United States Second Circuit

Sentencing of defendant upon a plea conviction for his failure to report a Ponzi scheme, 18 U.S.C. section 4, is affirmed because the district court correctly ordered restitution in the amount of $60 million pursuant to the Mandatory Victims Restitution Act, 18 U.S.C. section 3663A, as the court properly concluded that defendant’s misprision of the scheme was both the direct and proximate cause of the victim investors' losses.

Appellate Information

• Decided 08/18/2011
• Published 08/18/2011

Judges

• WINTER

Court

• United States Second Circuit

Counsel

• For Appellant:
  
• EUGENE J. RICCIO, MARGERY B. FEINZIG