We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Miami Exec Gets 12.5 Years For $40M Investment Scam

Law360, Miami (September 18, 2013, 6:17 PM EDT) -- A Florida federal judge handed down a 150-month sentence Wednesday to Miami businessman Claudio Osorio, who earlier this year pled guilty to conning investors of bankrupt InnoVida Holdings LLC out of $40 million, and ordered him to pay about $20 million in restitution.

U.S. District Judge William Dimitrouleas said he was prepared to give a harsher punishment, as the evidence against Osorio — InnoVida's president, owner and majority shareholder — was overwhelming and he did not see the degree of cooperation mentioned in a plea agreement, but he deferred to Assistant U.S. Attorney Lois Foster-Steers' recommendation of a 10 percent reduction...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Florida Southern

Nature of Suit

Date Filed

December 5, 2012

Companies

Government Agencies