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...
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Case Information

Case Title

United States of America v. Peters

Case Number



Appellate - 2nd Circuit

Nature of Suit

Date Filed

February 16, 2011

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