Fraudster Bernardi Got 60 Months As BofA Wanted $10M Now Travel to Turkey Denied

Fraudster Bernardi Got 60 Months As BofA Wanted $10M Now Travel to Turkey Denied By Matthew Russell Lee, Patreon Maxwell Book SDNY COURTHOUSE, May 20 – Fraudster Robert Bernardi pled guilty on August 17, 2022 to securities fraud, bank fraud and wire fraud - but not aggravated identity theft - in connection with bankrupt email security company GigaMedia Access Corporation.  Inner City Press live tweeted his change of plea, here and below. Immediately after the plea, his co-defendant Nihat Cardak had a pre-trial proceeding. They were going forward, they said - until they didn't.    The proceedings were before U.S. District Court for the Southern District of New York Judge Paul G. Gardephe. He ran through the elements; the AUSA asked that he specify the the wire fraud involved a bank. Inner City Press understands the bank that asked for the $10 million deposit to be Bank of America.   He pled to 121 months. On January 24, 2023, Bernardi got five years (60 months) - "ROBERT BERNARDI, the founder and former Chief Executive Officer of the Virginia-based email security company GigaMedia Access Corporation, d/b/a GigaTrust (“GigaTrust”), was sentenced to five years in prison by United States District Judge Paul G. Gardephe." On May 20, 2026 Judge Gardephe denied Bernardi's request for permission to travel to Turkey in July to visit his parents - the endorsement was that "the application is denied based on the Defendant's failure to regularly make restitution payments."  The August 2022 thread:   Judge Gardephe : it's securities fraud, bank fraud, and wire fraud, 30 year max. I have a copy of the plea agreement, 121 months or less, you can't appeal.  Bernardi: Beginning in 2016 we began to use false GigaTrust financial statements. A bank demanded a $10 million deposit. I used wires to lie. Update: Same case, Bernardi's co-defendants Nihat Cardak and Sunil Chandra seemed to be proceeding to trial, at least then. Jump cut to October 13, 2023 - Chandra got a time served sentence, the first year of which will be under home confinement. The case is US v. Bernardi, et al., 21-cr-616 (Gardephe)   *** 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. Feedback: Editorial [at] innercitypress.com Mail: Box 130222 NY NY 10013 Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.  Copyright 2006-2026 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at] innercitypress.com