A federal judge on Monday allowed a woman charged with money laundering in a securities fraud case to remain free while her case plays out.
Jessica Cusimano surrendered her passport and assured Magistrate Judge H. Kenneth Schroeder Jr. that she will not travel outside the federal court district for Western New York. She also said she will continue residing in the Chautauqua County community of Lakewood.
Cusimano is the first of three defendants to appear in court after the Internal Revenue Service named them in a criminal complaint revealing a “pump and dump’’ scheme in which consulting companies, newsletters and email blasts were used to artificially inflate the value of penny stocks. The main players in the scheme, according the IRS, were Cusimano’s husband, Eric, who is to appear in court Friday, and Jamie Boye. An appearance date for Boye is not yet known.
Jessica Cusimano, also known as Jessica Yadira Lopez, is not charged with securities fraud but with participating in transactions that would mask the source of her husband’s income. According to the complaint, a nearly $50,000 pontoon boat purchased by her husband in 2011 was registered in her name. She applied for an insurance policy on the craft under the name Jessica Lopez and said she was single, the IRS said.
The Cusimanos, who have residences in Texas and Chautauqua County, were arrested in Panama this month and handed over to federal agents at JFK Airport in New York City.