SAN DIEGO – A New York financier who has pleaded guilty to laundering bribe money for former Rep. Randy “Duke” Cunningham will not be sentenced until next year.

At a brief hearing Monday in federal court the lawyer for Thomas Kontogiannis said his client is still recovering from open heart surgery two weeks ago. Lawyer Gregory O'Connell said that Kontogiannis' doctors say he will be unable to travel for some time.

U.S. District Judge Larry Burns set a Jan. 15 hearing for an update on Kontogiannis' health and to possibly set a new date for his sentencing.

Kontogiannis is in the custody of federal marshals at an out-patient facility in New York after Burns revoked the conditions of his bond release two weeks ago.

The judge was concerned that Kontogiannis, with a new worth of $300 million and close ties to his native Greece, posed a flight risk, and canceled his bond and oprdered him placed under arrest. He faces a maximum of 10 years in prison after admitting he laundered $1.1 million in bribes for Cunningham. The former congressman is serving an eight-year federal sentence after pleading guilty to conspiracy and tax evasion for taking millions in cash and gifts from defense contractors.

– Greg Moran