Kaufman was scheduled to report to prison on Nov. 30.

"The ultimate question is whether the Court thinks that the issues on appeal are sufficiently meritorious that the question whether Kaufman will obtain a reversal or new trial on both counts is close or could go either way or whether instead it is doubtful," Judge Kaplan wrote in his memo and order last week. "I am inclined to think it is doubtful that Kaufman will succeed on either count, let alone both. Nevertheless, it is not impossible. Kaufman is not a flight risk or, pending appeal, a danger to the community. Most of the questions he proposes to raise are not frivolous. So I will give him the benefit of the doubt."

Before Judge Kaplan issued his ruling, however, federal prosecutors wrote none of Kaufman issues raises a substantial question of fact or law, let alone one that is likely to result in reversal, a new trial, a sentence that does not include a term of imprisonment or a reduction in the sentence.

"Moreover, given the defendant's egregious conduct and his lack of remorse, the court was wholly justified in imposing a significant term of imprisonment," prosecutors wrote in court documents.

Kaufman's lawyer, Nelson A. Boxer of New York City, based Kaufman's appeal on what Boxer called six "substantial" issues such as whether Judge Kaplan abused his discretion to exclude proposed testimony from an expert, whether Kaufman's 46-month sentence was "procedurally and substantively reasonable," and whether the evidence was sufficient to prove that the CBS Radio trip fell outside of the safe harbor provision that protects people from liability or penalty provided certain conditions are met.

Boxer contends that if the appeal — which is expected to take months, if not longer — is decided in Kaufman's favor, it could result in a new trial, a reversal of the two bribery convictions or a reduced sentence. Kaufman's appeal (Case Number 21-2589) will be heard by the Second Circuit Court of Appeals in New York City.

During his trial, prosecutors showed that Kaufman, from 2010 to 2015, directed about $850,000 in credit union funds annually to media vendor CBS Radio for advertising. In exchange, Kaufman received luxury trips to Paris and Hawaii and other excursions worth thousands of dollars for him and his wife. The former CEO did not disclose to Melrose's board of directors that he accepted, and in one case, demanded first-class vacations from CBS Radio. In a previous court ruling, Judge Kaplan found that Kaufman's vacations at CBS Radio's expense were outside the scope of the safe harbor provision and that Melrose's policy prohibited its employees from accepting anything worth over $100 from Melrose's vendors.

Boxer argued in court documents, however, that while Melrose's policies were relevant to assessing Kaufman's intent, so was the fact that he participated — along with numerous executives from other clients of CBS Radio, and executives from CBS Radio itself — in trips organized and paid for by CBS Radio through its indisputably bona fide sales incentive program.

"The evidence concerning the CBS Radio trips was thus 'at least as consistent with innocence as with guilt,' and presents a substantial question on appeal," Boxer wrote.

The bribery scheme began in 2010 after Kaufman finalized his divorce and was looking for a new home. Tony Georgiton, a Melrose member who owned a taxi medallion brokerage company and other businesses, offered to buy the former CEO a $630,000 luxury home in a gated community in Jericho, N.Y. Though Kaufman paid expenses such as condominium association fees and taxes, Georgiton allowed Kaufman to live in the Jericho home rent-free for more than two years.

While Kaufman lived in the home, he personally approved for Georgiton's companies more than $182 million in loans from the credit union with favorable 50-year amortization periods. The loans also provided total cash outs of $9.8 million, according to court documents. The Georgiton loans violated Melrose's loan policies and were against the advice of the credit union's chief loan officer and directives from the NCUA.

The $1.1 billion Melrose, founded by Kaufman's family, was liquidated in September 2018 after posting more than $745 million in taxi medallion loan losses. Many drivers who took out Melrose loans could not repay them as the value of their taxi medallions plunged because of competition from ride-sharing companies.

The $8.7 billion Teachers Federal Credit Union in Hauppauge, N.Y., acquired Melrose's estimated $412 million consumer, residential and commercial loan portfolio. The portfolio purchase did not include Melrose's troubled taxi medallion loans.

Read the full appeal notice from Kaufman's attorney here.