'Loss' under ' 2B1.1 of the U.S. Sentencing Guidelines is a pivotal sentencing issue in many federal fraud cases.
'Loss' in the Air Will Not Do
Sky-high loss enhancements are increasingly scrutinized in a post-<i>Booker</i> world. Drawing on civil securities law, recent decisions in several circuits endorse an approach holding a defendant responsible for only the portion of victims' losses that was proximately caused by the offense. Some courts' critical analyses bode well for future sentencings.
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