 |
In an unwavering stance against corruption in the commercial sector, the U.S. Attorney's Office for the Southern District of New York has seen Skye Xu, a cargo airline operator, sentenced to two years of imprisonment for his role in a large-scale kickback scheme aimed at defrauding Polar Air Cargo Worldwide Inc., according to the Department of Justice.
U.S. Attorney Jay Clayton brought to light the details of the case, unearthing Xu's actions during the peak of the COVID-19 pandemic wherein he shelled out about $4.4 million in bribes to executives at Polar to secure business benefiting his company, Sky X Airlines LLC; these fraudulent deeds did not go unnoticed as they ultimately cost Polar more than $32 million in lost revenue, according to court documents and the sentencing announcement.
Xu's engagement in this dishonest enterprise spanned from November 2020 to July 2021, and he has been charged with multiple offenses including conspiracy to commit wire fraud and money laundering, "During the COVID-19 pandemic, Skye Xu paid approximately $4.4 million in kickbacks to Polar executives to obtain highly lucrative business from Polar," Clayton said while emphasizing that this type of corruption incurs costs far beyond just one company’s financial loss, as per the U.S. Attorney's Office.
The larger scope of this corruption web spun by Xu alongside Polar's senior executives affected nearly all areas of the cargo airline's operations; with at least ten customers and vendors also involved, the illicit exchange of financial favors had been undermining the company since as far back as 2009, and although Xu is the last of ten charged defendants to face conviction, his actions symbolize a grim period of systemic dishonesty in the cargo sector that has only just been fully exposed --->READ MORE HERE
 |
| U.S. District Court |
Marcus Taylor has pleaded guilty to fraud and drug-dealing charges. He could face at least eight years in prison.
A drug dealer who supplied a gang with cocaine on the South Side also ripped off the government of more than $130,000 in COVID-19 pandemic relief money intended for struggling businesses, federal prosecutors say.
Marcus Taylor, 40, has pleaded guilty to defrauding the federal Economic Injury Disaster Loan Program in 2020 and the Paycheck Protection Program in 2021. On loan applications, he lied that he owned a construction company, then spent the money on personal expenses.
Taylor also admitted selling a kilogram of cocaine to an FBI informant in 2022 for $23,000. He collected about $17,500 from the informant, whom he kept badgering for the remaining $5,000.
“Yo … trying to get that balance lil bro,” he said in a text message, according to the FBI
In his May 16 plea deal, Taylor acknowledged he had sold the informant about 2 kilograms of cocaine a month from 2020 through mid-2022. The informant then supplied gang members with the Black P Stones Nation with the cocaine, authorities said. --->READ MORE HEREFollow links below to relevant/related stories and resources:
US sees cases of new COVID-19 variant linked to surge in China: report
Why are more than 300 people in the US still dying from COVID every week?
USA TODAY: Coronavirus Updates
WSJ: Coronavirus Live Updates
YAHOO NEWS: Coronavirus Live Updates
NEW YORK POST: Coronavirus The Latest
If you like what you see, please "Like" and/or Follow us on FACEBOOK here, GETTR here, and TWITTER here.
No comments:
Post a Comment