Saturday, September 16, 2017


Ponzi schemer Franicsco Illarramendi, who pled guilty in US District Court in Connecticut, and is presently serving a sentence of 156 months, is now seeking to be released from confinement, while his Habeus Corpus petition is pending. He is asking that the Court place him under Supervised Release until there is a ruling on the petition, which alleges that his constitutional rights were violated during the proceedings.

Illarramendi claims that his Sixth Amendment rights were denied, due to his inability to select counsel of choice, and due to ineffective assistance of counsel. A fair reading of the petition when it was filed did not indicate that it has any legal merit.Ponzi schemers, when caught, frequently deny liability, and seek to portray themselves as victims.

Additionally, he pleads that he cannot adequately defend all his pending civil proceedings, and that he should be released to properly assist his stand-by counsel. His two hedge funds were not registered with the appropriate regulatory agencies, and he has been a primary target of civil action by the US Government.

Readers of this blog may recall that the defendant changed lawyers multiple times, delaying sentencing the case for five years, from 2011 to 2015.  His release pending sentencing was revoked, and he was returned to custody, in 2013, for violating the terms of his release. It is doubtful, given his prior conduct during the case, that there will be any release granted, and in any event his motion to be released at this stage has no basis at law, notwithstanding a 15-page pro se motion, detailing his reputed clean prison record, and alleged non-existent flight risk status.

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