New York Syrian Jewish Community Leader Pleads Guilty To Money Laundering

The U.S. Attorney's Office in Trenton, New Jersey announced on Monday that 89-year old Rabbi Saul Kassin, a leader of New York's Syrian Jewish community pleaded guilty to an Information (full text) charging him with operating an illegal money remitting business. As summarized by JTA:

Kassin confessed to using his Magen Israel Society to launder money given to him by Solomon Dwek, a real-estate tycoon and the son of a prominent Syrian rabbi who was arrested in 2006 for a $50 million bank fraud. Under the system, Kassin and the charity kept 10 percent. Dwek later became a federal informant.

As part of his plea agreement, prosecutors will nos seek a prison sentence. However Kassin agreed to forfeit $367,500 in funds seized from the Magen Israel Society's bank account. He could also be fined up to $250,000. (See prior related posting.) Kassin was originally arrested as part of a larger public corruption and money laundering probe in 2009. (See prior posting.)