2nd Circ. Upholds 20-Year Prison Term For Bayou CFO

Law360, New York (February 18, 2009, 12:00 AM EST) -- A federal appeals court has upheld a 20-year prison sentence for the former chief financial officer of Bayou Management LLC for his role in a massive financial fraud that bilked investors out of more than $450 million.

The U.S. Court of Appeals for the Second Circuit on Tuesday ruled that the lower court’s sentencing for Daniel Marino, who could have been sentenced to 50 years, was not procedurally or substantively unreasonable.

Marino was sentenced in January 2008 after pleading guilty to conspiracy to commit investment adviser...
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