7th Circ. Keeps 10-Year Term For $28M Fraudster

Law360, New York (September 21, 2011, 6:26 PM EDT) -- The Seventh Circuit on Wednesday upheld a 10-year sentence for a man who admitted to raising $28 million from at least 60 investors for a fake printer resale business, rejecting his claim that the court miscalculated the number of his victims. 

Matthew Scott, who was sentenced September 2010 in Illinois federal court, was also ordered to pay $4.9 million in restitution for conducting a nine-year scheme of gathering investments for a secondhand printer resale business he never ran.

Though Scott stated in his January 2010 plea...
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