Goldman banker-turned-tech investor avoids prison despite fraud conviction

10/9/2021 10:15:00 PM

Goldman banker-turned-tech investor avoids prison despite fraud conviction

Goldman banker-turned-tech investor avoids prison despite fraud conviction

NEW YORK: A former Goldman Sachs analyst and technology entrepreneur who spent 10 months in harrowing conditions in Colombian prisons avoided being sentenced to additional time in a US prison on Friday (Sep 10) following his conviction on fraud offenses. Kaleil Isaza Tuzman, 49, the former chief of Ki

LinkedIn NEW YORK: A former Goldman Sachs analyst and technology entrepreneur who spent 10 months in harrowing conditions in Colombian prisons avoided being sentenced to additional time in a US prison on Friday (Sep 10) following his conviction on fraud offenses...10 September 2021, 10:05 am · 2-min read People sit and wait after receiving a dose of the Sinopharm COVID-19 coronavirus vaccine in Singapore on 7 September 2021.

Kaleil Isaza Tuzman, 49, the former chief of Kit Digital Inc, had been convicted in December 2017 of conspiring to commit both securities fraud and wire fraud at the video technology company.US District Judge Paul Gardephe in Manhattan, however, said the"horrors" Tuzman experienced in Colombia put him at little risk of committing further crimes."The risk associated with sending Mr.Tuzman back to prison, the risk to his mental health, is just too great," Gardephe said."While in many other cases it has been my practice to sentence white-collar defendants for these sorts of crimes to a substantial sentence, in good conscience I can't do that here."This will be less disruptive to people, and yet capture a significant majority of infected cases," Health Minister Ong Ye Kung and MTF co-chair said at the conference.

" Gardephe also ordered three years of supervised release.Tuzman, a 1995 magna cum laude Harvard University graduate, has been under home confinement since July 2016.He achieved earlier renown when his company govWorks.com was featured in the 2001 documentary"Startup.com.Close contacts of a COVID-19 case will be issued Health Risk Warnings (HRW) or Health Risk Alerts (HRA) and should get tested to minimise the risk of spread of disease.

" The office of US Attorney Audrey Strauss in Manhattan declined to comment.Prosecutors had sought 17-1/2 to 22 years in prison.Tuzman was charged with deceiving shareholders of Kit Digital, a name drawn from his initials, by inflating revenue with sham software license agreements, and inflating trading volume in its shares to justify a higher stock price.Kit Digital filed for bankruptcy in 2013.Tuzman had said that after his 2015 arrest in Colombia, he endured"subhuman" conditions in three maximum-security prisons there, including five months in solitary confinement, food and water contamination, and being raped at knifepoint.Story continues On 6 September, MTF announced that sectors currently on mandatory 14-day FET RRT will need to increase their frequency of testing to every seven days starting from next Monday.

Before being sentenced, Tuzman expressed contrition."I was a liar.I was dishonest," he said."I will never make these mistakes again." Last month, Gardephe sentenced Tuzman's co-defendant Omar Amanat, who invested in the studio behind the"Twilight" films, to five years in prison on his fraud conviction.

The case is US v.Tuzman, US District Court, Southern District of New York, No.15-cr-00536.Source: Reuters.

Read more:
CNA »
Loading news...
Failed to load news.

Parliament: MPs file 10 questions on Yale-NUS, USP merger for Sept 13 sitting

Foodie Friday: What The Stars Ate This Week (Sep 3-10)

COVID quarantine period to be cut from 14 days to 10 days: Ong Ye KungThe period for individuals under COVID-19 quarantine will be reduced from 14 days to 10 days as the Delta variant has a shorter incubation period, the multi-ministry taskforce said.

3 years 10 months’ jail for man who gave S$1,000 to Isis militant to facilitate terrorist acts in SyriaSINGAPORE — A 50-year-old man was on Thursday (Sept 9) jailed three years and 10 months for providing S$1,000 to a militant of terrorist group Islamic State in Iraq and Syria (Isis) several years ago to facilitate terrorist acts in Syria.

Quarantine period for those exposed to COVID-19 to be cut from 14 to 10 days: MOHCOVID19 quarantine period for people exposed to the virus to be cut from 14 to 10 days as the Delta variant has a shorter incubation period: MOH What about returnees from overseas? quarantine is not reduced in tandem? Especially those tested negative on arrival?