United States v. Jaffe

OPINION AND RULINGS ON SENTENCING: FAMILY CIRCUMSTANCES; ACCEPTANCE OF RESPONSIBILITY; AND RESTITUTION

HELLERSTEIN, District Judge.

Bernard Jaffe, Jr. pleaded guilty on May 2, 2003 to violating 18 U.S.C. § 1014, by knowingly making false statements to influence the lending determinations of an FDIC-insured bank. As a direct result of his fraud, Jaffe obtained a $20 million line of credit from the Bank of New York, and became indebted to it in the amount of $20,342,562.13, including interest. I conducted sentencing hearings on October 24 and December 5, 2003, and February 3, 2004, and sentenced…