The noose is tightening.
The Buffalo News won’t republish this story (below) because it involves former publisher Stan Lipsey’s BFF -Jordan Levy, an opportunist who washed money and invested funds for lucrative profits for Sheldon Silver in return for a “nice” quid pro quo.
Levy said he was not involved in any criminal acts when his name was first connected to Silver but now we learn that he made a deal with the Feds to avoid prosecution and chirped like a bird about his bad acts at Silver’s trial.
The encore ought to be the investigation of Andrew Cuomo and the present New York State Comptroller, Tom DiNapoli, a former Assemblyman and ‘lackey’ of Sheldon Silver, who Silver sponsored for the Comptroller office when Alan Hevesi (another Silver lackey) was indicted for taking a bribe from Steve Rattner. Cuomo fixed a deal giving Rattner immunity from prosecution after he took the ‘Fifth’…. 55 times! The multi-millionaire ‘briber’ was given immunity to testify against the ‘bribee’. (All pigs are equal but some pigs are more equal than others.)
Why was Levy helping Silver hide money? What was the quid pro quo? Just as Silver had done for his buddy Rattner when lackey Hevesi gave retirement system money to Rattner to invest, Silver had also instructed lackey DiNapoli to give $100 million of State retirement system money to lackey Jordan Levy to manage and invest.
Do you think Preet should investigate all of the Comptroller’s investment managers to see what other Silver BFF’s he can find? You can’t make this stuff up.
On his last day in office as Attorney General, Andrew Cuomo settled the State’s civil action against Rattner for peanuts. It shouldn’t be hard to find that quid pro quo.
There is so much more to these stories.
Sheldon Silver was so desperate to hide the piles of cash he was raking in that he had more than $700,000 deposited into accounts under his wife Rosa’s name, according to testimony and evidence presented in the former Assembly speaker’s corruption trial Wednesday.
An investor and “close friend” of the lower Manhattan Democrat said Silver was trying to conceal his wealth from voters because of toughened state financial-disclosure rules.
An e-mail from Silver’s financial adviser backed up the story.
“Shelly wants to split his notes evenly — split between himself personally and his wife. Apparently the disclosure thresholds are more stringent this year so at current amounts the public would see he has a big investment,” Paul Cody, head of a firm handling Silver’s investments, wrote in the May 16, 2011, e-mail.
Canceled checks and financial statements were also presented, showing that Silver stashed $704,652 in accounts under his wife’s name as of December 2014, while having the same amount in accounts under his own name.
Cody, president of Counsel Financial, said in the e-mail that he had spoken to investor Jordan Levy — the self-described “close friend” of Silver’s — that same evening and that Levy had told him about Silver’s plan.
“I know we want to get Shelly paid off, but we should take care of this interim step,” Cody wrote, referring to the transfer of the deposits. Prosecutors used the e-mail to refresh witness Levy’s recollection as he testified.
Cody testified in Manhattan federal court that Levy introduced him to Silver, and that the then-powerful politician’s first investment with his firm was $25,000 in January 2007.
Silver continued investing in the fund and others, and eventually amassed roughly $1.4 million — thanks to an average 12 percent annual return, prosecutor Carrie Cohen said.
“The amount of interest earned on the investment was more than the amount of the investment?” she asked.
“It was more than the amount of the investment, correct,” Cody replied.
Silver started investing in his wife’s name with Counsel Financial in 2010, with $100,000.
Then, in 2011, Silver split his investments, with $458,000 under each of their names.
The timing was telling because it was in December 2011 that Silver told a lobbyist for the real-estate company Glenwood Management that he was taking a share of the fees the company was paying to Goldberg & Iryami, a law firm headed by Silver’s childhood pal Jay Goldberg.
Testimony has revealed the law firm kicked back about $700,000 to Silver after Glenwood started sending tax work its way.
Levy also testified that he arranged for Silver to have access to investments — including with Clover Community Funds, managed by Cody’s firm — that were hugely profitable, even though he didn’t meet the minimum cash requirements others had to meet.
“Is Clover Community Funds something that’s available to the general public?” prosecutor Carrie Cohen asked.
“No, it’s not,” Levy replied.
“How was Sheldon Silver able to invest $75,000 if the minimum was $250,000?” Cohen continued.
“Because I made the arrangements,” Levy replied.
The financial wizard then admitted that he never billed Silver a dime. “Nothing ever,” he said.
Levy also testified that Silver was on the Public Authorities Control Board when Levy was chairman of the Erie Canal Harbor Development Corp., which was asking the PACB for money for projects. Silver told him he would support the effort.
Lawyers for Silver, 71, have accused the government of trying to criminalize what amounts to politics as usual in Albany.
The government concluded its case Wednesday — and Silver’s lawyers said they would not call any witnesses.
“I do not wish to testify,” Silver told Judge Valerie Caproni.
Closing arguments are scheduled for Monday.