Adam S. Zuckerman, Laguna Beach, California, head of BrickBanc, Costa Mesa, California, and reportedly found to be the ringleader in Operation Lease Fleece, was sentenced to 37 months in federal prison with three years of supervised release by Judge Cormac J. Carney. Zuckerman may be able to take 10% to 15% off the sentence for good behavior, as well as will be in a half-way house upon the last six months of his term.
Zuckerman testimony and files were left sealed in his case, as the investigation is considered “on going.”
The prosecutor, Jennifer L. Waier, Office of US Attorney, would make no comment on the case to Leasing News.
The two major founders of CapitalWerks, Preferred Leasing, Mark McQuitty, sentencing is scheduled for May 14, 2012, and James Raeder, sentencing for June 4, 2012.
Zuckerman sentencing was originally set for October 24, 2012, but moved forward, and may be due to such events as found on this web site: www.stopzuckerman.com
According to the interview with many of those sentenced, the original program was instituted by CapitalWerks in disguised "sale/leaseback" or leases that exceeded the action costs, and included software and installation not spelled out. Accordingly Zuckerman took it one step further, sending out faxes for working capital, and actually setting up phony bank accounts, trade references, fake vendors, and really pushing the program far over the line from what CapitalWerks originally started.
Left to be sentenced besides McQuitty and Raeder:
Leigh Dorand, 42, Tech Capital, Phoenix, Arizona sentencing continued until 7/23/2012 10:00 AM before Judge Cormac J. Carney.
Ziya, Arik, 38, CapitalWerks, continuing Sentencing hearing to 4/30/2012 11:00 AM before Judge Cormac J. Carney
Michael Scott Grayson, Axis Communication, Tarzana sentencing continued to 6/25/2012 11:00 AM before Judge Cormac J. Carney
A joint trail seems left also:
Chant Vartanian, president of ISystems Technology and Solutions, currently operating under several business names, trial date is continued to April 24, 2012 at 9:00 a.m. IT IS FURTHER ORDERED that the status conference is continued to April 16, 2012 at 9:30 a.m.
Sarkus Vartanian, vice-president of ISystems Technology and Solutions, currently operating under several business names, "trial date is continued to April 24, 2012 at 9:00 a.m. IT IS FURTHER ORDERED that the status conference is continued to April 16, 2012 at 9:30 a.m.
In the group of previous stories, this one is the most complete about Adam Zuckerman, told from his point of view, how he got involved in Operation Lease Fleece:
Operation Lease Police Stories: