This may be a 'Dead End Job', but if you play your cards right you can THRIVE after leaving office.
Monday, April 26, 2021
Governor Cuomo Directs State Police Hate Crimes Task Force to Offer Assistance in Investigation of Thrown Rocks Smashing and Breaking Glass Windows and Doors in Two Bronx Synagogues
"I was appalled by a report that an individual threw rocks at glass windows and doors in two Bronx synagogues, smashing and breaking them. We have no tolerance for discriminatory acts that seek to divide us rather than bring us together. I am directing the New York State Police Hate Crimes Task Force to immediately offer assistance in the investigation being conducted by the NYPD. We stand with Jewish New Yorkers — an essential part of the fabric of our state — as we do with all victims of bigotry, and I look forward to seeing this investigation resolved quickly."
Co-Founder Of Hedge Fund Charged With $40 Million Securities Fraud Scheme
Audrey Strauss, the United States Attorney for the Southern District of New York, and Philip R. Bartlett, Inspector-in-Charge of the New York Office of the U.S. Postal Inspection Service (“USPIS”), announced today the arrest yesterday afternoon of ANDREW FRANZONE, the founder and former general partner of FF Fund I L.P. on charges of securities fraud and wire fraud for his role in a scheme to fraudulently induce more than 100 investors to invest approximately $40 million in his fund by, among other things, lying about the fund’s investment strategy, liquidity, and amount of assets under management. FRANZONE was arrested yesterday afternoon in Fort Lauderdale, Florida, on a criminal complaint (the “Complaint”) and will be presented before a magistrate judge in the Southern District of Florida.
Manhattan U.S. Attorney Audrey Strauss said: “Andrew Franzone allegedly promised his clients access to his successful liquid trading strategy and consistent, positive trading returns. As alleged, those promises were lies. Franzone lied about his fund’s investments and performance, and he lied in promising clients that they had could readily access their invested capital. While his investors lost money, Franzone enriched himself. We will continue to work with our law enforcement partners to protect investors from these types of deceptive practices.”
USPIS Inspector-in-Charge Philip R. Bartlett said: “Mr. Franzone allegedly misled investors to believe his fund was liquid and he could cover their redemption requests, in a scheme to lure them in to investing in his hedge fund. This should be a reminder that greed has no boundaries and does not care about a favorable portfolio. Postal Inspectors remind all investors to thoroughly check offers, and if they sound too good to be true, keep your money in the bank.”
As alleged in the Complaint unsealed today in Manhattan federal Court[1]:
FRANZONE co-founded Farrell Franzone Investments LLC in 2010. FRANZONE described Farrell Franzone as an opportunity for investors to invest, through the purchase of limited partnership (“LP”) interests, in a hedge fund purporting to trade preferred securities and options and to maintain a highly liquid portfolio for its investors. FRANZONE renamed the fund FF Fund I (“FF Fund”) in 2014, and served as its general partner from that time until approximately September 2019.
In connection with marketing the FF Fund to investors, FRANZONE touted FF Fund as a “multi-strategy investment program … focus[ed] on three unique asset classes: the preferred stock market, the option market, and the private investment portfolio.” When discussing FF Fund, FRANZONE assured investors that FF Fund was focused on trading in the preferred securities and options markets, which afforded its investors access to quarterly liquidity, and that FF Fund had a track record of consistent positive trading returns since its inception in August 2010.
FRANZONE’s representations about FF Fund’s strategy, liquidity, and performance were largely fabricated. Instead of engaging primarily in preferred securities and options trading that ensured the FF Fund’s liquidity, FRANZONE instead diverted more than 80% of FF Fund’s capital to high-risk, illiquid private investments, many of which were either worthless or significantly impaired. FRANZONE also misappropriated FF Fund’s assets to fund his own personal business interests, including the purchase of an airplane hangar, and lied to investors about FF Fund’s performance and assets under management.
