Updated news on the Gambino, Genovese, Bonanno, Lucchese and Colombo Organized Crime Families of New York City.

Thursday, November 18, 2010

Investment banker Myron Gushlak backs out of pledge to give feds info on Gambino family

Brooklyn prosecutors want a federal judge to throw the book at a wealthy investment banker who broke his vow to cooperate with the feds against Gambino crime associates in a massive pump-and-dump scheme.
Myron Gushlak was denied a get-out-of-jail free card by the government because he breached his deal; he is facing 10 years in prison when he's sentenced Thursday by  Judge Nicholas Garaufis.
Gushlak, who lives in a mansion in the Cayman Islands and pays no taxes, pleaded guilty to a $10 million money laundering scheme of his own. Prosecutors say he came forward with information of little value.
"The government has made clear the defendant has not been particularly forthcoming about his own finances," Garaufis said Wednesday.
Gulshak is also the subject of a fraud investigation in Germany.
His lawyers declined to comment.



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