4th Circ. Affirms Sentence In $100M Securities Fraud

Law360, New York (January 23, 2013, 11:13 PM ET) -- The Fourth Circuit on Wednesday affirmed a lower court’s sentence that A&O Resource Management Ltd. co-founder Christian Allmendinger spend 45 years in prison and pay $102 million in restitution for his role in an insurance investment scheme.

A three-judge panel upheld a Virginia federal judge’s 2011 orders, rebuffing Allmendinger’s argument that the lower court had handed out a procedurally unreasonable sentence based on an incorrect calculation of losses that his scheme had cost or meant to cause.

The lower court had found that Allmendinger had been the...
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