R.W.Professional Trial Postponed Again The date for the trial to commence was projected to be October 25,2005. Again postponed for the sixth time. Readers tell Leasing News the key officers will not see any jail time, but will walk. The stall, postponement and deal making have been reportedly the modus operendi as happened at Old Kent, CIT, Sierra Cities, among others. On June 20, 2001, forty federal agents raided the small headquarters of R.W. Professional, a company that specialized in leasing medical equipment and arrested its top officers today for what prosecutors described as nationwide bank frauds that could total $200 million. Lease payoffs were never returned to the bank, severals leases were double-dipped, and others did not exist at all, it is claimed. Prosecutors said that the company, the RW Professional Leasing Corporation, concocted elaborate schemes using up to 100 rented mailboxes as far away as California to send phony checks, sham invoices, bogus leases and other false documents to banks in various states. Based on those documents, the banks lent RW millions of dollars to buy equipment and lease it out, prosecutors said. The schemes included multiple loans from different banks for the same medical equipment and loans for equipment that was never bought or leased, prosecutors said. American Express Business Finance and a group of community banks also have a $30 million law suit pending the outcome of this trial. The actual man behind the scenes was allegedly Barry Drayer, who reportedly had a similar problem with Old Kent Funding, CIT Financial, and Sierra Cities Those arrested were RW's president and co-owner, Rochelle Besser, also known as Rochelle Drayer, 68, of Long Beach; her brother, RW's senior vice president, Barry Drayer, 65, who operated a branch in Wellesley, Mass.; another brother, Roger Drayer, 63, of Long Beach, who holds various titles; and Roger Drayer's daughter, Jennifer Tarantino, also known as Jennifer Drayer, 34, of Oceanside. Others were also indicted for conspiracy in California. It appears that the attorney representing the United States Government has changed, as well as the “public defender” for the parities accused. “Linda A. Lacewell Assigned: 10/24/2005 LEAD ATTORNEY From the court room docket: “10/21/2005 Attorney update in case as to Payaddi Shivashankar, Susan Cottrell, Adam Drayer, Roger Drayer, RW Professional Leasing Services Corp., Rochelle Besser, Barry Drayer, Myrna Katz, Stephen Barker. Attorney Linda A. Lacewell for USA added. Attorney Geoffrey Richard Kaiser terminated. (Mahon, Cinthia) (Entered: 10/24/2005) “10/24/2005 337 Letter from Steve Zissou/Elizabeth Macedonio to Judge Spatt Regarding Reply to government's in limine motion (Zissou, Steve) (Entered: 10/24/2005) “10/25/2005 340 ORDER REQUESTING INTERIM PAYMENT - It is hereby Ordered, that as a result of the lengthy proceeding in this matter, Steve Zissou, Esq. for the defendant BARRY DRAYER is authorized to submit interim vouchers for the representation of his client. SEE Order for further details. (Signed by Judge Arthur D. Spatt on 10/25/05). C/ECF. (Coleman, Laurie) (Entered: 10/27/2005)” Previous stories are available at:
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