Daibes must pay $1.7M fine promptly
Sought delay due to legal expenses
By: Kristie Cattafi
NorthJersey.com
USA Today Network - New Jersey
..... A North Jersey developer who was found guilty of bribery, fraud and obstruction of justice alongside Sean tor Bob Menendez will have to pay $1.75 million fine on time after a judge denied his request for an extension, citing his other assets including cash, gold bars and cars as ways to come up with the payments.
.....
Fred Daibes was sentenced in January [2025] along with Menendez and Egyptian businessman Wael Hana after they were convinced on related federal charges in U.S. district Court in the Southern District of New York.
..... The three were convinced in July [2024] on charges related to a scheme in which Menendez and his wife, Nadine Arslanian Menendez, were found to have received among other things cash, gold bars and a luxury car in exchange for the senator's using his political influence.
..... Menendez was convicted on 16 federal felony counts related to a bribery scheme and sentence to 11 years in federal prison.
..... U.S. District Judge Sidney Stein sentenced Daibes to seven years in prison and the fine. Hana was sentenced to more than eight years in prison and faces a $1.3 million fine.
.....
Daibes asked the judge for an amendment in his fine payment scheduled after missing the first two scheduled payments. The $1.75 million was ordered to be paid in four equal installment due on March 1, May 2 and July 1 and September 1. [2025]
..... Daibes' attorney wrote asked Judge Sidney Stein to consider the request incurred going though the appeals process and hiring new counsel.
..... "Additionally, Mr. Daibes' assets are largely tried up in real estate, which he has been attempting to liquidate to satisfy the fine. That process has taken longer that expected, and as such he has been unable to make any payments to date," Daibes' attorney Cesar de Castro and Shannon McManus wrote to the judge.
..... The government opposed the request.
..... Stein denied on May 15 [2025] in the belief that the assets in Dabies' checking account, the cars and gold he owns and his "highly monthly income" can cover the payments.
..... Daibes and Hana are schedule to report to prison on Monday, May 19, [2025] while the appeals process continues after the judge denied their bail request.