White Collar Criminal Defense and Investigations partner Ryan L. O’Neill was quoted extensively in “Instagram star Jay Mazini’s victims are owed millions. Will they get paid anything?,” published by mycentraljersey.com on August 7, 2023. The article discussed the fraud Mazini perpetrated on investors in a bitcoin scheme, leading to millions of dollars in restitution owed.
Ryan noted that, in Ponzi schemes, “the government usually does not hear about fraud until people stop getting paid — and at that point there may be nothing left.” She suggested that in sentencing, judges consider whether the defendant shows remorse and has taken steps to reimburse the victims. She said that the defendant will disclose their assets when negotiating a plea, but federal investigators “almost always know the answer” at that point.
“There’s a duty under the law, but you can’t get blood from a stone, and victims are usually left with absolutely nothing, which is why these crimes are prosecuted so aggressively, because usually it’s gone,” Ryan said.
Still, victims want the courts to hear about the impact on their lives. “It usually has less to do with getting their money back and more to do with making sure this person serves the time they think they should,” Ryan said.
Read the full article at Jay Mazini Fraud.
