United States Second Circuit

Defendant's convictions on five counts of conspiracy to commit securities fraud and nine counts of securities fraud are affirmed, where: 1) the district court properly analyzed the alleged misstatements and omissions in the government's wiretap application under the analytical framework prescribed by the Supreme Court in Franks v. Delaware; 2) the alleged misstatements and omissions in the wiretap application did not require suppression, both because, contrary to the district court's conclusion, the government did not omit information about the SEC investigation of defendant with "reckless disregard for the truth," and because, as the district court correctly concluded, all of the alleged misstatements and omissions were not "material"; and 3) the jury instructions on the use of inside information satisfy the "knowing possession" standard that is the law of this Circuit.

Appellate Information

• Decided 06/24/2013
• Published 06/24/2013

Judges

• CABRANES

Court

• United States Second Circuit

Counsel