United States v. Hussain, No. 19-10168 (9th Cir. 2020)
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The Ninth Circuit affirmed defendant's convictions and sentence for wire fraud, conspiracy to commit wire fraud, and securities fraud. Defendant, who served as Chief Financial Officer of Autonomy Corporation, a U.K. technology company that Hewlett-Packard acquired in 2011, and others fraudulently inflated revenue through a series of elaborate accounting schemes.
The Ninth Circuit held that defendant's wire fraud convictions did not involve an impermissible extraterritorial application of United States law to foreign conduct because the "focus" of the wire fraud statute is the use of the wires in furtherance of a scheme to defraud, and defendant used domestic wires to perpetrate his fraud. The panel also held that there was sufficient evidence to support defendant's conviction for securities fraud because a reasonable jury could conclude that defendant's approval of false and misleading financial information in an HP press release distributed to the investing public reflected a fraudulent scheme "in connection with" U.S. securities. The panel concurrently filed a memorandum disposition holding that the district court did not abuse its discretion in certain evidentiary rulings or err in ordering money forfeiture.
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