prison terms, the 1 Although the evidence indicates that the total amount of the three forged checks exceeded $575,000, respondent, without explanation, has charged to petitioner with regard to these items additional income of only $575,000. We also use respondent's figure of $575,000.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
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