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Saturday, December 9, 2023
The Bronx Chamber of Commerce - Bronx Business News You Can Use
U.S. Postal Inspector Charged with Mail Theft, Obstruction of Justice, and Money Laundering
A federal grand jury in the Eastern District of Louisiana returned an indictment charging a U.S. Postal Inspector with mail theft, obstruction of justice, and money laundering.
According to the indictment, Michael Morse, 52, of Madisonville, Louisiana, served as a Postal Inspector in the U.S. Postal Inspection Service. In this role, Morse was responsible for investigating and preventing crime that involved the mail, including mail and package theft. Despite this duty, on Nov. 12, 2020, Morse allegedly stole a Priority Mail Express package from a U.S. Postal Service processing and distribution center and removed from the package cash and a global positioning system (GPS) tracking device. Further, Morse allegedly obstructed justice when he knowingly attempted to mislead other law enforcement officers about the package and the GPS device. Morse also allegedly engaged in money laundering when he deposited cash and pre-paid cards constituting proceeds of the mail theft in various cryptocurrency and precious metal accounts.
Morse is charged with one count of mail theft, one count of obstruction of justice, and nine counts of money laundering. If convicted, he faces a maximum penalty of five years in prison on the mail theft count and 20 years in prison on the obstruction of justice and each of the money laundering counts.
Acting Assistant Attorney General Nicole M. Argentieri of the Justice Department’s Criminal Division and Acting Executive Special Agent in Charge Dimitriana Nikolov of the USPS Office of Inspector General’s (USPS-OIG) Special Inquiries Division made the announcement.
The USPS-OIG is investigating the case.
Trial Attorneys Trevor Wilmot and Jacob Steiner of the Criminal Divion’s Public Integrity Section (PIN) are prosecuting the case, with valuable assistance from former PIN Trial Attorney Jolee Porter.
An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
Construction Company President Sentenced To 10 Years In Prison For 25-Year Fraud On The U.S. Government
Sina Moayedi, the Owner of Montage, Inc., Fraudulently Induced U.S. Government Agencies to Pay His Company More Than $125 Million and Also Paid Bribes to a Government Insider
Damian Williams, the United States Attorney for the Southern District of New York, announced that SINA MOAYEDI, the owner of a construction company, Montage, Inc., was sentenced to 10 years in prison, stemming from his 25-year fraud on the United States Government. MOAYEDI pled guilty in April 2023 to conspiracy to commit wire and bank fraud, conspiracy to commit bribery of a public official, and aggravated identity theft. MOAYEDI’s sentence was imposed by U.S. District Judge Jed S. Rakoff, who also presided over his guilty plea.
U.S. Attorney Damian Williams said: “From 1995 until 2021, Sina Moayedi defrauded the U.S. Government and various of its agencies through a sprawling, sophisticated scheme. Moayedi lied repeatedly about his company’s ownership and qualifications, including by claiming that it was woman-owned and Hispanic-owned; he lied to obtain a Top-Secret national security clearance; and he repeatedly paid bribes to a State Department employee to illegally obtain inside information. In total, Moayedi’s company fraudulently obtained more than 25 government contracts worth more than $125 million. Even after he was arrested in this case, Moayedi continued to commit crime, destroying electronic evidence of his frauds. For his brazen fraud on the federal government, Moayedi has now been sentenced to prison.”
According to court filings and statements made in Manhattan federal court:
In 1986, MOAYEDI founded Montage, Inc., a U.S.-based business that is primarily involved in Government construction projects, including embassies, consulates, military posts, and marine barracks around the world. From 1995 to 2021, MOAYEDI defrauded the U.S. Government — including the State Department, Treasury Department, Department of Defense, and General Services Administration — by lying in various respects. In bids for contracting work, MOAYEDI mispresented his company’s ownership, his employees’ qualifications, his company’s construction experience, and his company’s financial condition, among other things.
As to ownership, MOAYEDI falsely represented, repeatedly, that Montage was a female-owned business (or a female- and minority-owned business) in order to secure unmerited advantages in the bidding process. In fact, MOAYEDI founded, owned, ran, and controlled Montage, and he made all material decisions on Montage’s behalf. As MOAYEDI revealed to a bank that inquired about Montage’s ownership status in 2016, “I am the sole owner and president of Montage and have always been.”
