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The other defendants, Lev Parnas, Igor Fruman and Andrew Kukushkin have pleaded not guilty. A trial was due to open in March but has been postponed indefinitely due to concerns over Covid-19.
Giuliani has not been charged in this case. However, in a court file last week regarding Correia’s conviction, prosecutors describe how a prominent lawyer featured in the speech Correia and Parnas made to make money for their business, known as ” Guarantee against fraud ”.
“To seal the deal with Victim-7, Correia texted Parnas the next day to tell him that ‘everything is fine’ with Victim-7 and that the ‘only contingency he had was that he asked lawyer-1 to telephone him to wish him on board so that he knows that he is really part of it, ”” prosecutors wrote.
Prosecutors say the victim investor remained nervous.
“Please confirm here that [Attorney-1] is a partner in this and will be there for the long term with all of us, ”the anonymous investor wrote, according to prosecutors.
Correia replied, “He’s absolutely on board and part of the company. Him, via [his consulting firm] will be with us and help with compliance and regulatory matters, advertising and marketing, and many other deliverables. He also agreed that we can use his likeness to be the “face of the company” (if we choose) for advertisements, advertisements, etc. He will also be personally involved in sales / business development. . . . Simply put, we will have full access to his entire team. Extremely large list of things he has agreed to do. The relationship is very strong and we also do business with him in other capacities.
Prosecutors say this prompted this response from the potential investor: “Okay. I’m in.”
Public documents do not name Giuliani, but details of the prosecution case agree with press reports of payments totaling $ 500,000 that a Long Island lawyer, Charles Gucciardo, wired to Giuliani Associates in September and October 2018.
US Deputy Prosecutor Nicolas Roos referred to the same exchanges regarding the $ 500,000 during Monday’s hearing, although he refrained from publicly naming the lawyer or the victim.
“Correia was indeed the closest,” Roos told the judge. “He wasn’t a sidekick. He was not an assistant to Parnas… They can play different roles, but both roles are equally important.
Oetken also focused on the $ 500,000, asking the prosecutor if all that money was for the fraud guarantee “as opposed to something else”.
“Ultimately, the case is not fully developed on this issue,” Roos replied.
Harrington said his client did not misappropriate any of those funds. “Every penny of the $ 500,000 went to Attorney-1. Mr. Correia did not take any of that money, ”the defense lawyer said.
Lawyers for Gucciardo and Giuliani did not immediately respond to requests for comment on Monday. Giuliani and his lawyer said Giuliani was not aware of any fraud or political donations made under false names.
The case garnered widespread attention when charges were filed in 2019, not only because of links to Giuliani, but because prosecutors alleged that part of the larger agenda involved efforts to oust the ambassador. American in Ukraine, Marie Yovanovich. This effort ultimately led to Trump’s first impeachment. There was no discussion of these issues at Monday’s sentencing hearing.
Correia admitted to making false statements to investors, but insisted he “wholeheartedly” believed the company – which ironically aimed to insure investors against losses – would eventually succeed.
“He really hoped these companies would become something. He’s spent years working on it, ”Correia’s attorney William Harrington said at Monday’s hearing. “There has really been an effort to start a business here.”
Correia, who described himself as a former professional golfer, said he was drawn to Parnas’ high-flying lifestyle.
Harrington also noted that not all of the victims in the case have called for harsh punishment. “Two of the victims of the offense submitted letters that spoke very positively about David,” the defense attorney said.
“This is something you don’t see every day in a fraud case,” observed Oetken, the judge.
Prosecutors have asked for a sentence within the federal guidelines range of 33 months to 41 months in prison. However, Harrington said the court’s probation office favored a sentence “well below” that range.
Roos said Correia deserved a harsh sentence, in part because “Fraud Guarantee” was being touted as a business that would effectively prevent investors from being defrauded.
“There is of course an irony or a play on words that this is the name of the company here,” Roos said. “While they were saying these things specifically acknowledging the damage that can come from fraud, they were stealing money… It’s so brazen and it demands a significant penalty.
“The irony of the company’s name, Fraud Guarantee, is hard to ignore,” the judge said.
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