Amanat Brothers Lose Appeals Over Fraud, Conspiracy Convictions

Two brothers who were convicted for their roles in years-long scheme to defraud investors out of millions lost their respective Second Circuit appeals on Tuesday.

Following separate trials, Omar Amanat—an entrepreneur who helped to produce some of the Twilight films—and his brother Irfan were each found guilty of conspiracy to commit wire fraud, conspiracy to commit securities fraud, aiding and abetting investment-adviser fraud, and wire fraud.

Both challenged their wire fraud and related conspiracy convictions on the grounds that the government failed to prove that the object of the alleged fraud was “to obtain money or property.”

But the ...