MOSCOW, February 28 (RAPSI, Ingrid Burke) – Nicholas Hirsch, a defendant who pleaded guilty to conspiracy to commit wire fraud in a high-profile US criminal case targeting Russian-American organized crime, was sentenced Tuesday to two years’ probation, 300 hours’ community service, and a $5,000 fine.
In an indictment unsealed by US prosecutors in April, Hirsch was charged alongside 33 co-defendants in connection with two alleged Russian-American criminal enterprises accused of having laundered tens of millions of dollars through such means as the operation of at least two international bookmaking operations.
According to the statement accompanying the indictment, the bookmaking organizations catered to extremely wealthy clients in the US, Russia, and Ukraine.
Describing the two organizations, the prosecution statement claimed: “One enterprise, the Taiwanchik-Trincher Organization, run by VADIM TRINCHER, is alleged to have laundered tens of millions of dollars from Russia and the Ukraine through Cyprus and into the U.S. The other enterprise, the Nahmad-Trincher Organization, run by ILLYA TRINCHER, the son of VADIM TRINCHER, is alleged to have been financed by, among other entities, a prestigious art gallery in New York City.”
The statement noted that Hirsch faced 20 years in prison along with three years of supervised release, as well as a fine of either $500,000 or twice the amount of money gained from the alleged crimes, or twice of that lost by the victims on a charge of conspiracy to commit wire fraud.
Hirsch pleaded guilty to the single count of conspiracy to commit wire fraud in October.
In a sentencing memo filed on February 11, Hirsch pleaded with the court to consider him in his entirety, not merely for the conduct that led to the present charges, urging: “Nicholas Hirsch accepts full responsibility for his conduct and now comes before this Court to accept the consequences of his actions. He understands that the path that brings him before Your Honor was forged of his own free will and poor decision. He is truly sorry for his actions.”
The memo went on to emphasize the upstanding life he left behind: “He has compromised a promising career in the financial services industry, built through a decade of hard work, and tarnished an otherwise impeccable reputation. He has disappointed family and friends. For this, he blames no one but himself.”
According to the memo, the plea agreement stipulated a $25,000 forfeiture and a sentencing guideline ranging from four to ten months of custodial service, further providing that the defense team could argue for a below-the-range sentence.
A week later, prosecutors filed a submission stating that imprisonment for a term ranging between four and ten months would be appropriate.
Prosecutors stated, “Hirsch’s offense was motivated by pure greed,” adding, “It is troubling that Hirsch committed this fraud despite having enjoyed an excellent upbringing, education and career.”
Hirsch’s probation terms stipulate that he is prohibited from possessing a firearm, ammunition, destructive devices, and dangerous weapons. Furthermore, he will be required to cooperate with DNA collection as directed by his probation officer. He will be required to provide his probation officer with access to his financial information if he fails to pay his fine, as well.