As to his employees’ qualifications, MOAYEDI significantly overstated the qualifications of various Montage employees in order to, among other things, meet State Department and contractual requirements for minimum experience in certain key positions. For instance, MOAYEDI claimed, falsely, that certain Montage employees possessed engineering degrees. He also claimed, falsely, that certain individuals worked for Montage when, in fact, they did not.
As to Montage’s construction experience, MOAYEDI submitted bids to the Government in which he repeatedly falsified Montage’s purported construction experience in order to burnish the company’s alleged credentials. To ensure that the U.S. Government did not uncover these lies, MOAYEDI “backstopped” this fabricated experience by creating fraudulent email accounts and personas, so that someone else appeared to be “vouching” that Montage had performed this prior work. This required creating online web domains (the “Fabricated Domains”), so that Montage’s purported references appeared legitimate. These Fabricated Domains were extremely similar to, but one character or word different from, the legitimate web domains associated with actual entities.
As to financial condition, MOAYEDI paid a Certified Public Accountant to prepare at least four different sets of books and records, each of which was provided to a different recipient (e.g., one fraudulent set for the U.S. Government, another fraudulent set for the bank, another fraudulent set for a company that sold construction bonds, etc.).
And to ensure Montage’s eligibility for sensitive U.S. Government contracts, MOAYEDI lied to obtain and maintain his Top-Secret national security clearance, including by concealing his ties to Iran, such as his dual citizenship with Iran, his Iranian passport, and his travel to Iran.
Further, between 2014 and 2020, MOAYEDI repeatedly paid cash bribes and kickbacks to an engineer in the State Department’s Overseas Building Operations division, May Salehi, in exchange for confidential inside information relating to several State Department construction projects, including projects in Ecuador, Spain, and Bermuda. For instance, in late 2016 and early 2017, MOAYEDI paid $60,000 in cash to Salehi after Salehi provided confidential inside bidding information to MOAYEDI about the relationship between Montage’s original bid and his competitors’ bids — information that allowed Montage to raise its bid by nearly $1 million yet remain the lowest bidder on a construction project that was ultimately awarded to Montage.
In addition to fraudulently obtaining government contracts, MOAYEDI’s company also committed fraud in the execution of government contracts, including by using substandard materials, using unqualified personnel, and falsifying an architect’s signature and stamp on architectural plans that had not been reviewed by the architect, including plans that related to safety and structural issues, such as fire protection, roof design, and structural steel drawings.
MOAYEDI also defrauded his primary bank (“Bank-1”) through various misrepresentations. Montage had a multimillion-dollar line of credit at Bank-1, which MOAYEDI maintained through misrepresentations about Montage’s ownership and the value, progress, status, and existence of construction projects that Montage was performing for the U.S. Government. For instance, in or about both 2014 and 2019, MOAYEDI made material misrepresentations to Bank-1 in support of an annual extension of Montage’s line of credit, including misrepresentations about purportedly lucrative “classified” government construction projects with distinctive names like “Area 6,” which, in fact, did not exist.
MOAYEDI also obstructed justice in multiple respects: (i) in September 2021, shortly after his release on bail in this case, MOAYEDI destroyed electronic evidence of his fraud on the U.S. Government by deleting six Fabricated Domains, which (as noted) he had used to help inflate Montage’s purported construction experience in bids for U.S. Government construction projects; (ii) shortly after the execution of search warrants at Montage’s offices in September 2020, MOAYEDI witness tampered by pressuring a co-conspirator to lie to investigators; and (iii) during a civil lawsuit between the State Department and Montage, MOAYEDI lied during a sworn deposition in 2019 by falsely claiming that a Hispanic woman had been the President of Montage “ever since” 2002 and that he was merely the Vice President of Montage.
Finally, in October 2023, the Court held a multiday Fatico hearing regarding the quality of construction that MOAYEDI and Montage provided the State Department. The Court determined that MOAYEDI “provided grossly inadequate construction for several of the contracts of which he was in charge” and “that these numerous defects were intentional.” In particular, the Court found that, “[r]epeatedly, Moayedi falsely inflated the credentials of key personnel -- and in some cases, submitted names of people who never even worked for Montage -- that he touted to the State Department to win bids, only to send in their stead people that he knew were patently unqualified for their roles once he secured the contract in question.”
