United States v. Nelson, No. 13-2648 (7th Cir. 2014)
Annotate this CaseNelson entered into a plea agreement to charges of mail fraud, 18 U.S.C. 1341, admitting that he masterminded a Ponzi scheme in which he falsely promised investors that he would put their money into real estate and promptly earn a return, as high as 45%. According to the presentence investigation report, Nelson’s investors lost approximately $2.597 million. Because that figure exceeds $2.5 million, the report recommended an 18-level increase to Nelson’s offense level, resulting in a guidelines imprisonment range of 63 to 78 months, U.S.S.G. 2B1.1(b)(1)(J) Nelson, was sentenced to 66 months’ imprisonment, and ordered to pay about $2.6 million in restitution. Although the number of victims exceeds 30, more than $1 million of the $2.6 million total loss found by the district court was attributed to just three of them. The Seventh Circuit affirmed. The district court’s loss calculation had adequate evidentiary support and was well within the realm of permissible computations.
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