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Ponzi-scheme Defendants Lose on Most Issues

By Shari Allison

U.S. v. Lewis, 2010 WL 481282 (2/12/10) (Published) - The offense was a classic Ponzi scheme. The 10th found insufficient evidence of a few counts of wire and security fraud because the government cited no evidence that the person pitching the fake investments knew she was lying and no evidence the defendant caused her to lie. Interestingly, the 10th says that maybe there is such evidence in the record, but it was not going to bother to "scour without guidance the voluminous record for that evidence." There was, however, sufficient evidence for other counts, even though the victim did not testify. It was okay for the district court to admit 16 boxes of bank records through a declaration by a records custodian, pursuant to Fed. R. Evid. 902(11)...continue to full post

Full post as published by Tenth Circuit Blog on February 18, 2010 (boomark / email).