AK
Adam Kidan
pardonFinancial / FraudFurther reading
Convicted of
Adam Kidan was a businessman and partner of lobbyist Jack Abramoff. In 2000, Kidan and Abramoff agreed to purchase SunCruz Casinos — a fleet of gambling cruise ships — from owner Konstantinos "Gus" Boulis for $147.5 million. To finance the deal, they obtained a $60 million loan from lenders by submitting fraudulent documents fabricating a $23 million cash down payment that was never actually made; in reality, Kidan and Abramoff had secretly negotiated a reduction in the purchase price without disclosing this to the lenders, creating false records to make it appear they had contributed their own funds. Kidan pleaded guilty to one count of conspiracy and one count of wire fraud in connection with the fraudulent acquisition. The case was entangled in a separate Florida criminal investigation into the 2001 murder of Gus Boulis, in which Kidan was investigated but not charged. The fraud's victims included the financial institutions that extended the acquisition loans. Trump had a prior business relationship with Kidan, who made payments to Trump-affiliated entities during this period.
Original sentence
Pleaded guilty to conspiracy and wire fraud in connection with the fraudulent SunCruz acquisition. Sentenced on March 29, 2006 to 70 months (nearly six years) in federal prison, three years' supervised release, and $21,701,015.45 in restitution — jointly and severally with Jack Abramoff.
Post-pardon activity
0mentions
0new offenses
No post-pardon activity recorded yet.
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