A Mississippi businessman convicted of a Covid protection equipment price-inflation scheme persuaded the Fifth Circuit Thursday to vacate his 60-month prison sentence.
The trial court improperly low-balled the fair market value of Kenneth Ritchey’s masks when calculating the estimated loss to his victims, Judge Stuart Kyle Duncan said.
The court errs “if it ‘overemphasize[s] [its] discretion as factfinder at the expense of economic analysis,’” Duncan, of the US Court of Appeals for the Fifth Circuit, wrote, quoting Fifth Circuit law. “That is what happened here.”
Federal prosecutors said in 2021 that Ritchey unlawfully hiked the prices of PPE he ...
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