High Court Asked To Tweak Securities Fraud Sentencing

Law360, New York (February 14, 2014, 4:54 PM EST) -- The U.S. Supreme Court has been asked to consider altering the sentencing guidelines for securities fraud convictions so they are based on a more accurate calculation of victims' losses, according to a recent petition by a convicted stock promoter.

In his Feb. 3 petition for writ of certiorari, stock promoter Myron Gushlak asked the high court to overturn a Second Circuit opinion upholding a New York district court’s restitution order of about $17.5 million, which he claims is an overly harsh sentence based on an improper...
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