CDR Financial’s Rubin Asks Appeals Court for Delay of Trial

CDR Financial Products Inc.’s David Rubin asked an appeals court to delay a trial scheduled for next month because of his wife’s terminal illness, after a lower- court judge rejected the request.

U.S. District Judge Victor Marrero in New York last week denied Rubin’s request for a postponement in the trial, which is to take two months starting Jan. 9. Marrero also denied a request that Rubin be tried separately from two codefendants.

Rubin, the founder of Beverly Hills, California-based CDR, and two other employees are charged along with the company as part of an investigation into bid- and auction-rigging in the municipal bond market. Rubin, the firm’s former chief financial officer, took kickbacks for running sham auctions for the investments, prosecutors said. All pleaded not guilty.

“The trial continuance sought by this petition arises from an impending family tragedy that will have an inevitable but very unfortunate end,” Rubin’s lawyer, Bradley Simon, said today in a petition to the Manhattan-based Court of Appeals.

Rubin, who lives in California, says his wife is in the final stages of aggressive pancreatic cancer. The couple have seven children, the youngest 2 1/2, he said.

“Some reasonable continuance is appropriate,” the defense lawyer said. “Mr. Rubin plainly cannot abandon his wife and family for two months at this critical time.”

Terminal Cancer

Rubin won’t be able to participate in his defense because he will be helping care for his wife, Simon said. If the trial proceeds while he is dealing with family matters, he will be tried in absentia, the lawyer said.

“The continuance will not prejudice the rights of any party or make a difference in the outcome of the trial,” Simon wrote. “Its grant will bring a dose of humanity to the administration of justice and safeguard petitioner David Rubin’s ‘clear and indisputable’ Fifth and Sixth Amendment constitutional rights to be present and participate meaningfully in his own defense at his criminal trial,”

The case is U.S. v. Rubin, 1:09-cr-01058, U.S. District Court, Southern District of New York (Manhattan).

To contact the reporter on this story: Patricia Hurtado in New York at

To contact the editor responsible for this story: Michael Hytha at

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