Asset Forfeiture – Bank Credit

By: Derek Hawkins//June 11, 2019//

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7^th Circuit Court of Appeals

Case Name: United States of America v. Sushil A. Sheth

Case No.: 17-2741

Officials: BAUER, ROVNER, and HAMILTON, Circuit Judges.

Focus: Asset Forfeiture – Bank Credit

Dr. Sushil Sheth amassed significant wealth as a cardiologist, but, as he later admitted in a plea agreement, he did so in a scheme to overbill government and private insurers by approximately $13 million. In his plea agreement he agreed to forfeit $13 million in assets as a condition of his plea. The United States, in turn, allowed that it would apply the proceeds of the forfeited property to any restitution judgment resulting from his conviction. Sheth now disputes that the United States gave him the appropriate credit for some of the forfeited assets. We agree with Sheth that he did not receive the proper credit for certain bank account funds, but affirm the district court’s decision as to the valuation of the real property he contests.

Affirmed in part. Reversed in part.

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Derek A Hawkins is trademark corporate counsel for Harley-Davidson. Hawkins oversees the prosecution and maintenance of the Harley-Davidson’s international trademark portfolio in emerging markets.

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