Omar Amanat, a tech entrepreneur who invested in the studio involved with ‘Twilight Films’ has been slapped with a five year prison sentence after he was found guilty of fraud charges linked to video technology company Kit Digital Inc.
Last week, U.S. District Judge Paul Gardephe in Manhattan ruled that Amanat expressed incredulity that a highly gifted and intelligent defendant could show an extraordinary high level of criminal culpability.
“He did not make one bad decision. He made countless bad decisions. Why he engaged in criminal conduct is a mystery,” said the judge.
According to the prosecutors, back in December 2008 to September 2011, Amanat and Tuzman Maiden Capital hedge fund manager conspired to manipulate Kit Digital making it to buy and sell shares painting an illusion of big trading volume which would push the stock up.
The prosecutors further added that Amanat also planned to scam Maiden investors by having the hedge fund hide losses in a Dubai based fund which he had raised money for.
“There is no fancy way to say this, I was wrong. My father passed away while I was in solitary. I couldn’t say goodbye. He was a good man, and he deserved a better son,” pleaded Amanat.
