10th Circ. Upholds 9-Year Ponzi Scheme Sentence

Law360, New York (November 16, 2009, 1:11 PM EST) -- A Colorado woman who pled guilty in 2006 to helping run a $50 million Ponzi scheme cooked up by her husband has lost an appeal of her nine-year sentence.

A three-judge panel of the U.S. Court of Appeals for the 10th Circuit ruled Friday that the 108-month sentence handed down to Jannice McLain Schmidt, one of seven defendants in the scheme, was not a violation of her plea agreement and conformed with federal sentencing guidelines.

Schmidt pled guilty in the U.S. District Court for the District...
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