MOUNTAINDALE ––Sullivan County businessman, Daniel “Butch” Resnick, has entered a guilty plea to a charge of conducting an unlicensed money transmitting business, his …
MOUNTAINDALE ––Sullivan County businessman, Daniel “Butch” Resnick, has entered a guilty plea to a charge of conducting an unlicensed money transmitting business, his attorney Kerry Lawrence confirmed yesterday.
As the Democrat previously reported, Resnick turned himself in to authorities on December 16 after being accused of money laundering in a Federal criminal complaint, stemming from a year-long investigation by the FBI.
After posting a $500,000 bond, Resnick was released and agreed to surrender his firearms by December 23 and secure a bond with his residence.
Allegations in court documents stated, “From at least in or about August 2019 through at least in or about November 2020,” Resnick, “knowingly conducted, controlled, managed, supervised, directed and owned all and part of an unlicensed money transmitting business affecting interstate and foreign commerce, to wit, over the course of multiple separate transactions.”
According to court documents, Resnick allegedly transmitted a total of approximately $1,140,000 in funds “represented to be proceeds of securities fraud ... without an appropriate state license, which conduct was punishable as a misdemeanor and felony under New York State law ... without complying with the Federal registration requirements under Title 31, United States Code, Section 5330 and regulations prescribed thereunder, and ... knowing that the funds were intended to be used to promote and support unlawful activity.”
Moreover, as a result of “committing the offense alleged in Count One of this Information,” Resnick will have to forfeit any and all property, real and personal, involved in said offense, or any property traceable to such property, including but not limited to a sum of money in U.S. Currency representing the amount of property involved in said offense, to the U.S. Government.
According to Lawrence, they will ask the court to find that Resnick was minimally involved. Lawrence added that Resnick intends to satisfy his forfeiture obligation before sentencing and that no assets will be forfeited.
Resnick is credited with revitalizing Mountaindale in the Town of Fallsburg and operates several businesses across Sullivan County.
According to media reports, Resnick is expected to be back in court in June for sentencing.
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