Through these and other fraudulent misrepresentations and omissions, FRANZONE induced over 100 investors to invest more than $40 million in FF Fund. Despite showing investors positive trading returns as late as 2019, FF Fund was unable to fulfill redemption requests in early 2019 and is currently in the process of being liquidated.
FRANZONE, 44, of Fort Lauderdale, Florida, is charged with one count of securities fraud, which carries a maximum potential sentence of 20 years in prison, and one count of wire fraud, which carries a maximum potential sentence of 20 years in prison. The maximum potential penalties are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge.
Ms. Strauss praised the investigative work of the USPIS and thanked the U.S. Securities and Exchange Commission, which has separately filed a civil action against FRANZONE and FF Fund Management.
The allegations contained in the Complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.
[1] As the introductory phrase signifies, the entirety of the text of the Complaint and the description of the Complaint set forth below constitute only allegations, and every fact described should be treated as an allegation.
Councilman Mark Gjonaj's NYC Moving Forward Week in Review - 4/23/2021
Dear Friends,
I hope you and your families are doing well as we are moving forward to warmer weather, businesses and schools reopening in person operations - hand in hand with getting the Covid-19 vaccine, getting tested, social distancing and wearing a mask.
This week we were proud to celebrate Earth Day in a series of events, park cleanups, graffiti removals, reusable bag giveaways, as well as voting on important legislation to reduce and re-use food waste.
In an effort to keep our neighborhoods and commercial corridors cleaner, businesses in City Island, who signed up for our Adopt a Trash Can program, received the Trash Cans. We are looking forward to a successful program as we roll it in other neighborhoods.
Team Gjonaj was proud to join forces with the NYPD 45th Precinct Domestic Violence Unit as we hosted an event in honor of Sexual Assault Awareness Month, to further raise awareness about sexual assault and violence.
April is National Pet Month and we were glad to do a Pet Food Giveaway in City Island, in partnership with Animal Care Center of NYC and meet many of the lovely City Island furry friends and their owners.
Legislatively as part of the NYC Council Committee on Cultural Affairs, we held an oversight hearing to investigate ways to increase diversity in the arts and in our city’s cultural institutions - including, resolving the ethnic pay gap within cultural organizations and uplifting up nonprofits that are dedicated to supporting minorities in the arts.
We are proud of serving you and being with you throughout this pandemic. We are continuing to give out food boxes, offer Rapid Testing and many more services throughout our community. Please do not hesitate to contact my office with any issues or concerns at 718-931-1721 or email at MGjonaj@council.nyc.gov.
Sincerely,
NYC Councilman Mark Gjonaj
District 13, Bronx
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Sunday, April 25, 2021
Governor Cuomo Updates New Yorkers on State Vaccination Program
139,416 Doses Administered in the Last 24 Hours
More than 1.1 Million Doses Administered Over Past Seven Days
Vaccine Dashboard Updated Daily on the State's Vaccine Program; Go to ny.gov/vaccinetracker
Governor Andrew M. Cuomo today updated New Yorkers on the state's vaccination program. 139,416 doses have been administered across the state's vast distribution network in the last 24 hours, and more than 1.1 million doses have been administered over the past seven days. The week 19 allocation of 1,245,960 first and second doses is expected to finish arriving today.
"Our providers are working around the clock to get more shots into arms, and the best way we can support them is by getting vaccinated and continuing to practice the safe behaviors we know will help defeat COVID once and for all,"Governor Cuomo said. "The momentum is on our side and to keep our progress moving in the right direction, we have not only continued to expand access to the vaccine, but we are working hard every day to fight hesitancy as well. We will win the war against this virus, but we can only do it if we work together as one New York community."
New Yorkers can schedule an appointment at a state-run mass vaccination site on the Am I Eligible App or by calling 1-833-NYS-4-VAX. People may also contact their local health department, pharmacy, doctor or hospital to schedule appointments where vaccines are available, or visit vaccinefinder.org to find information on vaccine appointments near you.
