According to this news report, a Saratoga Springs lawyer whose firm helped its clients Ronald and Esther Persaud file bankruptcy petitions has been granted testimonial immunity as a government witness in the criminal trial of the Persauds on charges including wire fraud, conspiracy and bankruptcy fraud. John M. Hogan, Jr., who requested the immunity grant before testifying this week, must testify truthfully to avoid prosecution.
The Persauds are charged with their son Shawn - an Albany Law School student - in a massive alleged scheme to raise investment money to secure millions of dollars in overseas funding for high-end development projects including theme parks, Caribbean resorts and a Lake George hotel. According to the charges, while the investors believed they were dealing with financiers with access to billions in overseas funding, the Persauds bankruptcy petitions painted a different picture altogether. Shawn Persaud is accused of assisting his parents to make purchases with the proceeds of their alleged crimes.