2nd Circ. OKs $35M Judgments, Jail Time In Chase Fraud Case

Law360, New York (October 9, 2013, 3:50 PM EDT) -- The Second Circuit on Wednesday backed $35 million in judgments and a nine-year prison sentence against a man who was accused of defrauding Chase Manhattan Bank more than a decade ago, finding he was liable for the proceeds reaped from the loans he fraudulently obtained for his companies.

The lower court properly held Frank Peters responsible for proceeds netted from loans fraudulently obtained from Chase, a two-judge panel said Wednesday in a precedential opinion. The court struck down Peters' arguments that the $23 million forfeiture order...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

United States of America v. Peters


Case Number

11-610

Court

Appellate - 2nd Circuit

Nature of Suit

Date Filed

February 16, 2011

Law Firms

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.