Carlyle Gaming & Entertainment Ltd.: Sandy Masselli, Jr. Indictment Dismissed
Disclosure Pursuant to Securities & Exchange Commission Item 401 (f) 0f Regulation S-K
(firmenpresse) - NEW YORK, NEW YORK -- (Marketwired) -- 03/26/15 -- (filed Item 401 (f) 0f Regulation S-K) - Sandy J. Masselli, Jr., Chief Executive Officer of Carlyle Gaming & Entertainment Ltd., as a result of information accumulated by counsel for Sandy J. Masselli, Jr. and the filing of a court application on November 18, 2011, the charge of the Third Degree Forgery in regard to the alleged check kiting scheme was dismissed with the consent of the County Prosecutor. Sandy J. Masselli, Jr. and his legal counsel have always believed the entire matter was a civil dispute. The remaining charges including second degree theft by deception was also dismissed and all of these charges are pending expungement from the record.
On March 16, 2011, Mr. Masselli, Jr. was indicted in Monmouth County, New Jersey for a charge of second degree theft by deception and a charge of third degree forgery in relation to an alleged check kitting scheme in the amount of $93,000. Sandy J. Masselli, Jr. immediately retained counsel for consultation and advice, as the Monmouth County Prosecutor had investigated the incident approximately two and one quarter years prior to this indictment, and at the time of that investigation, it was decided that the matter was civil
Sandy J. Masselli, Jr. was a plaintiff in a civil lawsuit against the bank, the alleged victim, and also in a civil Canadian lawsuit against the two individuals that were responsible for the management of his business account and the disbursement of checks. In the Canadian lawsuit, The Supreme Court for the District of Quebec issued a Writ of Pre Judgment against these two individuals and has located $500,000.00 in assets that are the property of Sandy J. Masselli, Jr., but placed by these two individuals in a separate account that they controlled.
Carlyle''s legal counsel had advised the Company that the criminal charge of check kiting requires control of two bank accounts by a single person in order to be applicable. With regard to the two accounts that were involved in the matter, Sandy J. Masselli, Jr., did not have control of any kind with regard to one of them. The account over which he had no control was an account that was opened by two other individuals, giving them sole and complete control. Therefore, the legal theory of the indictment was not applicable.
A debt to a creditor is a civil matter, not a criminal matter. Moreover, the involved entity bank which owed Sandy J. Masselli, Jr., a great deal more than he owed to them. All of which was resolved in a civil matter in the Superior Court of New Jersey.
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Datum: 26.03.2015 - 18:19 Uhr
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News-ID 1347156
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