NEW YORK -- A former New York Islanders co-owner who received a
10-year prison term for a fraud conviction had his sentence cut in half
Wednesday by a judge who cited his good deeds and cooperation with
prosecutors.
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.U.S. District Judge Loretta A. Preska in Manhattan said 69-year-old
Paul Greenwood deserved a reduction to five years. She noted that he
regularly did charitable acts long before he became embroiled in an over
half-billion-dollar financial fraud that spanned a dozen years.The 2nd
U.S. Circuit Court of Appeals in Manhattan ordered the resentencing this
year, saying another judge wrongly based the 10-year sentence in part
on a finding that Greenwood had left some individuals financially
devastated.Assistant U.S. Attorney Jessica Masella said 98 to 99 percent
of investors money had been recovered, and the government sent the
judge a letter citing the role Greenwoods substantial cooperation had
played in the prosecution of another defendant, Stephen Walsh. Walsh
eventually pleaded guilty and was sentenced to 20 years in
prison.Greenwood and Walsh owned a controlling interest in the Islanders
hockey team from 1992 to 1996.Greenwood pleaded guilty in 2010 to
securities fraud, admitting cheating charities, schools and others out
of hundreds of millions of dollars. He used a portion of the money to
buy collectible teddy bears and to invest in $100,000 horses.According
to a 2008 magazine article, Greenwoods collection of teddy bears
included more than 1,350 Steiff toys. Among them were 74 bears, plus
birds, cats, insects, dinosaurs, kangaroos, seals and
squirrels.Prosecutors said Walsh and Greenwood carried out the fraud
from 1996 through February 2009, cheating institutional investors in
particular.During those years, the men operated a securities business
while Greenwood lived in North Salem, Connecticut. The businesses
included WG Trading Co. LP, based in Greenwich, Connecticut, and
Westridge Capital Management Inc., in Santa Barbara, California.Five
years ago, Greenwood moved to Southern Pines, North Carolina, where his
lawyer said he regularly tutored veterans and performed other charity
work.Speaking by phone from prison Wednesday, Greenwood again
apologized.I cannot express deeply enough how sorry I am, he said.
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Oyama had six birdies and two bogeys at Kintetsu Kashikojima in the event also sanctioned by the Japan LPGA Tour.
"I have been having this neck ache thats been affecting my golf recently," Oyama said.
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Fellow centre Pavel Datsyuk remains out because of a concussion.
Zetterberg has 11 goals and 19 assists for a team-high 30 points, and Datsyuk has a team-high 12 goals and 11 assists.
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The 18-year-old American had five birdies in her bogey-free round for a
17-under total of 196. Lee held the overnight lead but mixed three
birdies with two bogeys for a 70.
We all like an underdog, dont we? That position always seems to
be the case whenever a horse steps on the big race stage trained by
Peter Gelagotis.This Saturday may just see his unfashionable training
location deliver a second victory at Group 1 level, with Malaguerra in
the Winterbottom Stakes over 1200 metres at Ascot in Perth.What is cool
about Gelagotis and his family-centric training team is, they are
winners. Their touch isnt necessarily golden, but they are high
achievers despite the odds often being against them. There is even a
chicken shop that plays a part in this story too and a lesson in
customer service.Weve been there. Weve experienced the top echelon of
competition, Peter Gelogotis told ESPN from Perth.I think we are every
bit of being able to handle these situations and equally as competent in
being able to uphold our CV when it comes to these races, whether the
horse has come to us from a Hall of Fame stable or whether weve trained
them from the beginning ourselves, he added in reference to the boutique
stable that he heads of less than 20 chargers.I dont think we punch
above our weight. I reckon we fly under the radar. Theres a lot of good
trainers out there and I think we fall into that category. We dont get
these opportunities as regularly as the big guys, but when we do were
there.Peter is closely supported by his brother Manny and they are
sometimes relatively outspoken in their views on racing matters, which
has developed for them somewhat of a cult following for it. Theyve
developed similar cult heroes in their stable like Group 1 winner
Mourinho and later acquisitions such as The Cleaner and Malaguerra, they
have thrust themselves into the spotlight with their horses
performances.Newborough is a proud little town near Moe, situated two
hours east of Melbourne and the area is home to around 16,000
people.Even Manny described it as being as unfashionable. That, though,
has never stopped them.Were not a small stable on purpose. We started
with six boxes at our stable and have expanded to a capacity of 20 over
time with evolution, he said. Our stable isnt the Taj Mahal but the
horses all have their space, they can have a pick of grass whenever they
like. It is that next-to-nature experience that makes a real difference
to them.The Gelagotis made racing headlines in 2016 and were painted as
poachers of other talented gallopers from other trainers. The Cleaner
became a Tasmanian hero for his guaranteed frontrunning while under the
care of the horse racing battler Mick Burles.Similarly, after winning
the Groupp 1 BTC Cup (1200m) in Brisbane in June, Malaguerra was
sensationally transferred from Hall of Fame trainer Lee Freedman to the
Moe-based team.
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Seemingly, it is a customer-first, friendly approach taken by the
Gelagotis that saw the owners of those horses gravitate towards them.We
had several days at the races where it was Mourinho vs. The Cleaner. We
got to know the ownership of The Cleaner intimately (by just being
there). In true racing style, when they won, we congratulated them. The
winning margins were always tight and we also liked to acknowledge the
good stories, Gelagotis said of what would soon become a talking point
in racing of 2016.As he further explained, the ownership of both horses
wanted to make a change - each their own reasons - and chose Peter
Gelagotis. While The Cleaners career was already in decline, Peter has
risen to the challenge of continuing Malaguerras Group 1 winning
form.Malaguerra started at $9.50 when winning in the Group 1 Darley
Classic (1200m) at $9.50 on the final day of the Melbourne Cup
Carnival.Ive (currently) got two good sprinters in Malaguerra and
Illustrious Lad, Gelagotis said, with the latter being the winner of the
Group 2 Linlithgow Stakes (1200m) at Flemington on Derby Day.You can
compare them (in their work). After they both came through their
first-up runs hugely.... we were super confident in the ability of both
horses to win their races and were rolling into the Winterbottom equally
confident.Before the Darley, Ben Melhan (jockey) said to me: just have a
good nights sleep, mate, Ill win the race for you.As Melham did just
that, the five-year-old gelding lines up this week in an unusual
position for a Gelagotis-trained Group 1 galloper as the UBET $3.60
favourite.But where does their attitude to their business and success in
racing stem from? The answer: a take-away and restaurant chicken
shop.My dad emigrated to Australia from Greece as a 16-year-old. He
started to from scratch and the chicken shop has been this familys
livelihood, he said. He taught us that the customer is always right.
That business is the backbone of our family. We treat our owners that
way and provide them with great service and communication.You have to do
that. Just like the chicken shop, if treat your customers poorly then
they wont come back.With that thinking and a very positive preparation,
Malaguerra is all set to deliver yet again. Just like the chicken shop.
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