In 2005, I worked briefly on a case involving Andrew Bandy, a property manager for Mallory Properties. Mallory Properties is one of the businesses owned by Milwaukee’s “Guiffre Brothers.” The company purchases distressed properties, renovates them, and rents them out. Bandy was a property manager there, responsible for overseeing the rental of buildings as well as repairs and improvements to those properties.
Michael Horne has an excellent synopsis of the case and the antics prior to this week’s sentencing. Horne writes:
According to the indictment in United States of America v. Andrew R. Bandy, Case No. 06-CR-257, dated October 11th, 2006, Bandy.s scheme operated from approximately April 2003 to approximately August 2005, employing the .false invoice. method, one of the most common embezzlement techniques.
The government charged that Bandy created a number of companies and controlled their bank accounts, including one for Click LLC, at Tri City National Bank, another for A. Property Management [APM] at the same bank, and one for Advanced Contracting at Guaranty Bank.
These firms would bill Mallory for alleged work, and the money, duly laundered, would wind up in Bandy.s personal accounts.
The scheme was eventually uncovered, in August 2005, but only after Bandy had been accepted as a near-family member by the Giuffres. He was immediately fired, and the Giuffres vowed to never let him steal from others again.
In short, Bandy is trying to weasel his way into a shorter sentence. Get this… Bandy pleaded guilty to bank fraud, in exchange for the government droppping 3 other charges against him. The prosecution and defense considered the federal sentencing guidelines, and the sentence should fall within a certain range because of a “base” level of seven, a 12-level increase for a theft over $200,000, a 2-level increase for “abuse of a position of trust,” and a 2-level decrease for “acceptance of responsibility.”
But Bandy is now saying that instead of embezzling $222,148 from Mallory (per the plea agreement), it really was only $176,000. Is it coincidence that this would get him under $200,000 and reduce his sentence???
Check out Michael Horne’s site for more on Bandy’s questionable past.
Sentencing is May 11, at 10:30 am in the courtroom of Hon. Lynn Adelman, U.S. District Court for the Eastern District of Wisconsin. The sentencing has been delayed until Tuesday, May 29th 2007 at 3:30 p.m.