Friday, September 25, 2015



In any large Ponzi scheme, even those on the fringe must face justice. Paul Konigsberg, the New York accounting firm executive who assisted Bernard Madoff in his massive Ponzi scheme, but rendered substantial assistance, in the subsequent Federal investigation, has been disbarred, thereby losing his license to practice law in the State of New York. Konigsberg, who  did not receive either prison time, or any form of probation or supervision, from the District Court at sentencing, was required to forfeit $4.4m, which represented the amount he earned from his business with Madoff. His age (79) was probably a factor in the extremely lenient sentence handed down by the District Judge. Technically, he was sentenced to Time Served, but he had bonded out shortly after his arrest.

Konigsberg had previously plead guilty to:
(1) Conspiracy to falsify books & records of a broker-dealer, and of an investment adviser; and obstructing and impeding the due administration of the Internal Revenue Service.
(2) Falsifying records of a broker-dealer.
(3) Falsifying books and records of an investment adviser.

The defendant, who attempted to resign from the bar, through an application filed after his guilty plea, had his petition denied, as he was automatically disbarred, by virtue of his felony conviction. (Appellate Division Case No.; 2014-06085).

1 comment:

  1. Imagine a City...

    Imagine a city where every home had on it's front lawn a piece of sculpture or an art installation.

    Imagine a city where each and every business invited artists to exhibit their work to the company's patrons.

    Imagine a city where instead of gifting clothing, electronics, chocolate, or cash, a work of art was given, and appreciated.

    Imagine a city where each and every home housed and preserved an art collection. Where insecurities over self-interests were dispensed with, and collections reflected those varied tastes.

    Imagine a city where glass, pottery, painting, photography. fibers, basketry, and even graffiti were embraced. Where the artists themselves were looked upon as a treasured resource. No matter their perspective.

    Imagine a city where any construction project involved multiple artists, in its' execution.

    Imagine a city which preserved its' creative heritage and embraced it.

    Imagine a city which understood, that capturing a slice of life had merit. But to alter a communities perspective to embrace all thought and belief, strengthened it, not weakened it.

    Imagine a city which led the World in cultural munificence which would then reap the reward of becoming a global mecca.

    Imagine a city which could step outside of what others were doing could walk the path of its' own making.

    Imagine a city where meetings to enact such change, needn't take place. Rather a spontaneous change came from its' citizenry itself.

    Imagine a city which artists flocked to; enabling them to create without fear of censorship or derision.

    Imagine a city not dependent upon their museums or art schools for their lead in any discussions of artistic merit, but rather the career artists themselves.

    I have imagined this city since childhood, as have most of my colleagues. Instead we've swum through muck, hoping such change would miraculously happen without distracting us from our labors. Or moved to the closest metropolis which appeared poised to take the plunge.

    Cleveland, like most cities, while not a blank canvas; is one, where the image it sports has faded beyond restoration. The time to paint over it has come. Shiny new unaesthetic buildings, are simply masking the rot.

    Marc Breed, Fine Artist

    "In the distant future, when America is a mere shadow of itself, who historically, shall be remembered? In sports, an argument can be made for Ruth, Chamberlain, Gretzky, Ali, et al. In Art, there is but one name, Breed."

    -Smithsonian Magazine


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