A Hamptons mayor charged with securities fraud for “cherry-picking” stocks did not engage in a “continuing” course of conduct, a federal judge has ruled in dismissing part of the government’s case against George M. Motz of Quoque.
“The fact that Motz is charged with repeatedly violating the statute over a period of time pursuant to the same scheme does not transform [the statute] into a ‘continuing offense’ for statute of limitations purposes,” Eastern District Judge Arthur D. Spatt held in United States v. Motz, 08-CR-598, ruling that a five-year statute of limitations bars the government from prosecuting Mr. Motz for trades executed before Aug. 27, 2003.