In addition to his prison sentence, MOAYEDI, 68, of Chevy Chase, Maryland, was sentenced to three years of supervised release and ordered to pay restitution in the amount of $6,588,679.63 and forfeit $17,795,098.50.
May Salehi was previously sentenced to one year in prison, three years of supervised release, a fine of $500,000, and forfeiture of $60,000.
Mr. Williams praised the exceptional investigative work of the State Department, Office of Inspector General; Special Agents from the U.S. Attorney’s Office for the Southern District of New York; and the Internal Revenue Service.
Attorney General James Obtains Court Order Stopping Militant Anti-Abortion Group from Blocking Access to Abortion Care
Judge Prohibits Red Rose Rescue from Coming Within 15 Feet of Any Reproductive Health Care Facility in 13 Downstate Counties
New York Attorney General Letitia James announced that a federal judge granted her office’s motion for a preliminary injunction against Red Rose Rescue, an anti-abortion extremist group. In June 2023, the Office of the Attorney General (OAG) filed a lawsuit against members of Red Rose Rescue for invading reproductive health care clinics, threatening staff and clinicians, and terrorizing patients. The next month, OAG filed a motion for a preliminary injunction to stop Red Rose Rescue from blocking access to abortion care while the case proceeds.
In an order handed down yesterday evening, Federal Judge Kenneth M. Karas subjected Red Rose Rescue to a 15-foot buffer zone around all clinics within the jurisdictions of the Southern District of New York (SDNY) and the Eastern District of New York (EDNY).
“This important decision will protect reproductive health care providers and the patients they serve from Red Rose Rescue’s hateful, militant tactics while our lawsuit proceeds,” said Attorney General James. “Red Rose Rescue has made it clear that they intend to continue obstructing access to abortion care, but we will not allow them to harass New Yorkers with their bigotry. The right to make decisions about our own bodies belongs to us, and us alone, and New Yorkers have my word that I will always fight to defend everyone’s freedom to safely access health care.”
Red Rose Rescue is a radical anti-abortion group whose members seek to prevent abortions by trespassing into private medical facilities and clinics and refusing to leave until they are physically removed by law enforcement. In the past two years, Red Rose Rescue has delayed and interfered with the provision of reproductive health care services at three clinics in New York. At each of these clinics, multiple patients’ appointments were delayed or missed due to Red Rose Rescue’s actions.
Judge Karas found that OAG had shown irreparable harm and a likelihood of success on the merits in the ongoing lawsuit. He also determined that a buffer zone was in the public interest and would not infringe on defendants’ First Amendment rights. The preliminary injunction applies to the individual defendants in the lawsuit and all affiliates of Red Rose Rescue and protects clinics in the following downstate counties: New York, Bronx, Westchester, Rockland, Putnam, Orange, Dutchess, Sullivan, Kings, Nassau, Queens, Richmond, and Suffolk.
Following the Supreme Court’s decision to overturn Roe v. Wade, Attorney General James launched a pro bono legal hotline to provide legal support to patients and health care providers nationwide. New Yorkers are encouraged to call the New York abortion rights legal hotline at (212) 899-5567 for free legal information and resources about accessing abortion.
Governor Hochul Urges New Yorkers to Prepare for Heavy Rain, Gusty Winds and Snow Sunday and Monday
Rainfall Totals From 1-3 Inches Across the State and Up to Five Inches of Rain in Isolated, Elevated Areas
Heavy, Wet Snow and Gusty Winds Could Impact Monday Travel and Cause Power Outages, Especially in North Country, Mohawk Valley, Capital District and Mid-Hudson Regions
New Yorkers Urged to Use Caution When Traveling in Impacted Areas, Especially During Monday Morning Commute
Lake Effect Snow Expected Monday Off Lake Erie and Lake Ontario
Governor Kathy Hochul urged New Yorkers across the state to prepare for a major weather system that is forecast to bring rain, gusty winds, and snow to most areas. Beginning late Sunday, moderate to heavy rain is expected to impact most of the state with rainfall totals from 1-3 inches expected for most areas and the potential for up to five inches in isolated, elevated areas. Rain will eventually transition to heavy, wet snow during the event with higher amounts of snow expected in the North Country, Mohawk Valley, Capital District, and Mid-Hudson regions. The combination of heavy, wet snow with strong winds may lead to hazardous travel and power outages in some areas. Statewide wind gusts are expected to be strongest downstate, particularly along the south shores of Long Island with up to 50 mph gusts, although isolated, stronger gusts are possible in some locations. New Yorkers should use extra caution when traveling in impacted areas, especially during commuting hours on Monday.
