Appeals Court Revises Restitution Ruling

Law360, New York (August 30, 2006, 12:00 AM EDT) -- A brokerage operator who was convicted on two counts of securities law violations in the late 1990s may not have to pay his $1.2 million restitution fee, a federal appeals court has ruled.

A judge in the Court of Appeals for the Seventh Circuit ruled on Wednesday that though the two securities law violations against James Firth Jr. were affirmed, the court would reconsider his fee.

Frith was the sole shareholder of Chicago Partnership Board, a broker-dealer firm that matched buyers and sellers of limited partnership...
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