New Jersey Developer Tied to Menendez Scandal Sentenced

The New Jersey developer tied to the scandal that brought down former Sen. Bob Menendez was sentenced for his role in the bribery and corruption scheme.

A judge sentenced Edgewater’s Fred Daibes to seven years in prison, the New York Times reported, and levied a $1.75 million fine. His sentencing on Wednesday was the first in a series of rulings expected to end in a sentence for Menendez.

Before his sentencing, Daibes broke down before the court and asked for mercy for his son. His sentence is expected to begin in April.

“I just wish people would think about the impact on family members before they engage in criminal activity,” the judge said. “There’s a dark edge to what you’ve done.”

Federal prosecutors accused Menendez of taking bribes from Daibes in return for arranging an investment from the Qatari government. Menendez allegedly introduced Daibes to a member of the country’s royal family in June 2021, who then made a multimillion dollar investment in one of Daibes’ properties; gold bars found at Menendez’s home were allegedly part of the payments.

While the investment was being negotiated, Menendez allegedly went to bat publicly for the Qatari government.

Prosecutors were seeking a nine-year sentence for Daibes. Meanwhile, prosecutors are seeking a 15-year sentence for Menendez, which would put him away until he’s in his mid-80s.

Another co-defendent, Egyptian American businessman Wael Hana — who prosecutors put in the middle of a plan to funnel hundreds of thousands of dollars in bribes to Menendez — was sentenced to more than eight years in prison and fined $1.3 million.

In September, Daibes pleaded guilty to a separate federal charge of bank fraud, for which Daibes allegedly bribed Menendez for favorable treatment. He was scheduled to be sentenced in that case last week, but the date was postponed to March, according to NorthJersey.com.

— Holden Walter-Warner