Milton Balkany, Brooklyn Rabbi, Convicted of Extortion

Milton Balkany, a Rabbi in Midwood, was convicted Wednesday for extortion, blackmail, wire fraud and making false statements at the U.S. District Court in Manhattan, Jewish Telegraphic Agency reports. Balkany is a day school director at Bais Yaakov. He was guilty of attempting to extort a $4 million donation from billionaire Steven Cohen’s SAC Capital by using damaging information he obtained as a spiritual adviser from an inmate in a federal prison. Balkany was also active in raising money for Republican lawmakers and lobbying in Washington. He is on house arrest and faces up to 20 years in prison.