Edward Mangano ordered to pay over $10M to two Connecticut insurers – InsuranceNewsNet

Edward Mangano ordered to pay over $10M to two Connecticut insurers – InsuranceNewsNet

Edward Mangano, an ex-executive of Nassau County, was ordered to pay more $10.6million to two Connecticut insurance firms for defaulted loan payments that Mangano helped facilitate during his tenure.

Mangano was convicted in 2019 on federal corruption charges. Mangano was also accused by Leonard Genova, a former Town of Oyster Bay lawyer, and Singh. Mangano and Linda Mangano were both sentenced to 12 years and 15 years respectively in April 2022 for their involvement in the scheme of the early-to mid-2010s.

Nicole Fuller reported in mid-July that U.S. District Court Judge Joan M. Azrack ordered Mangano now to pay $25 in restitution every 3 months while he is behind bars and 10% of his gross monthly income when he is released. Judge Azrack found Mangano liable for $10,630, 016.80.

Mangano appeals his sentencing, which is set to begin July 27 as per press time.

After a jury trial, on March 8, 2019, the Manganos of Bethpage was convicted in New York’s Eastern District. Their sentencing was delayed by the pandemic and an interminable series of defense motions.

Mangano will soon be incarcerated. This is a blow to his once promising career as a politician. In 2009, Mangano narrowly defeated Thomas Suozzi who was elected County Executive. The Hofstra University alum served between Jan. 1, 2010 and Dec. 31, 2017, defeating Suozzi in an ensuing rematch. Mangano was indicted during the 2017 election campaign and was reportedly out of favor by the Nassau County Republican establishment. He decided not to run again for a third term. It was speculated that Mangano could run an independent campaign for reelection or his own Tax Revolt Party. He was twice given a second option on the ballot by it.

Multiple counts were brought against the pol for accepting kickbacks and bribes for official government action. He also was charged with conspiracy to obstruct Justice. A $20, 000 fine was also imposed on him. His wife was convicted in connection to Harendra Singh, a Long Island restaurateur,’s employment. Singh was in the centre of the original federal indictments. They were unveiled on October 20, 2016, and also included John Venditto (former Town of Oyster Bay Supervisor).

Singh of Laurel Hollow was the focus of the government’s case. Singh was accused of accepting concessions at the Town of Oyster Bay Golf Course, and two beaches in the town, in return for loan guarantees in Oyster Bay as well as contracts with county government. Singh pleaded guilty and was a prosecution witness.

Indictment number 1 charged Ed Mangano, Venditto with conspiring to commit federal program fraud and bribery. Linda Mangano was reportedly offered a job as a “no-show” at Singh’s Water’s Edge restaurant in Long Island City. This was at her husband’s request. The government claimed that she earned $450,000. Between April 2010 – August 2014.

The government also charged the accused and their families with free meals at Singh’s many restaurants, free limousine rides, vacations paid for by Singh, and even a watch that cost Singh $7, 000 in the Mangano case.

According to a press release: “Edward Mangano and Linda Mangano conspired against a federal Grand Jury investigation when they plotted with Singh, to fabricate examples work never done by Linda Mangano, in an effort to thwart grand juries investigation.” Linda Mangano, on May 20, 2015, and May 22, 2015, made false statements about the work she claimed to be performing for Singh to the FBI and federal prosecutor.

The government claimed that Venditto pressured Venditto, shortly after Mangano’s 2010 election, to “..help Singh secure financing to make the capital improvements required at his home.” [Tobay]Beach and The Woodlands [Town of Oyster Bay Golf Course]By authorizing the [town]Indirectly guarantee four bank loans amounting to approximately $20 million. Mangano used the official position to guarantee that [Oyster Bay]”The loans were backed by them.” According to court documents, Singh was in financial difficulties and had difficulty making capital improvements as required by his concessions. Anton Media Group has obtained the transcript of the trial. Singh testified that he bribed Ed Mangano to do favors for him.

In the original case, all three pleaded not guilty. After the jury foreman declared that he couldn’t carry out his duties, Judge Azrack declared a mistrial against the Bethpage couple on May 31, 2018. The jury was reported to have been deadlocked on the charges against them. After a second jury trial, Manganos were convicted on several charges within 10 months.

Venditto was acquitted of similar charges by a jury in May 2018. Venditto was convicted of state corruption charges but he did not spend any jail time. In March 2020, the longtime Massapequa resident passed away.

According to the New York State Constitution, Article VIII prohibits schools and municipalities from lending money to private business. Phoenix Holdings’ lawyer made a statement prior to the sentencing, stating that Phoenix had loaned Singh approximately $13.873 million and that he has only paid back $3.243 million. Phoenix sued the Town Of Oyster Bay for the rest.

Judge Azrack ruled in April that the indirect loans guarantees were “..which were executed Len Genova, Singh as part” of the [Town of Oyster Bay]Federal and state courts ruled that Loan Schemes were not enforceable.

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