Advertisement

Former N.Y. Assembly Speaker Sheldon Silver pleads not guilty to corruption charges

By Amy R. Connolly
Former New York state Assembly Speaker Sheldon Silver and New York elected officials and community leaders speak as a sign of support for Israel's right to self-defense before a rally outside of the Israeli Consulate In New York City on Nov. 20, 2012. Silver pleaded not guilty Tuesday to corruption charges. File Photo by John Angelillo/UPI.
Former New York state Assembly Speaker Sheldon Silver and New York elected officials and community leaders speak as a sign of support for Israel's right to self-defense before a rally outside of the Israeli Consulate In New York City on Nov. 20, 2012. Silver pleaded not guilty Tuesday to corruption charges. File Photo by John Angelillo/UPI. | License Photo

NEW YORK, April 28 (UPI) -- Former New York state Assembly Speaker Sheldon Silver pleaded not guilty Tuesday to new charges he moved millions in kickbacks into high-yield investment funds.

Silver, 71, once considered one of New York's most powerful politicians, will go to trial Nov. 2.

Advertisement

Indicted in February on corruption charges,prosecutors added four new charges April 23, claiming he used his relationship with an unnamed investor to distribute about $4 million in "crime proceeds across numerous high-yield investment vehicles not available to the general public."

During the arraignment Tuesday, Assistant U.S. Attorney Carrie Cohen did not rule out the possibility of more charges.

"Our investigation is continuing," Cohen said, adding new charges could be included, "if we find evidence of criminal behavior. I do not rule out that if we discover something as we continue our investigation."

On leaving court, Silver said he's anxious for the trial to begin.

"I'm glad there is a trial date," Silver said. "I'm confident that at the end of this process I will be totally vindicated."

The U.S. alleges Silver reaped almost $4 million in kickbacks and other illegal fees tied to fraud and extortion. Prosecutors said the new charges show Silver sought to hide his gains from 2006 to 2015 by putting them into family member's names. In January, Silver vacated the Assembly seat he's held since 1994. If convicted, he faces 20 years in prison.

Advertisement

On April 14, Silver's son-in-law, Marcello Trebitsch, was arrested on charges he defrauded investors out of $7 million.

Latest Headlines