U.S. Court of Appeals for the 9th Circuit
Jun. 10, 2010
9th Circuit: Errors Invalidate Penalties in Fraud Cases
Four San Diego stockbrokers convicted in 2006 of bilking customers out of $5 million in a pump-and-dump scheme got what will likely be good news Tuesday from the federal appeals court.
Daily Journal Staff Writer
Four San Diego stockbrokers convicted in 2006 of bilking customers out of $5 million in a pump-and-dump scheme got what will likely be good news Tuesday from the 9th U.S. Circuit Court of Appeals.
Their convictions stand, but their sentences of 32 to 50 months behind bars and their restitution orders ranging from $300,000 to $2.7 million must be recalculated, a unanimous circuit panel r...
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