A defendant who tricked inexperienced investors into buying worthless stock was subject to the U.S. Sentencing Guidelines enhancement for crimes that target “vulnerable victims,” the U.S. Court of Appeals for the District of Columbia ruled April 9 (United States v. Fareri, D.C. Cir., No. 11-3098).
The defendant, Anthony Fareri, was a stockbroker who defrauded his clients of more than $3 million by selling them worthless securities, engaging in unauthorized trading on their behalf, and falsifying documents to conceal his wrongdoing. Fareri ultimately pleaded guilty to one count of wire fraud and was sentenced to 105 months’ imprisonment.
The ...
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