3rd Circ. Orders Resentencing In $136M Hwy Contract Fraud
Law360, New York (September 30, 2015, 8:33 PM EDT) -- In a precedential opinion, the Third Circuit on Wednesday vacated the sentences for two Pennsylvania businessmen who conspired to use a minority-owned front company to score $136 million in highway construction contracts, saying a lower court used the wrong formula to calculate losses resulting from their fraud.
With the ruling, a three-judge panel of the Third Circuit for the first time clarified how to calculate loss in cases involving disadvantaged business enterprise, or DBE, fraud by ruling that a Pennsylvania federal court improperly calculated that the loss that Joseph W. Nagle and Ernest G. Fink were responsible for during their yearslong...
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