United States Second Circuit

An order of restitution entered pursuant to the Mandatory Victims Restitution Act of 1996 against defendant, and to victims, for losses stemming from defendant's role in the manipulation of the price of a publicly traded security, is affirmed, where: 1) the district court had authority to enter the restitution order; 2) the restitution proceedings satisfied defendant's rights under the Due Process Clause of the Fifth Amendment; and 3) the district court's loss calculation was a reasonable estimate grounded in a sound basis for approximation of the full amount of identified victims' losses.

Appellate Information

• Decided 08/29/2013
• Published 08/29/2013

Judges

• SACK

Court

• United States Second Circuit

Counsel