“This weekend we are watching a major weather system bringing rain, snow and gusty winds that could cause some dangerous issues for New Yorkers, including flooding, dangerous travel, and power outages,” Governor Hochul said. “I have directed state agencies to monitor this weather system throughout its duration and be ready to respond to any requests for assistance. I urge all New Yorkers to prepare now and plan for the next couple of days as the forecast comes into clearer view.”
Lake effect snow is also forecasted on Monday downwind of Lake Erie and Lake Ontario into Central New York, the western and southern Adirondacks, and the Catskills. Off Lake Erie, peak snowfall rates of up to two inches of snow an hour with up to a foot of snow is expected for areas south of Buffalo. For areas near Lake Ontario, peak snowfalls rates of up to three inches per hour are expected, possibly impacting Syracuse around the Monday evening commute. New Yorkers should monitor the weather for their area throughout the weekend as forecasts will continue to develop over the next couple of days.
For a complete listing of weather alerts and forecasts, visit the National Weather Service website at https://alerts.weather.gov. New Yorkers are encouraged to sign up for emergency alerts by subscribing to NY Alert at https://alert.ny.gov/, a free service providing critical emergency information to your cell phone or computer.
Agency Preparations
New York State Division of Homeland Security and Emergency Services
The Division is actively monitoring the weather forecast and coordinating the State's response to the weather event. Office of Emergency Management staff are in contact with local counterparts and are prepared to facilitate requests for assistance.
The Division is prepared to deploy the following assets and shelter supplies from the State's stockpiles, if necessary:
- 1,515 generators
- 536 chainsaws
- 954 portable heaters
- 48,636 MREs
- 345,432 bottles & cans of water
- 7,877 cots
- 8,149 blankets
- 11,220 pillows
New York State Department of Transportation
The State Department of Transportation is preparing for the coming weather event with more than 3,600 supervisors and operators available. Crews will be actively monitoring storm conditions, providing snow and ice response as needed, while patrolling the state highway system for potential hazards throughout the event.
Statewide equipment numbers are as follows:
- 1,608 large plow trucks
- 335 loaders
- 156 medium duty plows
- 51 tow plows
- 37 snow blowers
- 23 pickup trucks with plows
- 19 graders
For real-time travel information, motorists should call 511 or visit https://www.511ny.orgor the mobile site at m.511ny.org, New York State's official traffic and travel information source.
Thruway Authority
The Thruway Authority is ready to respond with 688 operators and supervisors available. Statewide equipment numbers and resources are listed below:
- 349 large and medium duty plow trucks
- 11 tow plows
- 67 loaders
- More than 127,000 tons of salt on hand
Variable Message Signs and social media are utilized to alert motorists of winter weather conditions on the Thruway.
The Thruway Authority encourages motorists to download its mobile app which is available for free on iPhone and Android devices. The app provides motorists direct access to real-time traffic information, live traffic cameras, and navigation assistance while on the go. Motorists can also sign up for TRANSalerte-mailsand follow @ThruwayTrafficon Xfor the latest traffic conditions along the Thruway.
New York State Department of Public Service
Utility companies regulated by the Department of Public Service have approximately 5,500 workers available statewide to engage in repair and restoration efforts for the winter weather system. DPS staff will track utilities' work throughout the event and ensure utility companies shift appropriate staffing to regions that experience the greatest impact. If your service is interrupted, visit the DPS Utility Service Interruptions website for tips.
New York State Police
State Police are monitoring weather conditions and are prepared to deploy additional Troopers as needed. All State Police four-wheel drive and specialized vehicles, including snowmobiles and utility terrain vehicles, are staged and ready for immediate response, and all emergency power and communications equipment has been tested.
New York State Department of Environmental Conservation
DEC Emergency Management staff, Environmental Conservation Police Officers, Forest Rangers, and regional staff are on alert and monitoring the developing situation. All available assets are positioned to assist with any emergency response.
