If you are going to steal $4.6 million from the federal government—money earmarked to help businesses keep employees on the payroll through the worst ravages of a crippling global pandemic, no less—as hedge fund manager Gregory Blotnick is alleged to have done, it is best to keep a few hundred thousand dollars of your own money on hand if you’d prefer to avoid a trip to Rikers Island before your upcoming stay with the hospitable jailers of the Federal Bureau of Prisons.
Blotnick, a resident of West Palm Beach, Florida, pleaded not guilty Wednesday, and was held on $500,000 cash bail, which his lawyers claim he cannot afford…. Blotnick’s lawyer, Jason Berland, said Blotnick is expected to plead guilty to the federal charges next week. He’s due back in Manhattan criminal court on October 19.
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