2 Cop Pleas As Manhattan DA Looks To Wrap Newsweek Case

Law360, New York (February 14, 2020, 4:25 PM EST) -- The co-owner of IBT Media Inc., which once owned Newsweek magazine, and the CEO of a religious publisher pled guilty to fraud and money laundering before a New York state judge Friday as the Manhattan district attorney's office pushed toward a "global resolution" of a $36 million loan scheme.

IBT Media co-owner Etienne Uzac and Christian Media Corp. CEO William Anderson copped to fraud and second-degree money laundering counts before New York Supreme Court Justice Ruth Pickholz. They are scheduled to be sentenced on April 20 for the low-level felony offenses.

Both men entered pleas after extensive negotiations and expect sentences that...

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