United States v. Ryan, No. 11-4479 (2d Cir. 2015)
Annotate this CaseDefendant plead guilty to one count of securities fraud. The district court sentenced defendant principally to a term of imprisonment of 121 months, which it incorporated into an amended judgment, from which defendant has not filed a second notice of appeal. The court concluded that the district court did not err, much less clearly err, in determining that defendant's offense involved 50 or more victims. In this case, the district court properly counted each married couple jointly holding investments as two individual “victims” within the meaning of that term as used in U.S.S.G. 2B1.1(b)(2). The court further found no error in the district court's rejection of defendant's claim that there were only 31 or 32 victims on the ground that the list defendant submitted with his sentencing memorandum was based on his personal recollection and was unsubstantiated. Finally, the court concluded that defendant's sentence was substantively reasonable where the sentence fell within the Guidelines range. Accordingly, the court affirmed the judgment, remanding for the sole purpose of making ministerial corrections.
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