WASHINGTON (AP) — The Supreme Court is making it tougher for the government to recover ill-gotten gains from people convicted of securities fraud.
The justices were unanimous Monday in ruling that such recoveries are subject to a five-year statute of limitations.
The ruling could hamstring prosecutors from collecting huge sums of money in cases where alleged fraud has been going on for decades before authorities file charges.
The high court overturned a lower court decision that ordered venture capitalist Charles Kokesh to pay the Securities and Exchange Commission $35 million from investor funds he used to pay himself and others at his New Mexico-based operation from 1995 to 2006.
- Posted June 09, 2017
- Tweet This | Share on Facebook
Justices limit recovery in securities fraud cases
headlines Macomb
headlines National
- New Legalese: You may have heard a deepfake, but what about ‘Twiqbal’?
- From Intake to Outcome: An in-house lawyer’s guide to matter management solutions
- 2 BigLaw firms in merger talks that could produce 1,600-lawyer firm with top 50 revenue
- Send in the paralegals
- Lawyer reprimanded after mistakenly emailing opposing counsel with plan to avoid judge’s call
- ‘I don’t play well’ judge who threatened to track down, jail misbehaving litigant gets tossed from case