$140M Judgment Ordered For Convicted Meridian Founder

Law360, New York (April 9, 2012, 4:37 PM EDT) -- A Washington federal judge on Friday ordered $140 million in restitution against the bankrupt founder of defunct investment company Meridian Mortgage Investors, who's been sentenced to 18 years in prison for stealing $100 million in an investment fraud scheme.

Frederick Darren Berg had asked a judge for leniency in February, saying the scheme was the result of desperation and not intentional. U.S. District Judge Richard A. Jones sentenced him to 216 months in prison, and Friday's amended judgment adds the restitution portion of the sentence....
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