On January 9, 2015 the United States Sentencing Commission published the proposed federal criminal Sentencing Guideline Amendments, including revisions to the sentencing guideline governing fraud. The proposed amendments are summarized here:
Guideline §2B1.1 governing fraud offenses may be amended by clarifying the definition of “intended loss,” which contributes to the degree of punishment, and the enhancement for the use of sophisticated means in a fraud offense. The proposed amendment also revises the guideline to better consider the degree of harm to victims, rather than just the number of victims, and includes a modified, simpler approach to “fraud on the market” offenses which involve manipulation of the value of stocks.
The proposed revisions to the fraud guidelines come after a multi-year study, and a September 2013 symposium at John Jay College of Criminal Justice in New York. The Sentencing Commission recognized that there are some problem areas in the fraud guidelines where changes may be necessary.
The Commission also proposes to clarify the provisions allowing for sentence reductions for offenders with mitigating roles in the offense and the provisions governing jointly undertaken criminal activity, as well as to adjust the tables based on amounts of money for inflation in an attempt to keep the guidelines current and follow the approach generally mandated by statute for most civil monetary penalties.
For individuals who are facing federal criminal prosecution or sentencing in the United States District Court for the District of New Jersey, or state criminal prosecution or sentencing in the criminal courts of New Jersey, or who are appealing their criminal matters before the United States Court of Appeals for the Third Circuit, the New Jersey Appellate Division, or the Supreme Court of New Jersey, it is critical to have an experienced federal and state New Jersey criminal defense attorney represent you. The experienced criminal defense lawyers of Schwartz & Posnock appear in all Federal Courts of New Jersey, as well as the State and Municipal criminal courts in New Jersey, and have convenient locations in Monmouth County (Eatontown), Essex County (Livingston), Union County (Linden), and Middlesex County (East Brunswick). Call us at 732-544-1460 or email us at info@schwartzposnock.com to schedule an appointment.