UNION CITY–U.S. Attorney Paul J. Fishman announced Thursday that a real estate investor and property manager who lived in Union City pleaded guilty to one count of conspiring to launder money in order to make contributions to public officials in Union City in exchange for favors. The guilty plea stems from last summer’s FBI corruption investigation in which 44 people were charged.
Itzhak Friedlander, 42, pleaded guilty to conspiracy to launder approximately $175,000 to conceal and disguise unlawful activity.
According to Fishman, Friedlander admitted that from June 2007 to August 2008, he conspired with a cooperating witness (posing as a real estate developer) and co-conspirators Michael Altman and Shimon Haber (non-officials) to launder money from the cooperating witness through Friedlander’s account at a purported charitable entity called Gmach Shefa Chaim.
He and the conspirators planned to funnel up to $175,000 through the “charity” to public officials in Union City in exchange for approvals for developing a Union City property, the U.S. Attorney’s office charged.
The charge he pleaded guilty to carries a maximum statutory penalty of 20 years in prison and a $250,000 fine. The minimum recommended sentence is 24 to 30 months. He is currently released on $250,000 bond pending sentencing, which is scheduled for July 14.