United States Supreme Court

Following defendant's conviction of a federal crime for submitting fraudulent mortgage loan applications to two banks, the district court's order that defendant pay the difference between the amount lent to him and the amount the banks received in selling the houses that had served as collateral for the loans pursuant to the Mandatory Victims Restitution Act of 1996 is affirmed, where: 1) under 18 U.S.C. section 3663A, which is used to calculate the amount of restitution, the phrase "any part of the property returned" refers to the property the banks lost, namely the money the banks lent to defendant, and not to the collateral the banks received, namely the houses; 2) a sentencing court must reduce the restitution amount by the amount of money the victim received in selling the collateral, not the value of the collateral when the victim received it; and 3) the rule of lenity does not apply here.

Appellate Information

• Decided 05/05/2014
• Published 05/05/2014

Judges

• BREYER

Court

• United States Supreme Court

Counsel