Richard Lipsky, a former lobbyist for Echo Bay developer Forest City Ratner, received a sentence of three months in federal prison in connection to his political corruption guilty plea. The New York Times is reporting Lipsky's lenient sentence is in consideration of his (Lipsky's) "substantial credit for his cooperation" and, according to a 4 page letter issued from the office of Preet Bharara, U.S.Attorney for the Southern District of New York "substantial assistance in the investigation and prosecution of numerous other persons".
At the time of his entering a guilty plea in January, Mr Lipsky was facing up to 10 years in jail as a result of a broad investigation that included bribing a politician in return for favors that would benefit his clients. Among those involved were Brooklyn Democratic State Senator Carl Kruger who also plead guilty to corruption. Kruger was sentenced to 7 years in prison earlier this year.
Lipsky's clients included food and beverage distributors and, as named in the complaint, "developer number 1" who was later identified in news reports as Forest City Ratner. Lipsky's clients have not been accused of any wrongdoing.
Forest City was awarded the rights to New Rochelle's Echo Bay development that had begun as a sweeping 26 acre waterfront revitalization project that has since dwindled down to a little over 6 acres through the years. Forest City has long been considered a favored developer of New Rochelle Mayor Noam Bramson in light of considerable campaign contributions made by members of the Ratner family, current and former principals of the multi-billion dollar real estate investment trust (REIT) company.
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