MORE THAN two years after he was jailed for civil contempt, financier Martin Armstrong still cannot find a sympathetic ear at the U.S. Court of Appeals for the Second Circuit.
Saying that Mr. Armstrong’s continued presence at the Metropolitan Correctional Center is due to his own maneuvering, the Second Circuit yesterday ruled that Southern District Judge Richard Owen has the discretion to keep Mr. Armstrong behind bars until he produces millions of dollars in assets needed to help repay defrauded investors.
