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
- New leadership team takes helm at State Bar
- Four weeks before Election Day, mail ballot returns are up 30% over same point in 2022
- Belleville woman arraigned in connection with alleged arson, felonious assault
- Warren man pleads No Contest to Felonious Assault and dog stabbing
- Woman sentenced for mortgage fraud, filing a false $374,000 tax refund return
headlines National
- Melissa Hart, the chair of the ABA Legal Ed council, dies
- Judge suspended after indictment over alleged perjury
- Bill Withers’ music publisher files copyright suit over Olivia Dean’s ‘I’ve Seen It’
- Judge reinstates US attorney in Washington fired by Trump
- Interim law dean of University of Florida named to permanent role
- Clio acquires Learned Hand, an AI company for courts, judges
