Sentencing of ex-American Tissue CEO postponed again

The long-awaited sentencing of convicted former American Tissue CEO Mehdi Gabayzadeh has been postponed once again.

Gabayzadeh was scheduled to be sentenced June 15 in federal district court in Central Islip, N.Y., where he was found guilty in April 2005 of eight criminal counts of fraud, conspiracy to commit perjury and obstruction of justice.

But the sentencing has been delayed to Friday, July 21, the Berlin Daily Sun reported. It is at least the sixth time the sentencing has been delayed.

Gabayzadeh has been held in prison without bail since his conviction on charges related to swindling banks, financial institutions and investors of nearly $300 million.

He faces a maximum of 60 years in prison. – JEFF FEINGOLD