STATEWIDE BREAKDOWN
Total doses administered - 14,435,026
Total doses administered over past 24 hours - 139,416
Total doses administered over past 7 days - 1,137,695
Percent of New Yorkers with at least one vaccine dose - 44.1%
Percent of New Yorkers with completed vaccine series - 31.1%
CITY TO IMMEDIATELY RESUME USE OF SAFE AND EFFECTIVE JOHNSON & JOHNSON VACCINE AFTER FEDERAL GOVERNMENT LIFTS PAUSE
Following a decision by the U.S. Food and Drug Administration (FDA) and Centers for Disease Control and Prevention (CDC) to lift the pause on administration of the Johnson & Johnson/Janssen (Johnson and Johnson) vaccine, Mayor de Blasio announced that the City will immediately resume use of the vaccine.
“The one-shot Johnson & Johnson vaccine is back and New York City will immediately resume our innovative mobile, pop-up, and homebound vaccination programs with this shot,” said Mayor Bill de Blasio. “I received the Johnson & Johnson vaccine along with our Health Commissioner Dr. Chokshi. We know firsthand that the vaccine is safe and effective, and now it’s easier than ever to get your shot. I encourage all New Yorkers to join the millions of your friends, family and neighbors who’ve been vaccinated. You can lead our city’s comeback.”
“The joint CDC and FDA recommendation to resume the use of the Johnson & Johnson vaccine with an updated warning shows that our safety system works,” said Health Commissioner Dr. Dave Chokshi. “I received the Johnson & Johnson vaccine, and I trust it is safe and effective. If I had the chance to decide again, knowing what I know now, I would still choose to receive the Johnson & Johnson vaccine.”
With the pause on use of the vaccine lifted, City-run operations such as in-home vaccination for homebound New Yorkers, mobile buses and vans, pop-up sites at houses of worship and other locations will resume use of Johnson & Johnson. Some providers will first exhaust their allocation of Pfizer or Moderna vaccines, which were used while the Johnson & Johnson evaluation was underway. The NYC Department of Health and Mental Hygiene will continue its extensive outreach to providers and clinicians to ensure they are aware of the new federal guidance.
New Yorkers can make a vaccine appointment at vaccinefinder.nyc.gov, call 877-VAX-4-NYC or walk in at any City-run site and get vaccinated.
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Statement from Congressman Jamaal Bowman, State Senator Alessandra Biaggi, State Assemblymember Jeffrey Dinowitz, and Councilmember Eric Dinowitz Regarding Attacks against Synagogues in the Bronx
In response to anti-Semetic vandalism and assault in the Riverdale section of the Northwest Bronx, Rep. Jamaal Bowman, State Sen. Alessandra Biaggi, State Assembly member Jeffrey Dinowitz, and Councilmember Eric Dinowitz issued the following statement Sunday:
“Over the weekend we received the horrific news of a string of hate crimes and vandalism at four local synagogues and places of worship in Riverdale. Our teams have been in close communication with community leaders and the NYPD in order to work towards the physical and psychological safety of the community. We are proud to represent Riverdale — a neighborhood that is inclusive, accepting, and loving. The rise in hate crimes towards Jewish people is alarming and deeply painful to see. Hate has no place here.
“We condemn in the strongest possible terms the hate crimes and vandalism that are occurring in Riverdale. No one should be attacked or living in fear because of their race, religion, ethnicity, or sexual orientation. The threat towards synagogues and other Jewish institutions is real and we must treat these issues head on. Jewish people have been the victims of hate crimes and persecution for centuries, and this week’s events are a somber reminder that we must all be vigilant in weeding out antisemitism. Our hearts go out to everyone in our district who has been impacted by these hate crimes.
“Our offices are closely monitoring this situation. We thank Captain Emilio Melendez, all the NYPD investigators, the NYS Hate Crime Task Force, our colleagues in government and all the rabbis and community leaders who are involved in ensuring that justice is served. This is a true demonstration of unity and is an example of the resilience of Riverdale. We urge that anyone with relevant information reach out to the 50th precinct. If you see a crime being committed, call 911 immediately. We will continue to unite as a community to make sure it is loud and clear that hate has no place here.”