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,...
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