RE Exec Can't Escape Ponzi Conviction In 10th Circ.

Law360, New York (April 15, 2013, 7:52 PM EDT) -- The Tenth Circuit on Monday affirmed the conviction of Phillip Lochmiller Sr. on conspiracy charges related to a $30 million real estate Ponzi scheme, rejecting his arguments that the case should be overturned due to prejudicial jury instructions and a lack of evidence.

A three-judge panel rejected Lochmiller's claims that testimony presented during his trial didn't show an explicit agreement between him and his two co-defendants, saying that testimony clearly showed that the three worked together to mislead more than 400 investors.

“These were not mere...
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