The man convicted of defrauding Mayor Michael Bloomberg of more than $1 million during his 2009 re-election campaign was sentenced Monday to 16 months to four years in prison.
John Haggerty was found guilty of grand larceny and money laundering in October.
Prosecutors said he took money Bloomberg gave to the state Independence Party for a ballot security operation and used it to buy a house.
The Wall Street Journal says under a deal with prosecutors, Haggerty has agreed to return $750,000 from the sale of his home to Bloomberg.
The paper also says the Independence Party has agreed to return $150,000 to the mayor.
(Source: NY1)
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2 Responses
Let’s do the math, based on the facts, and determine how much, if anything, crime pays:
Money stolen ……………………$1,000,000
Returned by thief ………………….750,000
Net balance to thief ……………….250,000
Jail sentence: 1.33 to 4.0 years in prison.
Net earnings per year if thief serves minimum:
……………………………………….. $187,970
Net earnings per year if thief serves maximum:
………………………………………… $62,500
Hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm.
# 1 you are not taking into account his lawyers fees.