A man who is currently imprisoned for using his skills as an attorney to run a Ponzi scheme has filed a motion to reduce his current sentence of 50 years by about 75%. The 75% reduction is based on federal formulas that allow sentence reductions for exemplary prisoner behavior and other merits while serving a sentence.
The former attorney believes he qualifies for such a drastic reduction, based on the fact that he helped federal authorities to track down about 30 of his associates who had been involved in his Ponzi scheme.
Will the reduction be approved?
Reportedly, the man had already filed for a reduction about two years ago. He has already served five years of his current sentence and is secluded in a prison in a confidential location.
Advocates for the accused man believe that because he has been setting such a good example of prisoner behavior, he has been an asset to federal officials, and because his offenses did not involve passion or violence, that he poses no threat to the public should he be released early.
Attorney Brett Schwartz Weighs In
Our Volusia County criminal defense attorney, who has helped many overcome criminal charges, including many similar white-collar criminal offenses, believes otherwise on this fact. While he may have his virtues, one cannot ignore that his actions negatively affected countless others’ lives. A negative public opinion can also impact the judge’s on the man’s petition, and possibly make it difficult to gain approval though not entirely impossible.
See more about Hager & Schwartz, P.A. here.