January 22, 2011 (Press-News.org) White collar crime can take many different forms. Whether it is insider trading, failing to report income taxes or other types of fraud, many of these crimes wind up in federal court. Many of these cases can become high-profile, especially if a significant amount of money was involved. Those who are convicted of a white collar crime could be facing time in a federal prison.
Exactly how much time that one of these white collar crimes carries with a conviction has become a major issue for those awaiting sentencing. Federal judges use the Federal Sentencing Guidelines when deciding how long an offender will be sent to prison. These guidelines are merely there to aid the judge in determining the appropriate sentence, and are no longer mandatory.
The adherence to the suggestions by the guidelines varies from judge to judge, and seemingly also from crime to crime. The guidelines use a point system when coming up with the amount of prison time for the offender. For example, the case of hedge fund manager Joseph Contorinis has made the news recently for the sentence he received. Contorinis received information about several companies that were merging or being sold. He used this information to acquire or sell shares for the fund he was managing.
The court calculated the gains from the crimes as over $7 million, which left Contorinis facing significant time in prison. Investigators also stated that his trading helped the fund avoid an additional $6 million in losses, which could have added to even more time to his sentence.
Contorinis contended that the guidelines did not account for the significant losses incurred as a result of the trades. Others charged with crimes connected with these sales and mergers had significantly shorter sentences, ranging from three months in prison to three years of probation. When Contorinis was sentenced, he received six years in prison.
With the disparities in sentencing being the norm in white collar criminal cases, it is more crucial for those charged with crimes to understand how the courts will sentence them if convicted. An experienced criminal defense attorney will help you protect yourself during the trial and sentencing phase, if necessary.
Article provided by Williams & Wiseman, P.A.
Visit us at www.floridadefenselaw.com
White Collar Crimes Carry a Wide Range of Sentences
With the disparities in sentencing being the norm in white collar criminal cases, it is more crucial for those charged with crimes to understand how the courts will sentence them if convicted.
2011-01-22
ELSE PRESS RELEASES FROM THIS DATE:
New Federal Helmet Law Proposals May Affect Oklahomans
2011-01-22
Distracted driving has made traffic safety a prominent national issue with those driving commercial trucks and buses. With new regulations focused on the largest and most dangerous vehicles on the road, the emphasis now shifts to protecting the most vulnerable drivers: motorcyclists. Last November, the National Transportation Safety Board (NTSB) proposed a new regulation mandating that everyone riding a motorcycle in the United States wear a helmet.
Historically, helmet law proposals have always been controversial. Proponents commonly refer to accident statistics showing ...
Prosecutor Misuse of RICO Laws Should End
2011-01-22
There's a festering problem in Florida's criminal justice system: some state prosecutors are misusing our state's racketeering laws to wring guilty pleas out of innocent people and petty criminals afraid of spending decades in prison for crimes they didn't commit.
Abuse is rampant of Florida's version of the federal government's Racketeer Influenced and Corrupt Organizations Act; known more commonly by its acronym, RICO.
The federal version was created 40 years ago to fight the Mafia and the businesses and labor unions it controlled. Today in Jacksonville and elsewhere ...
High-Level Drunken Drivers Facing Stiffer Penalties
2011-01-22
In a new campaign, the National Transportation Safety Board (NTSB) is cracking down on drunk drivers who pose a higher risk. These drivers fall into one of two categories:
- Those with a blood alcohol concentration (BAC) of .15 percent or more
- Those who have a prior DUI/DWI arrest in the past 10 years
NTSB data estimates that up to 70 percent of all alcohol-related car accident fatalities involved these types of drivers. The National Highway Traffic Safety Administration (NHTSA) provides more insight: roughly 8,000 of the nearly 11,000 road deaths last year were ...
Federal Safety Agency Proposes Back-up Camera Requirement for Passenger Vehicles
2011-01-22
Accidents that kill or injure very young children are particularly troubling. Children who are not yet school age are highly vulnerable to all sorts of dangers -- including being run over by a car that is backing up.
The federal data on the prevalence of back-up car accidents is eye-opening. According to estimates by the National Highway Traffic Safety Administration (NHTSA), 228 people are killed in car accidents each year and 17,000 people are injured. The agency's data indicates that almost half of these deaths -- about 100 -- are of children under 5 years old. Children ...
South Carolina Nursing Home Abuse Update: Bed Sores Can Be Deadly
2011-01-22
Elderly and infirm residents are made more vulnerable if the facilities they inhabit are made unsafe by nursing home negligence. Medication errors, abusive employees and inadequate security can all cause immediate injuries and other harm to people who most deserve society's protection.
