Serial Securities Fraudster’s 20-Month Contempt Sentence Upheld

A former investment banker with a lengthy history of running afoul of US securities laws lost an appeal to undo a 20-month prison sentence for criminal contempt.

Craig Medoff argued that Judge Mark L. Wolf of the US District Court for the District of Massachusetts should have recused himself. The First Circuit was unpersuaded.

Medoff cited adverse rulings and critical comments Wolf made throughout the course of the proceeding. But judicial rulings and critical remarks alone generally don’t support a bias challenge, and Medoff offered no reason to deviate from the usual rule, the appeals court said Tuesday.

Wolf’s actions ...