7th Circ. Affirms 20-Year Sentence For Fraudster Knox

Law360, New York (November 11, 2010, 4:10 PM EST) -- A federal appeals court has upheld a 20-year prison sentence for Gary Knox, who was involved in a flipping scheme in the Illinois real estate market, defrauding local financial institutions of $7 million.

A three-judge panel in the U.S. Court of Appeals for the Seventh Circuit on Wednesday ruled that the district court was correct to apply several sentencing enhancements to Knox’s offense level.

Knox had been charged with, and pled guilty to, multiple counts of bank fraud, wire fraud, mail fraud, and money laundering. He...
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