Indicted Art Fraudster Faisal Khan Pled and Got Time Served Now Dere Guilty Plea Accepted

Indicted Art Fraudster Faisal Khan Pled and Got Time Served Now Dere Guilty Plea Accepted By Matthew Russell Lee, Patreon SDNY COURTHOUSE, June 9 –  Back on September 22, 2020 Erdal Dere and Faisal Khan were arrested for wire fraud related to art and antiquities. Inner City Press live tweeted it.  On October 20, 2020 U.S. District Court for the Southern District of New York Judge Loretta A. Preska to whom their cases have been assigned held a proceeding. Inner City Press covered it.   First, the background:  ERDAL DERE of Fortuna Fine Arts and FAISAL KHAN were presented before  Magistrate Judge Sarah Netburn on September 22. Judge Netburn: Have you agreed on a bail package?  AUSA: Can we have a minute?  Judge Netburn: I can put you in a separate room.  Assistant US Attorney returns, says SDNY US Attorney is offering bail - just wants to know which of defendant's two Upper East Side properties is the $3 million one. It's the 78th Street address.  AUSA: Release on his own signature today, two weeks for the rest. The agents already have his passport. Judge Netburn: I approve the proposed bail conditions. $500,000 bond, one co-signer, secured by residence on 78th Street.    On October 20, 2020 Dere had attorney Elliot Sagor, and Khan had attorney Michael Tremonte. The next conference was set for January 20, 2021, with time excluded under the Speedy Trial Act for the production of discovery. Jump cut to August 25, 2023 - Inner City Press was in the Magistrates Court, again presided over by Judge Netburn, when Khan came in to quietly plead guilty to a single count. Sentencing is set for November 29 before Judge Preska, but the AUSA did not know the time. There were cordial greetings all around. Antiquities are a different type or pedigree of crime. Jump again to December 26, when Faisal Khan's lawyer wrote in asking for a sentence of time served, citing among other things his father's dementia. On January 2, 2024, the US Attorney's Office wrote in to request a sentence within the 12 to 18 month guideline. On January 9, 2024, Khan was sentenced to time served, then three years of supervised release. Jump cut to June 9, 2026 when co-defendant Dere's guilty plea was accepted; he consented to a money judgment of $1,110, 250. The case is US v. Dere, et al., 20-cr-501 (Preska) *** 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