Court receiver Marika Tolz begins serving prison sentence
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Marika Tolz
South Florida Business Journal
Another Miami judge on Friday sentenced court receiver and bankruptcy trustee Marika Tolz, after which she reported to authorities to begin serving her time.
Miami-Dade Circuit Judge Matthew Destry on Friday sentenced Tolz to 81 months – the same sentence she received in her federal case – to be served at the same time as the federal sentence.
Tolz spent years as a trusted fiduciary for the federal and state court systems, but was hit with federal charges in March for misappropriating $16 million and pocketing about $2.4 million.
In July, she became the second receiver in South Florida to be imprisoned for fraud in a year. In 2010, receiver Lewis Freeman was sentenced to eight years and four months for using his position to misappropriate almost $7 million over 11 years, pocketing about $2.6 million.
Tolz’s state case mirrored the federal charges, but revolved around a more specific set of circumstances, where Tolz misappropriated money from the estate of a deceased man, James Christensen, which she was supposed to be overseeing.
Destry also ordered her to repay $550,000 missing from that account and $200,000 for attorneys fees from the case. She was previously ordered to repay all the missing funds as part of her federal sentence.
Tolz’s attorney, Benedict P. Kuehne, said she reported to authorities after the state sentence was handed down late Friday afternoon.
“Tolz is now in custody, having commenced the service of her concurrent sentences. She anticipates being transferred to her federal prison designation soon. She fully anticipates the restitution she has tendered to the United States Attorney’s Office will be sufficient to repay all funds in full,” Kuehne said. “[She] … has done all she could to correct the consequences of her wrongful conduct, and now looks forward to her return to the community, where she will endeavor to return to her life of good works and family.”
Tolz and Kuehne have said that she began dipping into accounts when her mother fell ill years ago.
View Slideshow
Marika Tolz
South Florida Business Journal
Another Miami judge on Friday sentenced court receiver and bankruptcy trustee Marika Tolz, after which she reported to authorities to begin serving her time.
Miami-Dade Circuit Judge Matthew Destry on Friday sentenced Tolz to 81 months – the same sentence she received in her federal case – to be served at the same time as the federal sentence.
Tolz spent years as a trusted fiduciary for the federal and state court systems, but was hit with federal charges in March for misappropriating $16 million and pocketing about $2.4 million.
In July, she became the second receiver in South Florida to be imprisoned for fraud in a year. In 2010, receiver Lewis Freeman was sentenced to eight years and four months for using his position to misappropriate almost $7 million over 11 years, pocketing about $2.6 million.
Tolz’s state case mirrored the federal charges, but revolved around a more specific set of circumstances, where Tolz misappropriated money from the estate of a deceased man, James Christensen, which she was supposed to be overseeing.
Destry also ordered her to repay $550,000 missing from that account and $200,000 for attorneys fees from the case. She was previously ordered to repay all the missing funds as part of her federal sentence.
Tolz’s attorney, Benedict P. Kuehne, said she reported to authorities after the state sentence was handed down late Friday afternoon.
“Tolz is now in custody, having commenced the service of her concurrent sentences. She anticipates being transferred to her federal prison designation soon. She fully anticipates the restitution she has tendered to the United States Attorney’s Office will be sufficient to repay all funds in full,” Kuehne said. “[She] … has done all she could to correct the consequences of her wrongful conduct, and now looks forward to her return to the community, where she will endeavor to return to her life of good works and family.”
Tolz and Kuehne have said that she began dipping into accounts when her mother fell ill years ago.
For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group - SIVG official forum http://sivg.org/forum/
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