Byline: Thomas Caywood; Jay Whearley
WORCESTER - The once high-flying Shrewsbury investment adviser who drove the streets in flashy Mercedes-Benz and Porsche automobiles, and who had the city's most prominent businessman as a star client, was found guilty yesterday afternoon of stealing $13 million from five investors.
The jury of seven women and five men deliberated for less than three hours, after a two-week trial that involved boxes of financial documents, before finding Amit Mathur, 37, guilty of all 20 federal mail and wire fraud charges against him about 3 p.m.
Mr. Mathur, the founder and president of Entrust Capital Management investment fund, remained silent and motionless as the court clerk read the jury's verdict count by count. "Count 1, guilty. Count 2, guilty. Count 3, guilty ..."
After the 20th guilty verdict was read and the jury filed out of the courtroom, Assistant U.S. Attorney John A. Capin moved to have Mr. Mathur immediately jailed pending his sentencing, scheduled for Sept. 5.
Mr. Capin argued that the defendant had relatives in India and that his former business partner, stock trader Rajeev Johar, who also was charged in connection with Entrust, already had fled to that country.
U.S. District Court Judge F. Dennis Saylor IV ordered Mr. Mathur taken into custody on the spot.
A U.S. marshal came forward with a set of silver handcuffs and waited as Mr. Mathur spoke to his lawyer, emptied his pockets and then removed his shiny gold necktie. The marshal then secured the defendant's arms behind his back and led him out of the courtroom as his elderly parents watched silently.
Mr. Capin, the prosecutor in the case, said in his argument for immediate detention that Mr. Mathur likely would face a sentence of 13 to
14 years in prison, based on federal sentencing guidelines.
Mr. Mathur had been offered a plea deal of 8 years as late as January, but he turned it down in February and elected for a trial, saying he wanted to clear his name.
The lead defense lawyer, Paul J. Andrews, argued unsuccessfully that his client should remain free pending his sentencing because he had never missed a court hearing and had ample opportunity to flee the country after his indictment more than a year ago.
The guilty verdicts, which Mr. Mathur's defense lawyers indicated they intend to appeal immediately, followed two tumultuous days of motions and countermotions, and four quickly scheduled hearings in which the credibility of several prosecution...