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Christopher Menkin
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Christopher "Kit" Menkin is of editor LeasingNews.org (http://www.leasingnews.org/), an internet trade publication for the finance/leasing industry. He has 46 years experience in the finance/leasing industry as well as being a founder of a commercial regional bank and serving on several company... More
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  • Schwartz To Get Out of Jail: $2 Million Bail 4 comments
    Sep 15, 2010 1:05 PM


     

    Charles K. Schwartz, President of Allied Health Care Services, Orange, New Jersey Schwartz, was granted $2 million bail after his arrest last week by the Newark FBI in an alleged $87 million equipment- leasing fraud.

    He has been in custody since last Thursday. Bail has been set at $2 million with the collateral to be real estate. As soon as he satisfies this condition, he will go on home detention with electronic monitoring. U.S. Magistrate Judge Madeline Cox Arleo in Newark federal court also ordered him to undergo mental-health treatment.

    Meanwhile the Allied Chapter 7 Involuntary Bankruptcy proceedings in Newark, New Jersey appear to moving along in quite a fast speed. The 24 separate complaints were notified of the bankruptcy, with scheduled hearings mostly moved back to October, as objections to Charles K. Schwartz trustee appointment were heard and Schwartz's rebuttal. It appears appraiser, auctioneer, accountants, and attorney firm for the new trustee.

    Creditors were able to obtain their choice of trustee over Schwartz's objection and his attorney’s original motion. Named was Eric R. Perkins, Esq., McElroy, Deutsch, Mulvaney & Carpenter, Ridgewood, New Jersey.
     


    Eric R. Perkins
    Partner
    Undergraduate
    B.A., Columbia College, 1981
    Law School
    J.D., Washington College of Law, American University, 1984

    Mr. Perkins currently serves on the Panel of Chapter 7 Trustees for the United States Bankruptcy Court, District of New Jersey, Newark Vicinage, and has been a member for over ten years. Mr. Perkins has also received numerous appointments as a Chapter 11 Trustee. His Chapter 11 Trustee appointments have been in a wide array of industries and businesses including, but not limited to, the medical and dental fields.
     

    Full CV:
    http://www.mdmlaw.com/attorney_detail.asp?EmpId=1605

    Allied Trustee Appoint Notice:
    http://leasingnews.org/PDF/AlliedBKTrustee.pdf

    Allied Trustee Appointment:
    http://leasingnews.org/PDF/AlliedBKTrusteeappointment.pdf

    Trustee Opposition by Schwartz:
    http://leasingnews.org/PDF/alliedtrusteebkappointment.pdf
     

    Previous Stories:
    http://www.leasingnews.org/Conscious-Top%20Stories/allied_health.html



    Disclosure: no position

    Disclosure: no position
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Comments (4)
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  • Gunnerblossom
    , contributor
    Comments (6) | Send Message
     
    Mr. Menkin - when will you get your facts straight? Charles Schwartz
    is still in jail and has not yet been released (today is 9/25/10).
    25 Sep 2010, 07:17 PM Reply Like
  • Christopher Menkin
    , contributor
    Comments (98) | Send Message
     
    Author’s reply » Essex County Jail will not give me the information, but I will
    accept yours as being reliable.

     

    In that regard, I did mention it in today's story, as well have
    edited the archive stories to reflect the information. The condition
    was $2 million in real estate collateral, according to the court
    record, and perhaps the ability or paperwork is the delay.

     

    If you see any other errors or typo's, please let me know at kitmenkin@leasingnews.org or here---your choice.
    27 Sep 2010, 02:07 PM Reply Like
  • Christopher Menkin
    , contributor
    Comments (98) | Send Message
     
    Author’s reply » Not according to the court record, and Bloomberg:

     

    www.businessweek.com/n...

     

    leasingnews.org/PDF/Sc...

     

    I will note in a story that while granted bail, he remains in jail,
    according to a well informed source.
    26 Sep 2010, 05:50 PM Reply Like
  • Gunnerblossom
    , contributor
    Comments (6) | Send Message
     
    Call the Essex County Jail and verify this information for yourself.
    27 Sep 2010, 09:10 AM Reply Like
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