4th Circ. Nixes Fund Manager's Conviction For $35M Scam

Law360, New York (December 11, 2013, 6:11 PM EST) -- The Fourth Circuit on Wednesday threw out part of the conviction of a former Black Diamond Capital Solutions LLC hedge fund manager for his role in running a $35 million Ponzi scheme, sending his case back to the district court to recalculate his 50-year prison sentence.

A divided Fourth Circuit threw out Keith Simmons' conviction on two counts of money laundering, finding those counts created a "merger problem" by conflating money laundering with the essential elements of just running the Ponzi scheme — an issue that...
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Case Information

Case Title

US v. Keith Simmons


Case Number

12-4469

Court

Appellate - 4th Circuit

Nature of Suit

Date Filed

June 20, 2012

Government Agencies

UK Financial Services

UK Financial Services

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