GPB Capital: Jeff Lash Allocutes; Implicates David Gentile in Felony Wire Fraud

Former GPB Capital executive Jeff Lash allocuted in Federal Court on June 6, 2023. The transcript just become available and is posted below in PDF format.

During his allocution, Lash was advised by the court that the sentencing guidelines for the one count of wire fraud to which he entered a guilty plea set his range of imprisonment at 151 to 188 months. However, the Court made it clear that Judge Gujarati is not bound to these guidelines and can impose a higher or lower sentence. Lash acknowledged that he understood this aspect of his guilty plea.

Jeff Lash then read a prepared statement after pleading guilty to one count of wire fraud:

THE COURT: Go ahead, Mr. Lash.

THE DEFENDANT: On April 28, 2016, I, along with David Gentile, initiated an interstate wire payment of approximately $1,050,000 from my personal Chase bank account to the Gentile Prime Brokerage Automotive Portfolio Chase bank account. I knew that the money would be booked and falsely be represented as revenue in the financial statements of the Automotive Portfolio.

I was aware at the time that such funds were not revenue and would be provided to investors and prospective investors to induce them into investing money in the Automotive Portfolio. Some of the investors and prospective investors were located in the Eastern District of New York.

I knew at the time what I did was wrong.

THE COURT: All right. Thank you. And is there any representation as to the interstate nature
of the wire transfer?

MR. GOTTLIEB: No, Your Honor.

THE COURT: That is an element that needs to be proven, that it’s interstate.

MR. MARSHALL: Yes, your Honor, I think actually the defendant did make that representation in his allocution. But I would note for the record that were we to proceed to trial, the government would prove through evidence such as witness testimony and documentation that the wire transferred, noted in Count 5 of the indictment, did in fact, use interstate wires. And we’d ask that the defense would stipulate to that fact.

MR. JANEY: Okay. And we do —

MR. GOTTLIEB: Your Honor, it is included, but that is stipulated. There’s no disagreement with that.

THE COURT: Okay. Thank you. All right. Is there anything else I need to go over with regard to the allocution, Mr. Marshall?

MR. MARSHALL: No, Your Honor.

The Transcript of Lash’s Allocution:

3 replies »

  1. Let’s see how those scienbollocks postulates of Gentile “out-create” Lash’s allocution…

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