11th Circ. Partially Vacates Ex-Frontier CEO's $6.8M Restitution

Law360, New York (September 11, 2013, 5:59 PM EDT) -- The Eleventh Circuit on Friday vacated part of a $6.8 million restitution order imposed on the imprisoned former CEO of Frontier Holdings Inc. for investment fraud, finding a lower court erred in awarding restitution to victims of an alleged co-conspirator in the scheme without enough evidentiary support.

A three-judge panel for the appeals court found the district court wrongly transferred $850,000 in restitution from Teana Reece — originally thought by the government to be a victim of the scheme by former Frontier head Jeffrey Wallace Edwards,...
To view the full article, register now.




Case Information

Case Title

USA v. Edwards et al

Case Number



Georgia Northern

Nature of Suit

Date Filed

May 6, 2009

Government Agencies

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.