U.S. v. Loffredi

Federal 7th Circuit Court
Criminal Court
Case Number: 
No. 12-1124
Decision Date: 
June 18, 2013
Federal District: 
N.D. Ill., E. Div.
Dist. Ct. did not err in sentencing defendant to 78-month term of incarceration on mail fraud charge based, in part, on two-level enhancement under section 2B1.1(A)(i) of USSG for offense involving 10 or more victims. Instant scheme concerned 14 defrauded customers of defendant’s securities brokerage firm, and Ct. rejected defendant’s claim that there was only one defrauded victim where defendant’s broker-dealer parent firm eventually repaid losses of said customers.