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7th Circ. Won't Undo Ex-CEO's $9M Fraud Conviction

Law360 (March 8, 2018, 9:46 PM EST) -- The Seventh Circuit Thursday upheld the conviction of the CEO of an Illinois company on charges he defrauded investors of $9 million with false promises he was on the verge of sealing government contracts for biological weapon detection technology.

In an unpublished opinion, a three-judge panel said it was unconvinced by Gregory Webb’s argument that because the investors who testified against him at trial were drawing on a “collective memory” of three years of his statements, the evidence was not specific enough to prove fraud, saying...
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