New York State Office of Parks, Recreation and Historic Preservation
New York State Park Police and park personnel are on alert and closely monitoring weather conditions and impacts. Response equipment is being fueled, tested, and prepared for storm response use. Park visitors should check https://parks.ny.gov or call their local park office for the latest updates regarding park hours, openings, and closings.
Metropolitan Transportation Authority
The Metropolitan Transportation Authority is closely monitoring weather conditions to ensure safe, reliable service. MTA employees will be poised to respond to any weather-related issues, including removal of any downed trees that may fall across tracks.
Due to forecasted high wind conditions, MTA Bridges and Tunnels will implement a soft ban on empty tractor-trailers and tandem (piggyback, dual, triple, etc.) trucks starting 6:00 p.m. Sunday evening. Based on the current forecast and the overall timing of this weather event, it is anticipated that this soft ban will be in place until 6:00 a.m. Monday morning.
In addition to the soft ban, the pedestrian walkways on the Cross Bay Veterans Memorial and Marine Parkway bridges will be closed during this period. The pedestrian walkways on the Robert F. Kennedy and Henry Hudson Bridges will remain open but will close when/if conditions warrant.
Customers are encouraged to check https://new.mta.info for the latest service updates,
and to use caution while navigating the system. Customers should also sign up for real-time service alerts via text or email. These alerts are also available via the MTA's apps: MYmta and TrainTime.
Port Authority
The Port Authority monitors weather conditions across all its facilities. In the event of severe weather conditions, the agency issues regular travel alerts and updates as needed. For the latest information about Port Authority facilities, please check social media, sign up for PA alerts or download one of the PA mobile apps, including RidePATH which provides real-time updates and alerts for PATH service.
Safety Tips
Travel
Some of the most important tips for safe driving include:
- Do not drive unless necessary.
- If you must travel, make sure your car is stocked with survival gear like blankets, a shovel, flashlight and extra batteries, extra warm clothing, set of tire chains, battery booster cables, quick energy foods and brightly colored cloth to use as a distress flag.
- If you have a cell phone or other communications device such as a two-way radio available for your use, keep the battery charged and keep it with you whenever traveling. If you should become stranded, you will be able to call for help, advising rescuers of your location.
- The leading cause of death and injuries during winter storms is transportation accidents. Before getting behind the wheel, make sure that your vehicle is clear of ice and snow; good vision is key to good driving. Plan your stops and keep more distance between cars. Be extra alert and remember that snowdrifts can hide smaller children. Always match your speed to the road and weather conditions.
- It is important for motorists on all roads to note that snowplows travel at speeds up to 35 mph, which in many cases is lower than the posted speed limit, to ensure that salt being dispersed stays in the driving lanes and does not scatter off the roadways. Oftentimes on interstate highways, snowplows will operate side by side, as this is the most efficient and safe way to clear several lanes at one time.
- Motorists and pedestrians should also keep in mind that snowplow drivers have limited lines of sight, and the size and weight of snowplows can make it very difficult to maneuver and stop quickly. Snow blowing from behind the plow can severely reduce visibility or cause whiteout conditions. Motorists should not attempt to pass snowplows or follow too closely. The safest place for motorists to drive is well behind the snowplows where the roadway is clear and salted. Never attempt to pass a snowplow while its operating.
Power Outages
- Check with your utility to determine area repair schedules.
- Turn off or unplug lights and appliances to prevent a circuit overload when service is restored; leave one light on to indicate when power has been restored.
- If heat goes out during a winter storm, keep warm by closing off rooms you do not need.
- To Report an Electric Outage, Call:
- Central Hudson: 800-527-2714
- Con Edison: 800-752-6633
- National Grid: 800-867-5222
- NYSEG: 800-572-1131
- O&R: 877-434-4100
- PSEG-LI: 800-490-0075
- RG&E: 800-743-1701
Heating Safety
- Use only safe sources of alternative heat such as a fireplace, small well-vented wood or coal stove or portable space heaters.
- When using alternative heat sources such as a fireplace, woodstove, etc. always make sure you have proper ventilation. Always follow manufacturer's instructions.
- Keep curtains, towels, and potholders away from hot surfaces.
- Have a fire extinguisher and smoke detectors and make sure they work.
- If you use kerosene heaters to supplement your regular heating fuel, or as an emergency source of heat, follow these safety tips:
- Follow the manufacturers' instructions.
- Use only the correct fuel for your unit.
- Refuel outdoors only and only when the unit is cool.
