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Kissel brother held for fraud
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July 30, 2005
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The brother of murdered banker Robert Kissel was
arrested Tuesday in the United States and charged with committing fraud, the New
York Times reported.
Andrew Kissel, a real-estate developer from the wealthy town of Greenwich,
Connecticut, was charged by prosecutors with ''unlawfully, willfully and
knowingly'' defrauding a number of banks in transactions that involved about
US$25 million (HK$195 million). He faces up to 20 years in prison if convicted.
He was released into home detention after posting bail of US$1 million and
agreeing to wear an electronic monitoring device, his lawyer said, the Greenwich
Times reported.
Prosecutors allege that he used fake mortgage documents to borrow higher amounts
than usual on a number of properties by convincing four banks that the
properties were not encumbered by debt.
Kissel's lawyer said he was under severe stress because of marital discord. His
wife, Hayley, filed for divorce in March.
The couple also has been caring for Robert and Nancy Kissel's three children
while she is on trial.
STAFF REPORTER
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Copyright 2005, The Standard, Sing Tao Newspaper
Group and Global China Group. All rights reserved. No content may be
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