In some cases, the harm takes longer to develop. Nursing home malnutrition may take months to detect and respond to if staff fails to heed subtle signs of inadequate food intake or physical decline. Other evidence of nursing home mistreatment includes bed sores, which can develop as a ...
Afford Your Divorce - Quick, Easy and Painless
2011-01-22
Everyone has read stories about a divorce that is spiraling out of control, costing hundreds of thousands of dollars as the couple fights over every single thing. Custody of the children, spousal support and property division can be extremely expensive and time-consuming if the parties are focused on going to court. Parties who can resolve these issues on their own can remove most of the stress from the process while saving those thousands of dollars.
Many divorces involve issues which need attention. Perhaps the most difficult aspect of any divorce is the child custody ...
Seeing Red in South Florida: Cameras at Intersections Are No Substitute for Fair Hearings
2011-01-22
In Florida, red light cameras have been used since 2008 to enforce traffic laws at intersections 24 hours a day, seven days a week.
In practice, red light cameras create difficult legal issues and unfair outcomes; for example, notices of infraction are mailed to the registered owner's vehicle whether or not the owner was driving, meaning that the registered owner is held responsible for the ticket regardless of guilt--and if the registered owner fails to pay the ticket within 30 days from when it was mailed, the notice becomes a bonafide traffic citation with license ...
Workers' Compensation: Exclusive Remedy for Employees?
2011-01-22
Certain employees can face the potential for serious injury every time they go into work. At a construction site, many different occupations are present, and any mistake can have severe consequences. When an injury happens, employees may not know what remedies are available to them, or how to begin the process of recovering compensation for their injuries.
New Jersey Workers' Compensation System
For those injured on the job in New Jersey, the legislature has set up the workers' compensation system to provide a way for employees to recover compensation quickly for ...
Updates in 2011 to Florida Child Support Guidelines
2011-01-22
At the close of Florida's 2010 legislative session, a comprehensive bill aimed at revamping the state's child support and alimony schemes was passed. The new changes did not go into effect immediately, however. Instead, target dates were set, determining when each set of updates to the family law code would take effect. The alimony provisions and certain aspects of the child support statute have already been tested to an extent: they went into effect in July and October of 2010, respectively. However, several significant changes to Florida's child support guidelines only ...
Saving Lives With Electronic Stability Control Systems
2011-01-22
While safety features like airbags and anti-lock brakes come standard on many vehicles, one of the most beneficial safety systems is still lacking on some vehicles.
Electronic stability control systems (ESC) help drivers maintain control of the vehicle. According to the Insurance Institute for Highway Safety, ESC systems use sensors to detect the speed and direction of the wheels. During a turn, if the car drifts in a direction different from the orientation of the wheels, the system can reduce acceleration and brake individual wheels to help the driver regain control ...
LAST 30 PRESS RELEASES:
Scientists unlock secrets behind flowering of the king of fruits
Texas A&M researchers illuminate the mysteries of icy ocean worlds
Prosthetic material could help reduce infections from intravenous catheters
Can the heart heal itself? New study says it can
Microscopic discovery in cancer cells could have a big impact
Rice researchers take ‘significant leap forward’ with quantum simulation of molecular electron transfer
Breakthrough new material brings affordable, sustainable future within grasp
How everyday activities inside your home can generate energy
Inequality weakens local governance and public satisfaction, study finds
Uncovering key molecular factors behind malaria’s deadliest strain
UC Davis researchers help decode the cause of aggressive breast cancer in women of color
Researchers discovered replication hubs for human norovirus
SNU researchers develop the world’s most sensitive flexible strain sensor
Tiny, wireless antennas use light to monitor cellular communication
Neutrality has played a pivotal, but under-examined, role in international relations, new research shows
Study reveals right whales live 130 years — or more
Researchers reveal how human eyelashes promote water drainage
Pollinators most vulnerable to rising global temperatures are flies, study shows
DFG to fund eight new research units
Modern AI systems have achieved Turing's vision, but not exactly how he hoped
Quantum walk computing unlocks new potential in quantum science and technology
Construction materials and household items are a part of a long-term carbon sink called the “technosphere”
First demonstration of quantum teleportation over busy Internet cables
Disparities and gaps in breast cancer screening for women ages 40 to 49
US tobacco 21 policies and potential mortality reductions by state
AI-driven approach reveals hidden hazards of chemical mixtures in rivers
Older age linked to increased complications after breast reconstruction
ESA and NASA satellites deliver first joint picture of Greenland Ice Sheet melting
Early detection model for pancreatic necrosis improves patient outcomes
Poor vascular health accelerates brain ageing
[Press-News.org] White Collar Crimes Carry a Wide Range of SentencesWith the disparities in sentencing being the norm in white collar criminal cases, it is more crucial for those charged with crimes to understand how the courts will sentence them if convicted.