Tuesday, July 29, 2014


The District Judge assigned to $1bn Ponzi schemer Joel Steinger's criminal cases has rescheduled his sentencing, due to the fact that Steinger, who is, for all intents and purposes, disabled, due to a chronic back problem, housed in a Florida hospital. Apparently, the defendant's unit manager failed to timely deliver the Pre-Sentence Investigation Report (PSIR) to him.

Steinger, and his counsel, were therefore unable to prepare any objections. His counsel asked the Court for an additional 30 days, from the original July 18th date. The sentencing has been reset for August 22nd, at 9 AM. Victims of the life settlement Ponzi scheme have been waiting for a decade for justice, and this is a case set for sentencing of the firm's principal owner first for June, then July, and now August. It was filed way back in 2008. The fact that a US government employee failed to deliver a critical sentencing document on time exposes the fact that the Ponzi scheme imploded in 2004, and the case is old news, with a low priority. The victims, especially those who lost their entire life savings, deserve better. 

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