NEW YORK — Former Speaker of the New York State Assembly, Sheldon Silver moved to continue bail and stay his fine after a jury found him guilty on two counts of honest services mail fraud, two counts of honest services wire fraud, two counts of extortion under color of official right, and one count of money laundering. Silver was alleged to have schemed to received referral fees from a physician in connection with asbestos litigation.
Silver’s motion to continue bail was denied as the “Government need not prove an agreement or meeting of the minds between the briber taker and bribe giver to prove the existence of the quid pro quo element of either the honest services fraud or color of official right extortion.” Denied in part by the court was Silver’s motion to stay the fine and forfeiture. Although empathetic to losing his residences, the court cited a lack of merit in his appeal. However, the court reduced his $1.2 million dollar fine due on September 21, 2018 to $750,000 with additional terms to pay monthly thereafter.