5th Circ. Upholds Ponzi Schemer's 30-Year Sentence

Law360, New York (September 9, 2011, 9:40 PM EDT) -- The Fifth Circuit on Friday upheld a 30-year sentence imposed on a Louisiana man who pled guilty to robbing investors in a $20 million Ponzi scheme, finding prosecutors had not broken a plea agreement that called for a shorter sentence.

Matthew Pizzolato's plea agreement recommended a sentencing range of 151 to 188 months, but U.S. District Judge Lance Africk disregarded that figure and imposed a 30-year sentence in July 2010. The defendant appealed to the Fifth Circuit in August 2010, saying the government had breached the...
To view the full article, register now.