Peddler Of Shell Cos. Gets Time Served For Beaufort Fraud

Law360, New York (April 2, 2019, 11:21 PM EDT) -- A New York federal judge on Tuesday declined to order further incarceration for the general manager of an affiliate of now-shuttered brokerage Beaufort Securities Ltd., deeming the nearly 14 months he's already served in his money-laundering case to be adequate deterrence.

At a morning sentencing hearing in Brooklyn, U.S. District Judge Kiyo Matsumoto handed down a sentence of time served for Arvinsingh Canaye, 31, who previously pled out to a single count of money laundering conspiracy and has been in custody since his arrest last year.

Prosecutors say that while he was heading Beaufort Management Services Ltd. on the island of...

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Case Information

Case Title

Subscribers Only

Case Number

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New York Eastern

Nature of Suit

Date Filed

February 28, 2018

Government Agencies