New York – A prominent Brooklyn rabbi has been sentenced to four years in prison in what prosecutors said was a plot to extort a Connecticut-based hedge fund into paying millions of dollars to two schools.
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Rabbi Balkany, founder and former dean of Bais Yaakov day school in the Borough Park section of Brooklyn, had faced as much as nine years in prison under federal sentencing guidelines.
His lawyer, Alan Kaufman, has asked U.S. District Judge Denise Cote in Manhattan to impose a ”lenient” term. Kaufman said in court papers that Balkany deserves leniency because of a “lifetime of good deeds” and community service.
Balkany has 13 children, including a handicapped daughter, and his family would suffer hardship if he were incarcerated, Kaufman said.
Over 75 letters, sent from a broad spectrum of individuals helped by Rabbi Balkany wrote to the judge to asking for mercy in light of the Rabbi’s lifetime commitment to charity and going above and beyond the call of duty throughout his years as the dean of the Bais Yaakov of Brooklyn.
Several prominent figures in the Jewish community felt that the financial pressures caused by the recession influenced Rabbi Balkany to engage Steven Cohen’s SAC Capital Advisors LP in an attempt to facilitate $4 million for his School and other Yeshivas.
I’m just hoping and praying that your Honor will take the totality and will downward depart in this situation, so that so many innocent people…should not be negatively effected,” Rabbi Balkany, 64 years old, said before sentencing.
U.S. District Judge Denise Cote ordered that Rabbi Balkany be jailed immediately after imposing sentence.
“That was the major disappointment of the day,” said Alan Kaufman, Rabbi Balkany’s lawyer. “We didn’t think and don’t think he is a flight risk. We thought he should have been allowed to voluntarily surrender.”
In an exclusive statement released to VIN News, Zev Brenner President of Talkline Communications Network and host of Talkline with Zev Brenner said, that he is saddened by this outcome. “Today is a traditionally joyous day on the Jewish Calendar being Purim Kattan of a leap year, but it has been transformed into a sad one by the remanding of Rabbi Balkany right away to prison to begin a four year Sentence. said Brenner
“I’m not sure of all that transpired and why it happened as it seems inconsistent with the charitable work that Rabbi Balkany is engaged in. I’ve had Rabbi Milton Balkany as a guest on our radio programs many times over the last 15 years and though we’ve had our differences, I found him to be committed to the Jewish people and having engaged in much communal work.”
My heart goes out to him and his family during this very difficult time!!
H’amukom Y’rachem A’liehem V’yoitziem M’afielah L’oirah…
Very sad. Time for mashiach
Sad, very sad.
It is very sad a huge blow to the family. How much can one family handle, only Hashem knows. May Hashem open the floodgates of rachmonus on the family and bring a yeshua. Hashem takes with one hand and gives with the other. May Yehoshua’s tzar bring a yeshua for SMR.
i add my condolence.
May Hashem free this tzaddik as soon as possible.
Four years for a Jew is an EXTREMELY long time. Thats FOUR Rosh Hashanas, FOUR Yom Kippurs, FOUR Succos, FOUR Chanukahs… etc etc.. plus all the family simchas in between.
Four years is extreme. The judge should have shown a little more reason.
In these types of cases the “Askanim” and “Community Organization” leaders don’t reach out to others who may be able to help. Remember, these guys who helped could take all the credit for ‘saving’ the person in need (Credit = $$$ to the organizations for what they accomplished or kuved to the askan) but they don’t take into consideration the risks involved by not letting those people or ‘other’ organizations who could really help get into their closed circle of ‘saviors.
A paltry 75 letters??? They could have gotten 750 letters for such a person and from individuals and organizations who count and could have made a difference!
I wish Rabbi Milton Balkany comfort, health and safety during the next 4 years and hatzlocho rabo to his family.
Who will take care of Balkany’s family? Who will fund his appeal (assuming, of course, that he wants to appeal)?
I went to Rabbi Balkanys yeshivah over 20 yrs ago , he is a a pleasnt man always a big smile on is face. the only crime he commited is being a tzaddik and helping yiddisha children go to Yeshivah. this is a time for teshuvah bad things r happening around the world. we all must respect one another or mor ebad will happen. I pray there will be a miracle and Rabbi Balkany at his old age of 64 will not have to dread going to prison such an awful place to be, pray maybe they will lessen the charge to house arrest. Everybody Pray
we can only daven and say tehillim. for only G-D can help this Very Special man. Anyonw whpo came on contact with him came away smilling and at ease. he will be missed but never forgotten Please have him included in our prayers.