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SEC defendant Patel's prison sentence cut short

2021-04-19 20:46 ET - Street Wire

Also Street Wire (U-EPTI) Environmental Packaging Technologies Inc

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by Mike Caswell

A Boston judge has allowed Milan Patel, an international tax lawyer jailed for his part in a $3.6-million scheme run by Canadian Morrie Tobin, to go free from prison early. (All figures are in U.S. dollars.) The release, which is for reasons that are not entirely clear, comes with Mr. Patel having served over half of his 15-month sentence. That sentence stemmed from a scheme in which he helped with a $1-million paid promotional campaign for a supposed liquids transport company, Environmental Packaging Technologies Inc.

Mr. Patel's release is contained in an amended judgment issued in federal court in Boston on Friday, April 16. The judgment changes his sentence to one of time already served, but adds six months of house arrest. During that period, Mr. Patel must not leave his home for any reasons that do not involve medical appointments or court appearances. He will be subject to electronic monitoring, which he must pay for.

Not stated anywhere in the amended judgment is the reason for the early release. The judge previously sealed a motion that contained Mr. Patel's release request, keeping all details of the matter from becoming public. (The sealing order came before the motion was even filed.) The only clue about the reason for release is in the title of the document, which was styled as a motion for compassionate release. Such motions usually arise in the case of extraordinary family or medical issues. Whatever the reason, prosecutors did not file anything to oppose the request.

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