Financial Crime - Essay Example

Leshner Admits to Aiding in Fraud Conspiracy with LCN Family September 30, was the day that the La Cosa Nostra family found itself losing one its co-conspirators in its performance of fraud pertaining to the FIRSTPLUS Financial Group Inc. 30-year-old Pennsylvanian Cory Leshner admitted his guilt and participation in the conspiracy before U.S. District Judge Robert B. Kugler. The case which is being heard in Camden, New Jersey finds Leshner admitting to aiding and abetting in a conspiracy to commit wire fraud.

The Department of Justice detailed the case that wassuccessfully filed in a press release that explained: “Leshner and 12 others – including Scarfo, an alleged member of the Lucchese La Cosa Nostra (LCN) crime family, and Salvatore Pelullo, an alleged associate of the Lucchese and Philadelphia LCN families – were variously charged in a November 2011 indictment with a racketeering conspiracy that included acts of securities fraud, wire fraud, mail fraud, bank fraud, extortion, interstate travel in aid of racketeering, money laundering and obstruction of justice.

The indictment charged that FPFG was targeted for extortionate takeover and looting by a group of the conspirators. A substantial part of the enterprise’s activities occurred in New Jersey, including communications and the transfer of money into and out of the state. Cory Leshner admitted that he joined the conspiracy in April 2007. “ (“Pennsylvania Man Admits Conspiring with Alleged Members of Organized Crime Family and Others in Fraud Scheme “) Leshner is expected to pay a $250,000 fine which is the equivalent of teice the gross gain or loss from the offense, and spend 5 years in prison for his offense.

He will also lose his law license during his imprisonment. Sentencing for Cory Leshner is scheduled for January 17, 2014. SourcesN.A. (2013). Pennsylvania man admits conspiring with alleged members of organized crime family and others in fraud scheme. The United States Department of Justice. Retrieved from http://www.justice.gov/opa/pr/2013/September/13-crm-1099.html