Breaking News

Glaxo to Pay $488.7 Million Fine to End China Corruption Probe
Tweet TWEET

Sopranos Star’s Ex-Husband Pleads Not Guilty in Stock Fraud

An investment firm chief who is the ex-husband of an actress on “The Sopranos,” pleaded not guilty to federal charges that he ran a scheme to manipulate stocks, including those of a startup company advised by former New York Governor David A. Paterson.

Abraxas J. Discala, chief executive officer of OmniView Capital Advisors, and six other individuals including investors, brokers and an attorney were charged in a 10-count indictment by a grand jury unsealed July 17 in federal court in Brooklyn, New York. The defendants were accused of manipulating the stock of four companies, including CodeSmart Holdings Inc. (ITEN), causing investors to lose as much as $50 million.

Discala, 43, at one time married to Jamie-Lynn Sigler, who played Meadow Soprano on the HBO television series, was allowed to remain under home detention in Connecticut as part of a $2 million bail package. Discala’s lawyer, Joe Tacopina, disputed terms of the arrangement with prosecutors, saying that his client is still pursuing a “massive deal” and wants to have freedom to meet with technology companies that could include Google Inc. (GOOG) and Microsoft Corp. (MSFT)

“We thought we had an agreement,” Tacopina told U.S. Magistrate Judge Joan Azrack today in court about the bail arrangement.

Tacopina declined to describe the deal his client was working on after the hearing, saying it wasn’t related to the charges in the case. While Discala wasn’t given permission to go to the meetings, he will continue to seek it, Tacopina said.

Merchant Banking

On its website, OmniView describes itself as a “merchant banking and financial advisory firm” which provides strategic funding to privately owned, middle-market firms to facilitate growth plans, management buyouts, capital restructuring, acquisitions and other deals.

CodeSmart, which provides training for medical coding, had retained OmniView in 2013 to assist with capital and transaction strategy, the company said in a statement.

Discala faces charges of conspiring to commit securities, wire and mail fraud and wire fraud, according to prosecutors. If convicted, he could be sentenced to more than 30 years in prison, the government said.

CodeSmart announced in March that Paterson had joined the company’s advisory board. Paterson and Sigler aren’t accused of any wrongdoing in the case.

The case is U.S. v. Discala, 14-cr-00399, U.S. District Court, Eastern District of New York (Brooklyn).

To contact the reporter on this story: Christie Smythe in Brooklyn at csmythe1@bloomberg.net

To contact the editors responsible for this story: Michael Hytha at mhytha@bloomberg.net Joe Schneider

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.