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Subject:

Ex-Informant Is Sent to Jail

Author:
Rosco P=coltrain

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Date Posted: 11:16:01 05/31/03 Sat

Ex-Informant Is Sent to Jail
By THE NEW YORK TIMES

former stockbroker and federal informant who cooperated on a book about the Mafia's influence on Wall Street was jailed yesterday after he refused to comply with an agreement to be relocated to help ensure his safety.

The broker, Louis Pasciuto, pleaded guilty in December 1999 to three counts of securities fraud and conspiracy. The book, "Born to Steal: When the Mafia Hit Wall Street" (Warner Books), by Gary Weiss, a senior writer at Business Week, documents the involvement of Mr. Pasciuto in securities-fraud schemes at small stock brokerage firms in New York and his turn as a cooperating witness against some of his former colleagues and employers.

After learning of the book in April, federal prosecutors in New York sought to revoke Mr. Pasciuto's bail, saying they feared for his safety given the revelations in the book.

Mr. Pasciuto objected and said that the government was acting in bad faith by trying to punish him for his involvement in the book, which, he said, did not violate his cooperation agreement with prosecutors. Shortly before a scheduled hearing last week, prosecutors and Mr. Pasciuto agreed that he would be relocated to an undisclosed location until sentencing.

This week, however, five days after signing the relocation agreement, Mr. Pasciuto changed his mind and refused to comply. Judge Richard C. Casey of the Federal District Court in Manhattan ruled yesterday that Mr. Pasciuto violated the agreement and had him jailed until his sentencing, scheduled for Aug. 29.

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