A Counterintuitive Sentence Reduction For Ponzi Schemers

Law360, New York (November 5, 2014, 10:25 AM EST) -- Ponzi schemes are simplistic in their illegality. Promise investors a large return on investment and deliver by paying earlier investors with the investments by later investors. Round and round it goes until law enforcement gets wise to the scheme and shuts it down.

Sentences for Ponzi schemers convicted in federal court are governed by § 2B1.1 of the U.S. sentencing guidelines. The driver of § 2B1.1 is loss amount, which for Ponzi schemers can be a daunting number. But the U.S. Court of Appeals for the Sixth Circuit in United States v. Snelling took a slice from the loss amount by...

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