By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - ESPN
SDNY COURTHOUSE, May 27 – Ruless Pierre has been convicted of securities fraud and embezzlement. Inner City Press covered the trial, see below.
Now on May 27, U.S. Attorney Audrey Strauss said: “Today, Ruless Pierre was brought to justice for callously lying to investors." The Franchise Investment Fraud Beginning in or about November 2018, PIERRE began to offer investors, including some individuals who invested in his Promissory Note Fraud, the opportunity to purchase partnership interests in a partnership that would run three fast-food franchise locations... In total, PIERRE raised at least $200,000 by selling the Silent Partnership Agreements to at least 18 investors. Some of the investors were paid their 5 percent monthly distribution, but the vast majority of the investors were not made whole. The fast-food franchise went out of business in December 2019. Note: it was Planet Wings
On May 17, U.S. District Court for the Southern District of New York Judge Sidney H. Stein began an in-person jury trial in the case.
Assistant U.S. Attorney Robert Boone said Pierre defrauded his Haitian compatriots and devoted the money to expensive meals.
The witness worked for a hotel in Palisades, New York, embezzlement from which Pierre is charged.
On Marcy 18, with the trial paused for a day, Inner City Press ] reported on the record that the US Attorney's Office offered Pierre a plea agreement with a stipulated guidelines range of 51 to 63 months' imprisonment. It was rejected.
On May 20, AUSA Boone was questioning a victim of Pierre's, who seemed to say she was compensated from bringing in more victims. She was to withdraw $43.05 as a test, she said.
On May 24, Pierre's CJA lawyer Brooke Cucinella of Simpson Thacher cross examined at length about charts showing Pierre's finances, including his purchase of a Planet Wings franchise, and payments over Zell.
Judge Stein asked the witness, to friendly laughter from the jury, Do you have a Zell account? He told the lawyers, including AUSA Drew Skinner who did the re-cross, to "chill."
There is a mystery as to May 25 on which we hope to have more. The only thing filed in the docket was an additional notice of appearance for Ruless Pierre, by Jacob Lundqvist.
On the morning of May 26, AUSA Skinner gave the government's summation, including using slides to detail each charge, concluding with "the Planet Wings Scheme." He said Ms. Pamphile was charged hundreds of thousands of dollars for a store that cost only $50,000, and then was told to delete her text messages. The jury was escorted down to lunch together, presumably not Planet Wings but rather than often name-changing 8th floor cafe.
In the afternoon, Pierre's lawyer Brooke Cucinella emphasized that her client didn't suddenly pay off his debts, for example to Ally for the Porsche, and had sent bills to those who traveled with him each year to Miami for Haitian Flag Day, staying in the Fontainbleu (said Fountain-Blue) hotel. Hold the government to its burden, she said.
Watch this site.
The case is US v. Pierre, 19-cr-783 (Stein)
***
Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.