- Keep the heater at least three feet away from furniture and other flammable objects.
- When using the heater, use fire safeguards and ventilate properly.
For more winter safety tips, visit https://dhses.ny.gov/safety. For all non-emergency service needs in New York State before, during or after a storm, call 211 or visit 211nys.org.
Permits Filed For 1806 Anthony Avenue In Tremont, The Bronx
Permits have been filed for a nine-story residential building at 1806 Anthony Avenue in Tremont, The Bronx. Located between Prospect Place and East 176th Street, the lot is within walking distance of the 174-175th Streets subway station, serviced by the B and D trains. Aziza Anderson of New York-based nonprofit Unique People Services is listed as the owner behind the applications.
The proposed 200-foot-tall development will yield 60,598 square feet designated for residential space. The building will have 111 residences, most likely rentals based on the average unit scope of 545 square feet. The masonry-based structure will also have two cellar levels and a 30-foot-long rear yard.
Newman Design Architects is listed as the architect of record.
Demolition permits were filed in 2021 for the three-story home on the site. An estimated completion date has not been announced.
Friday, December 8, 2023
Governor Hochul Announces State Landmarks to be Illuminated to Commemorate International Human Rights Day and 75th Anniversary of the Universal Declaration of Human Rights
New York State Division of Human Rights Releases Annual Report Highlighting Achievements in Past Fiscal Year
Governor Kathy Hochul today announced that landmarks would be lit blue on Friday night to commemorate International Human Rights Day, which is observed every year on December 10 in honor of the United Nations General Assembly's adoption of the Universal Declaration of Human Rights. This year marks the 75th anniversary of the milestone document which enshrines the rights that all people are entitled to as human beings, regardless of race, color, religion, sex, language, political or other opinion, national or social origin, property, birth or other status.
“New York has the proud distinction of being the first state in the nation to enact a Human Rights Law, and it is with unwavering commitment that we will continue to lead the nation in protecting these fundamental rights,” Governor Hochul said. “Today, we honor the adoption of the Universal Declaration of Human Rights and look to the future of this great state with optimism and pride as we advance our mission to make New York a welcoming home to all.”
New York State Division of Human Rights Commissioner Maria Imperial said, “Seventy-five years ago, the Universal Declaration of Human Rights enshrined the truth that all human beings are born free and equal in dignity and rights. Here in New York State, we celebrate this significant date by continuing our mission of eliminating discrimination, remedying injustice, and promoting equal opportunity, access, and dignity for all New Yorkers.”
New York State holds historical ties to the adoption of the Universal Declaration of Human Rights. Key to the Declaration’s success was the leadership of former First Lady and New York State native Eleanor Roosevelt, who chaired the committee that drafted the Declaration. Roosevelt’s tireless dedication and diplomacy made multinational consensus-building possible, leading to the eventual and unanimous approval of the Declaration by the UN General Assembly.
The New York State Division of Human Rights also today released its annual report highlighting the agency’s activities in Fiscal Year 2023.
The Division’s accomplishments in Fiscal Year 2023 include the launch of the Hate and Bias Prevention Unit (HBPU), which is designed to help communities across the State combat prejudice and hate. Since its launch, HBPU has established 10 regional councils representing every region across the State, and a rapid response initiative, which offers support to communities impacted by hate or bias incidents. Most recently, HBPU launched a new telephone hotline, 844-NO2-HATE, and online form that allows New Yorkers to report hate and bias incidents directly to the unit. HBPU will also be a launching a state-wide media campaign in the coming year and recently released a request for proposals for interested media vendors.
During fiscal year 2023, the Division secured nearly $7 million in compensation to more than 1,000 victims of discrimination in employment, housing and public accommodation. This sum represents the highest total compensation in the past six years. The Division also made important strides in helping victims of workplace sexual harassment by launching a toll-free and confidential workplace sexual harassment hotline, 1-800-HARASS-3, which connects individuals experiencing harassment with experienced pro-bono attorneys.
