6th Circ. Nixes $12M Ponzi Sentences Due To Trial Delay

Law360, Los Angeles (April 12, 2013, 5:59 PM EDT) -- The Sixth Circuit on Friday overturned a lower court's prison sentences of two men convicted in a $12 million Ponzi scheme, ruling that the government violated speedy trial laws by deliberately delaying one man's extradition from Switzerland in a misguided effort to build its case.

Instead of immediately pursing extradition of Michael Wayne Heshelman — who was living in Switzerland when the government filed a 53-count indictment against him in February 2006 — prosecutors waited for him to voluntarily return to the U.S. three years later....
To view the full article, register now.

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.