United States Sixth Circuit

Conviction of defendant for securities fraud, wire fraud, money laundering, and conspiracies to commit these crimes is affirmed in part, reversed in part and remanded where: 1) sufficient proof supported defendant's wire fraud, securities fraud, and conspiracy to commit wire and securities fraud convictions; 2) defendant's money laundering conviction is reversed as, to prove a violation of money laundering pursuant to section 1956(a)(1)(B)(i), it is not enough for the government to prove merely that a transaction had a concealing effect or that the transaction was structured to conceal the nature of illicit funds, but rather, what is required is that concealment be an animating purpose of the transaction; 3) defendant's conviction for conspiracy to commit money laundering is reversed; 4) defendant's remaining claims are rejected as meritless; and 5) defendant's sentence is vacated and remanded for resentencing.

Appellate Information

• Argued 10/08/2009
• Decided 07/28/2010
• Published 07/28/2010

Judges

• KETHLEDGE

Court

• United States Sixth Circuit

Counsel

• For Appellant:
  
• Martin G. Weinberg, Nina Goodman