restitution
Minnesota For-Profit Colleges Ordered to Refund Student Money
The Minnesota Supreme Court on Wednesday upheld orders requiring two for-profit colleges to refund tuition money to hundreds of former students defrauded by false assurances about a criminal justice degree.
Read moreSeventh Circuit Guts FTC’s Powers — Setting up Supreme Court Showdown
Breaking with eight other circuits, the Seventh Circuit ruled Wednesday that the Federal Trade Commission lacks authority to seek restitution from companies that defraud consumers, and vacated a $5 million judgment against a credit-monitoring company.
Read moreFormer Precious Metals Trader Fights Contempt Order at 11th Circuit
An attorney for a Florida businessman who served as CEO of a company that defrauded customers in a precious metals investment scheme asked an 11th Circuit panel Tuesday to overturn an order finding him in contempt for not paying restitution.
Read more$4.4 Million Seized From Houston Charter School Fraudsters
The husband and wife founders of a Houston charter school amassed a fortune preying on their students’ parents. The duo pocketed fees they charged students to go on field trips and to wear street clothes on Fridays instead of school uniforms.
Read moreActivists Blast Florida Bill Limiting Felon Voting Rights
On a cloudy Friday morning, a small group of activists met in the parking lot of a Florida state senator’s office grasping glossy placards and wearing buttons supporting a recent constitutional amendment restoring the voting rights of felons.
Read moreCFTC Contempt
Holding the CEO of Southern Trust Securities Holding Corp. in contempt, a federal judge said Robert Escobio has 10 days to pay the Commodity Futures Trading Commission $350,000, plus monthly installments of the $1.5 million in restitution he owes customers, or be jailed.
Read moreRejected Restitution Case Provokes High Court Dissents
Three justices balked Monday at the Supreme Court’s refusal to take up a case involving whether a judgment of restitution should be decided by a jury.
Read moreCommodities Fraud
The Commodity Futures Trading Commission permanently barred Pishon Holding LLC and Sung Hong aka Lawrence Hong, a recidivist felon, and Hong’s wife from the commodities business, and ordered them to pay $1.3 million in restitution.
Read moreDisbarred Attorney
A California man who was disbarred in 2015 was sentenced Friday to 18 months in federal prison for defrauding clients and investors, and ordered to pay $1.5 million in restitution.
Read more$9 Million Disgorgement
A federal judge granted the SEC’s request for $9.2 million in disgorgement and fines from Lawrence Penn III, for grand larceny and falsifying records in the private equity fund he managed, and for his “complete lack of remorse” despite his guilty pleas.
Read moreSupreme Court Sets Limits for Mandatory Restitution
The Supreme Court ruled unanimously Tuesday that reimbursement of costs and expenses under the Mandatory Victims Restitution Act only applies to government investigations and criminal cases, not private investigations or civil proceedings.
Read moreJudge Fines Boy, 15, $36.6 Million for Starting Oregon Wildfire
The 15-year-old boy who admitted sparking a massive wildfire in the Columbia River Gorge by lobbing firecrackers into a ravine won’t serve any jail time, but he will have to pay a $36.6 million restitution bill that his lawyer called unconstitutional and “absurd.”
Read moreFeds Want ‘Wolf of Wall Street’ to Pay Up
As the “Wolf of Wall Street” was in Lithuania giving a motivational speech Wednesday, his lawyer was in a Brooklyn courtroom battling government prosecutors who want to garnish his finances for restitution and other penalties he owes.
Read moreLawyer Loses
The Ninth Circuit ruled against Newport Beach attorney Stephen Young Kang, who challenged the sealing of his multimillion-dollar restitution order for defrauding clients, as his plea agreement bars such an appeal.
Read moreSCOTUS Will Address Restitution Under Victims Act
The Supreme Court will review whether reimbursement of costs of investigations and expenses incurred under the Mandatory Victims Restitution Act that were “neither required nor requested” by the government may be included in restitution.
Read moreCompensation Finally Comes for Bernie Madoff Victims
Victims of Bernie Madoff are finally eking out restitution nearly nine years after the hedge fund maven’s $64.8 billion Ponzi scheme crumbled, prosecutors said Thursday.
Read moreJustices Reject Child-Porn Restitution Challenge
A man ordered to pay restitution after he was caught with hundreds of child-pornography files on his computer suffered defeat Tuesday at the U.S. Supreme Court.
Read moreFraudster Gets 8 Years
The former owner of Amerifund Capital Finance was sentenced Thursday to eight years in federal prison and $20 million in restitution for a $100 million stock-loan fraud scheme that bilked victims all over the world.
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