United States v. Holloway, No. 18-4083 (10th Cir. 2019)Annotate this Case
Robert Holloway was convicted by jury of four counts of wire fraud, and one count of submitting a false tax return. Holloway was the president and CEO of US Ventures, a company that traded in the futures market. Holloway told investors he had developed a special algorithm that allowed him to trade without losses. He claimed that because of the algorithm he “could trade the markets and make money whether the market went up or the market went down.” Holloway’s grandiose claims were false, and revealed to be a Ponzi scheme. The district court sentenced Holloway to 225 months’ imprisonment, after applying a six-level enhancement for crimes involving 250 or more victims under U.S.S.G. 2B1.1(b)(2)(C) (2014). After unsuccessfully challenging his conviction and sentence on direct appeal, Holloway filed a 28 U.S.C. 2255 motion, arguing: (1) a total breakdown of communication between Holloway and his trial counsel caused his trial counsel to perform ineffectively; (2) his trial counsel acted ineffectively by failing to argue that the evidence did not support the district court’s application of the six-level sentencing enhancement; and (3) the prosecution violated his due process rights by failing to turn over to the defense favorable information possessed by a prosecution witness contrary to Brady v. Maryland, 373 U.S. 83 (1963). The district court denied Holloway’s 2255 motion, but granted a certificate of appealability on all three issues. Finding no reversible error, the Tenth Circuit affirmed the district court judgment.