« Intriguing federal civil rights case assailing New York sex offender family restrictions | Main | Eighth Circuit rejects "safe sex" special condition of supervised release »

July 21, 2015

"Sentencing the Wolf of Wall Street: From Leniency to Uncertainty"

The title of this post is the title of this notable new paper now available via SSRN authored by Lucian Dervan. