WASHINGTON — Sentencing for convicted bid rigger David Rubin has been pushed back to Dec. 3 from Oct. 18, at the request of his attorneys who said they need more time to prepare an analysis disputing the $11.5 million of restitution federal prosecutors are seeking from the founder of CDR Financial Products Inc.
Kenneth Murphy, a lawyer at Simon & Partners LLP, which represents Rubin, wrote to judge Kimba Wood at the U.S. District Court for the Southern District of New York twice in September requesting a sixty-day delay.
Rubin, who pleaded guilty to fraud and conspiracy in December 2011 for his role in a scheme to rig bids for municipal bond investment contracts, has had his sentencing date pushed back multiple times already from an original date of April 27, 2012.
Murphy wrote Wood that Rubin does not agree with the government's calculation of the restitution he should pay the victims, and that he may still be needed to testify against other bid riggers next year. The letters were written Sept. 12 and Sept. 24.
"As set forth in the Sept.12 letter, until the end of May 2013, we reasonably believed that Mr. Rubin's cooperation would continue into 2014 and that he would not be sentenced until late 2014 or early 2015," Murphy wrote. "In fact, Mr. Rubin was meeting with government lawyers as recently as four weeks ago to evaluate his potential utility in another pending matter."
Justice Department lawyers had previously requested a delay of Rubin's sentencing while they worked on the possibility of his cooperation against other defendants.
Between the restitution rebuttal and preparation of various other financial statements and documents needed by the sentencing date, it was not reasonable to be ready for sentencing this month, Murphy said in his letters.
Wood granted the delay to Dec. 3 despite opposition from the Justice Department, which opposed any extension beyond 30 days.
