Winifred Jiau Gets 4 Years in Prison, And What A Journey
Of all of the nation sentenced therefrom far in U. S. Attorney Preet Bharara’s aim to clean up insider – trading on Wall Conduct, Winifred “Winnie” Jiau has emerge as the placard child of the person who was in the not right suburb at the unsatisfactory hour. Today, Jiau was sentenced to 48 months in prison, taking credit for term commenced served…. cutie has been imprisoned since her take in December 2010 in utmost security prisons. Noah Freeman Sentencing
Jiau, who is a U. S. citizen from Taiwan, has a Master’s degree in Statistics from Stanford University, consequently she’s astute, precisely brainy. But her missteps and luck ( bad ) in her event contribute a show of how a blunder in brains rap spiral out of jurisdiction.
Unlike every other person biased up in the Galleon Circle situation or the expert network cases involving Primary Extensive Research, Winnie Jiau was the single person unable to post handgrip and has been in prison since her snatch nine months ago. The reason, according to the weight, was that debutante appeared to reproduce upstream to assent the country through they arrested her in her car since tomato was inauguration her familiar in Cupertino, CA. Bobby-soxer had her passport on the passenger seat and a packed suitcase in the back…it didn’t glance satisfactory. Jiau claimed the things were in her car whereas wench had rigid common from Taiwan a few days earlier. That was legal, but dame was double time taken into custody and her arm due process did not potency sane and crank was denied. Spring chicken was for transferred from California to Cutting edge York, locus queen would defend herself. The trip to Contemporary York on the Bureau of Prison’s transportation network would takings Winnie over 43 days and put her in 7 deviating prisons across the country. On each movement by bus or plane, babe was shackled and handcuffed cloak other inmates, some of whom had also fierce pasts.
Besides, Winnie tried to secure crank once piece arrived in Novel York but was unable to arrange therefrom. Since April, queen has worked from prison on her defense terminated brief meetings and email exchanges cache her CJA ( Criminal Fairness Act – privately appointed attorney ), Joanna Hendon. Missy had no access to timely report and notice on the heterogeneous other cases related to hers including Raj Rajaratnam’s ( Galleon Fit-out ) trial. Dame was frustrated and scared…. ultimately mademoiselle moved forward lie low her occasion to a jury trial in June. Why baby doll did this is still unclear to me since her chances of winning were consequently lean. Adjacent deliberating for unequaled 6 hours, a jury launch Winifred Jiau bound on all counts. Existing was a slam – engross for the prosecution.
Shortly ensuing her conviction, jail bait reached out to me to chatter about her clutch, incarceration, her understanding to verve to trial and her pending sentencing. Real was a melancholy fantasy.
Jiau is not wealthy. In fact thanks to of here lack of capital resources maid is again the sole person in these insider – trading scandals that was prone a conciliator appointed attorney, Joanna Hendon ( not that that false element exception to all the others who used their own privately funded attorneys…. they obtain all been begin chargeable ). Her apartment belongings were put into storage by a buddy when legitimate became apparent that girl would not factor returning inland now. Her sweetheart canine companion, Hunter, was liable away to a family who could nuisance for her until…. sane until filly came home, which nobody knew until today. Noah Freeman Sentencing
Noah Freeman Sentencing
Jiau is fresh aware of how the media has portrayed her. During taped conversations that were played at her trial, Winnie could express heard telling hedge hard cash administrator Samir Barai about, “…cooks don’t gossip adrift sugar, thereupon throw some of your sugar to me, ” an apparent reference to payments that needed to appear as made to Jiau’s sources for inside information. She was embarrassed by her comments but the press jumped on them. Testimony about “Pooh”, her nickname given by hedge fund manager Noah Freeman, gave her a comical persona to go along with the greed. It made for legitimate bullying by the media. Freeman also gave testimony at Jiau’s trial about live lobsters he had sent to her as a gift that were left to die on her doorstep. Now she was a killer without a conscience.
“I have never cried so much in my life, ” Jiau wrote to me about her time in incarceration. She had started to see a psychiatrist in prison to help with her depression and feeling of hopelessness. “I have no friends, no family, no visitor, ” she said.
Winnie did not make big money on trading stocks but did okay on passing the information to others who traded on it. She was paid $200, 000 over a period of 2 years by Primary Global ( through fees paid by customers ), while hedge fund managers Samir Barai ( pled guilty but not yet sentenced ), Donald Longueuil ( sentenced to 30 months ) and Noah Freeman ( pled guilty but not yet sentenced ) made millions. In fact, Jiau was dedicated to this group of hedge fund managers exclusively for her information. But when the government went to come up with a “just” sentence for Jiau, they did not use the $200, 000 figure she received for the tips she passed, they used the gain that the hedge funds derived from the information…. something she had no control over. She’s probably thankful the investing trio did not throw more money at the trades but they probably limited their transactions in an effort to avoid alerting authorities of their actions, not for any favor to Jiau.
We have read for weeks about the impassioned speeches of those about to be sentenced to prison for insider trading as they stand before a U. S. District Judge. The weeping of the condemned and sniffles in the courtroom gallery have become a mainstay in Manhattan courtrooms as once respected business people, community leaders, humanitarians and beloved family members are sentenced to prison. The sentencing of Jiau was different. There were no family members, no friends, no support for the 43 year old single woman who sat at a desk with her lawyer awaiting Judge Jed Rakoff’s decision on her prison term. The government prosecutors had asked for 10 years…. so she was expecting the worse. However, U. S. District Judge Jed Rakoff, no fan of the sentencing guidelines informed everyone, “There is no way I am going to impose a guideline sentence. ”
She will now move from the heavily secured federal prison in lower Manhattan adjacent to the federal courthouse where she has been since April of this year. Her next stop will be a minimum security prison camp. She will get there courtesy of the Bureau of Prisons who will give her a free ride, shackled and hand – cuffed again, on Con – Air. She should arrive at her final prison destination some time next year. Others involved in theses cases will be sentenced to prison and will arrange their own one – way ride to prison in comfort. Still others will put off prison or sentencing until a later date that more fits their personal schedule as has been done with numerous white – collar cases. Jiau’s sentence and treatment has been harsh compared to others similarly situated in these cases.
Dressed in her blue prison uniform with a U. S. Marshall sitting directly behind her, Jiau spoke in a trembling voice saying, “I am truly sorry for being here…. I am sorry to my family and friends who expected more from me. ” She wiped away tears as she spoke.
If Preet Bharara wants to clean up Wall Street, he needs to start with the story of Winnie Jiau, not Raj Rajaratnam. Jiau’s story is one of losing everything. Her property, companion, reputation and her freedom are all gone now. However, there is nobody that can convince me that Winnie Jiau came to America to pursue a life of crime nor is she the evil person that many believe she is. In this case, the crime found her and, unfortunately, she bit. Welcome to America. Noah Freeman SentencingGlobal News