Haredi Lawyer’s Ponzi Scheme Back In Courts – Marvin Schick’s Nephew Convicted Felon?

The Scotsman reports:

A federal appeals court ruled that Bank of America Corp. , HSBC Holdings Plc and Sterling Bancorp must defend against a lawsuit related to a lawyer’s Ponzi scheme that defrauded Orthodox Jews and others out of millions of dollars.…

The case involved David Schick, a Brooklyn, New York, real estate lawyer who in the early 1990s convinced investors that he had devised a “no-risk” scheme to generate high returns by bidding on and subsequently selling pools of mortgages.

According to the appeals court, investors would advance funds to Schick, who would then claim to deposit them in escrow accounts at Fleet Bank, now part of Bank of America; Republic National Bank, now part of HSBC; and Sterling National Bank.

Instead, the court said Schick raided the accounts, stealing $82 million before his fraud was discovered.

Investors claimed that the banks were liable because they failed to report overdrafts on Schick’s accounts to a state bar committee overseeing client funds, even though he repeatedly bounced checks.…

Schick, who was well known in New York’s Orthodox Jewish community, in 1997 pleaded guilty to criminal charges in connection with his scheme.

Now 46, Schick is scheduled to be released from a federal prison in Otisville, New York, in November 2011, a spokesman for the U.S. Bureau of Prisons said.

I believe David Schick is Marvin Schick’s nephew. Is he the son of the man who sparked the Boro Park riot?

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12 Comments

Filed under Crime, Haredim

12 responses to “Haredi Lawyer’s Ponzi Scheme Back In Courts – Marvin Schick’s Nephew Convicted Felon?

  1. avrohom

    shmarya,

    You understand why people do not take you and other violent and dangerous bloggers (who anonimously defame every peron without fearing being exposed like the UOJ guy)?

    What was the point in your post of making an ssociation with marvin shick (especially when you do not know as you are yourself asking the question)?

    You are an immoral thug and anyone who you have an issue it, you wrognfully lambast him without asking yourself whether youare justified or not.

    Just as it is an avera to coverup sexual molestations etc. SO TOO and with same degree) is an avera to WRONGFULLY DEFAME AND BADMOUTH INNCOENT PEOPLE. Yes, Loshon horoh is still applicable today. If you have an issue at hand to fix it up fine. But just to lambast at innocent people or people whom you do not know ehterh they are innocent gives you no right to besmirch that person or family or group and associate all ills on them.

    You make here will claims about frumme yidden as if ALL of them are crook. I have news to tell you:

    YOU ARE A CROOK! an immoral person who has no compunction on badmouthing innocent people just vecause they do not agree with your positions.

  2. avrohom

    shmarya,

    You understand why people do not take you and other violent and dangerous bloggers (who anonimously defame every peron without fearing being exposed like the UOJ guy)?

    What was the point in your post of making an ssociation with marvin shick (especially when you do not know as you are yourself asking the question)?

    You are an immoral thug and anyone who you have an issue it, you wrognfully lambast him without asking yourself whether youare justified or not.

    Just as it is an avera to coverup sexual molestations etc. SO TOO and with same degree) is an avera to WRONGFULLY DEFAME AND BADMOUTH INNCOENT PEOPLE. Yes, Loshon horoh is still applicable today. If you have an issue at hand to fix it up fine. But just to lambast at innocent people or people whom you do not know ehterh they are innocent gives you no right to besmirch that person or family or group and associate all ills on them.

    You make here will claims about frumme yidden as if ALL of them are crook. I have news to tell you:

    YOU ARE A CROOK! an immoral person who has no compunction on badmouthing innocent people just vecause they do not agree with your positions.

  3. avrohom

    shmarya,

    You understand why people do not take you and other violent and dangerous bloggers (who anonimously defame every peron without fearing being exposed like the UOJ guy)?

    What was the point in your post of making an ssociation with marvin shick (especially when you do not know as you are yourself asking the question)?

    You are an immoral thug and anyone who you have an issue it, you wrognfully lambast him without asking yourself whether youare justified or not.

    Just as it is an avera to coverup sexual molestations etc. SO TOO and with same degree) is an avera to WRONGFULLY DEFAME AND BADMOUTH INNCOENT PEOPLE. Yes, Loshon horoh is still applicable today. If you have an issue at hand to fix it up fine. But just to lambast at innocent people or people whom you do not know ehterh they are innocent gives you no right to besmirch that person or family or group and associate all ills on them.

    You make here will claims about frumme yidden as if ALL of them are crook. I have news to tell you:

    YOU ARE A CROOK! an immoral person who has no compunction on badmouthing innocent people just vecause they do not agree with your positions.

  4. avrohom

    shmarya,

    You understand why people do not take you and other violent and dangerous bloggers (who anonimously defame every peron without fearing being exposed like the UOJ guy)?

    What was the point in your post of making an ssociation with marvin shick (especially when you do not know as you are yourself asking the question)?

    You are an immoral thug and anyone who you have an issue it, you wrognfully lambast him without asking yourself whether youare justified or not.

    Just as it is an avera to coverup sexual molestations etc. SO TOO and with same degree) is an avera to WRONGFULLY DEFAME AND BADMOUTH INNCOENT PEOPLE. Yes, Loshon horoh is still applicable today. If you have an issue at hand to fix it up fine. But just to lambast at innocent people or people whom you do not know ehterh they are innocent gives you no right to besmirch that person or family or group and associate all ills on them.

    You make here will claims about frumme yidden as if ALL of them are crook. I have news to tell you:

    YOU ARE A CROOK! an immoral person who has no compunction on badmouthing innocent people just vecause they do not agree with your positions.

  5. It is his nephew. I have an old NY Times article where Marvin is quoted about this.

  6. It is his nephew. I have an old NY Times article where Marvin is quoted about this.

  7. avrohom

    what difference does it make? who gies you the rgiht to attackthe uncle by association to his nephew?? you are an immoral person. Clean up your act before you give mussor to others.

  8. avrohom

    what difference does it make? who gies you the rgiht to attackthe uncle by association to his nephew?? you are an immoral person. Clean up your act before you give mussor to others.

  9. avrohom

    what difference does it make? who gies you the rgiht to attackthe uncle by association to his nephew?? you are an immoral person. Clean up your act before you give mussor to others.

  10. avrohom

    what difference does it make? who gies you the rgiht to attackthe uncle by association to his nephew?? you are an immoral person. Clean up your act before you give mussor to others.

  11. NoDemonstrations

    For the record, yes, Dovid Schicksa is the son of Arthur Schick. The apple fell far from the tree – it happens. Yitzchok Avinu had a son named Esav.

  12. Anonymous

    Marvin Schick’s brother did not spark any riots. He merely, rightly or perhaps wrongly, was arrested for disorderly conduct.

    Nobody has even allleged that he encouraged any person to riot. Indeed. it is unlikely that he even knew about the “riots” since he was presumably in police custody at that time.

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