A former broker-dealer who was convicted of stealing over $5 million failed to convince a federal appeals court that his disgorgement and criminal sentence violates double jeopardy principles.
“Today, we join every other circuit court to address the issue in holding that the Double Jeopardy clause does not prevent a person subject to a disgorgement order from being criminally sentenced for the same conduct,” the US Court of Appeals for the Third Circuit said on Friday. Eight other circuits have made the same determination.
John Jumper of Alluvion Securities was sentenced to a 78-month imprisonment and ordered to pay restitution ...
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