Ex-LinkBrokers Employee Gets 18 Months for Role in Fraud

Marek Leszczynski, a former broker at LinkBrokers Derivatives Corp., was sentenced to 18 months in prison for his role in a scheme that involved lying to clients about the prices of securities bought and sold for their accounts.

Leszczynski pleaded guilty in August in New York to one count of conspiracy. While he faced a prison term of 46 to 57 months, Steven Feldman, his lawyer, sought a sentence of time served. Feldman said yesterday that a prison term means Leszczynski, a U.K. citizen, will be deported.

“I know I need to be punished for what I have done, but any punishment that results in my being deported will be a life sentence,” Leszczynski told U.S. District Judge John Keenan in Manhattan before the sentence was imposed.

“It will rip my family apart,” he said, adding that his wife and two daughters are U.S. citizens. “I want to be there for my daughters. I want to see them grow up. Please exercise as much leniency as possible for the sake of my daughters.”

Keenan said that in November he sentenced co-defendant Benjamin Chouchane, whom he considered more culpable, to two years in prison.

“The reason I am doing this is because of the amount of the loss and the fact that this was an ongoing crime that took place over a two-year period,” Keenan said.

According to the U.S., Leszczynski defrauded clients at LinkBrokers, a unit of London-based ICAP Plc, by misrepresenting the execution prices of the securities he and his co-defendants were asked to buy and sell, costing clients about $1.5 million.

Keenan ordered Leszczynski to surrender to U.S. Marshals on March 31. A third man, Henry Condron, pleaded guilty to being part of the scheme in October 2012, and is scheduled to be sentenced Feb. 5, said Jennifer Queliz, a spokeswoman for Manhattan U.S. Attorney Preet Bharara.

The case is U.S. v. Leszczynski, 12-cr-00923, U.S. District Court, Southern District of New York (Manhattan).

Before it's here, it's on the Bloomberg Terminal. LEARN MORE