A federal appeals panel has vacated the 20-year sentences of three men who engaged in a conspiracy to defraud a hedge fund of $3 billion, ruling that the sentencing judge did not sufficiently consider all required factors, in particular, the "low risk" that any fund would have fallen for the defendants' outlandish lies.
July 26, 2013 at 12:00 AM
1 minute read
Editors' Note: This article has been updated to reflect a Correction.
A federal appeals panel has vacated the 20-year sentences of three men who engaged in a conspiracy to defraud a hedge fund of $3 billion, without success, ruling that the sentencing judge did not sufficiently consider all the factors required by law.
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