Convicted Ponzi Schemer Appeals 23-Year Sentence

Law360, New York (September 24, 2010, 12:47 PM EDT) -- Frank Castaldi, convicted of perpetrating a $77 million Ponzi scheme, has appealed his 23-year prison sentence — the maximum sentence available and a term nearly double the length sought by prosecutors.

Castaldi asked the U.S. Court of Appeals for the Seventh Circuit on Wednesday to overturn the sentence he received Sept. 15 in the U.S. District Court for the District of Northern Illinois.

Castaldi alerted authorities in 2008 that he had been operating the scam for more than two decades, bilking hundreds of investors of their...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

USA v. Peterson


Case Number

1:09-cr-00059

Court

New Hampshire

Nature of Suit

Judge

Joseph N. Laplante

Date Filed

March 18, 2009

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.