To commemorate the 75th Anniversary of the Universal Declaration of Human Rights and International Human Rights Day, the following New York State landmarks will be lit blue on Friday:
- One World Trade Center
- Governor Mario M. Cuomo Bridge
- Kosciuszko Bridge
- The H. Carl McCall SUNY Building
- State Education Building
- Alfred E. Smith State Office Building
- State Fairgrounds - Main Gate & Expo Center
- Niagara Falls
- Albany International Airport Gateway
- MTA LIRR - East End Gateway at Penn Station
- Empire State Plaza
- Fairport Lift Bridge Over the Erie Canal
- Walkway Over the Hudson State Historic Park
About the New York State Division of Human Rights
The New York State Division of Human Rights is dedicated to eliminating discrimination, remedying injustice, and promoting equal opportunity, access and dignity through enforcement of the Human Rights Law. Our vision is a New York free of discrimination where everyone can fulfill their potential and participate fully in the life of the State. New Yorkers can learn more about the Human Rights Law or report bias and discrimination by visiting dhr.ny.gov.
Former Lumentum Executive Sentenced To 24 Months For Insider Trading
Amit Bhardwaj Was Sentenced to 24 Months in Prison and Ordered to Pay a Fine of Nearly $1 Million for Misappropriating Information About Impending Corporate Transactions to Trade on that Information and Tip His Associates
Damian Williams, the United States Attorney for the Southern District of New York, announced that AMIT BHARDWAJ, the former Chief Information Security Officer at Lumentum Holdings Inc. (“Lumentum”), was sentenced by U.S. District Judge Gregory H. Woods to 24 months in prison for his participation in a scheme to commit insider trading based on material, non-public information (“MNPI”) that BHARDWAJ misappropriated from his employer, Lumentum. BHARDWAJ previously pled guilty to 13 counts relating to the insider trading scheme.
U.S. Attorney Damian Williams said: “Amit Bhardwaj violated the trust placed in him by his employer by tipping his associates with valuable, non-public information regarding Lumentum’s planned corporate acquisitions. 'This' sentence should serve as a stark reminder to corporate executives regularly entrusted with confidential business information that if you try to illegally profit from this information, you will pay a stiff price.”
According to the allegations in the Indictment and statements made in public court proceedings:
In approximately December 2020, BHARDWAJ learned that Lumentum was considering acquiring Coherent, Inc (“Coherent”). Based on this information, BHARDWAJ purchased Coherent stock and call options, then tipped three associates –– his friend Dhirenkumar Patel, another friend, and one of BHARDWAJ’s close family relatives –– and these individuals all traded in Coherent securities as a result. BHARDWAJ and Patel agreed that Patel would pay BHARDWAJ 50% of the profits that Patel earned by trading in Coherent based on the MNPI provided by BHARDWAJ. When Coherent’s stock price increased substantially following the announcement of the Lumentum acquisition, BHARDWAJ, his close family member, his friend Patel, and another friend closed their positions in Coherent securities and collectively profited by nearly $900,000.
In or about October 2021, BHARDWAJ learned that Lumentum was engaged in confidential discussions with Neophotonics Corporation (“Neophotonics”) about a potential acquisition. BHARDWAJ provided this information to Srinivasa Kakkera, Abbas Saeedi, and Ramesh Chitor, and these individuals all subsequently traded in Neophotonics securities. In connection with Chitor’s trading, BHARDWAJ and Chitor agreed that Chitor and BHARDWAJ would split the profits equally. When Neophotonics’s stock price increased substantially following the announcement of the Lumentum acquisition in November 2021, Kakkera, Saeedi, and Chitor closed their positions in Neophotonics securities and collectively made approximately $4.3 million in realized and unrealized profits.
After they were interviewed by the Federal Bureau of Investigation (“FBI”) voluntarily and served with federal grand jury subpoenas on approximately March 29, 2022, BHARDWAJ took steps to obstruct the federal investigation of their conduct. On the day of the March 29, 2022, FBI interviews, BHARDWAJ drove to the homes of certain of his co-conspirators to encourage them not to tell the federal authorities the truth about their insider trading scheme. BHARDWAJ and his associates subsequently met in person on multiple occasions and discussed, among other things, potential false stories that would conceal their insider trading scheme. They also created false documents to buttress lies regarding payments that were, in reality, related to the insider trading scheme.
In addition to the prison sentence, BHARDWAJ, 49, of San Ramon, California, was ordered to forfeit $547,286 and pay a fine of $975,000.
Mr. Williams praised the outstanding work of the FBI. He also acknowledged the assistance of the Securities and Exchange Commission, which separately initiated civil proceedings against BHARDWAJ.