United States Seventh Circuit

In a prosecution of defendant for multiple counts of bank fraud, mail fraud, and money laundering, in connection with an extensive real estate scheme involving grossly inflated property appraisals and false loan applications, district court's application of several enhancements to defendant's offense level is affirmed where: 1) it is clear that defendant's scheme qualifies as sophisticated for purposes of section 2B1.1; 2) district court's application of a two-level enhancement based on the number of victims was proper as it is abundantly clear that at least one person in every transaction was a victim and that the number of transactions exceeds ten; 3) district court did not err in finding that it was more likely than not that defendant's gross receipts totaled more than $1 million; 4) district court's calculation of the number of participants in the scheme and its determination that defendant was an organizer were both proper; and 5) defendant has waived his right to challenge the loss calculation as he initially objected but later withdrew the objection.

Appellate Information

• Argued 10/09/2009
• Decided 11/10/2010
• Published 11/10/2010

Judges

• WILLIAMS

Court

• United States Seventh Circuit

Counsel