By: WISCONSIN LAW JOURNAL STAFF//July 22, 2014//
U.S. Court of Appeals
For the Seventh Circuit
Criminal
Sentencing – Amount of loss
In calculating the amount of loss of a real estate fraud, the district court did not err in not reducing the amount by amounts the homes later sold for.
“Although it is true that the application notes to U.S.S.G. 2B1.1 instruct that loss amounts also should be offset by the collateral, the issue of loss had been waived. Had it not been waived, the district court could have considered the evidence about sale of the homes to determine the amount of offset of the collateral, but then the relevant conduct of the unconvicted counts would also have been fair game. Locke cannot argue that the court should have considered evidence to lower the amount of loss, but not to consider conduct that surely would have increased the amount of loss. That smacks of wanting to have one’s cake and eat it too.”
Affirmed.
11-3743 U.S. v. Locke
Appeal from the United States District Court for the Southern District of Indiana, McKinney, J., Rovner, J.