9th Circ. Upholds Financial Adviser's $46M Fraud Conviction

Law360, New York (January 15, 2016, 6:55 PM EST) -- A Seattle investment manager's sentence for a $46 million fraud scheme will stand, the Ninth Circuit ruled Friday, despite his protest that a jury was nudged to convict him by unfair testimony that he was a fiduciary.

On Friday, the Ninth Circuit upheld Mark Spangler's conviction on 32 counts, saying that the jury was instructed carefully and was not told to consider fiduciary duty when it decided whether he was guilty. Spangler was convicted of funneling $46 million from fairly standard investment accounts into investments for two "risky" startups in which prosecutors said he had ownership stakes.

Spangler allegedly didn't inform investors...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!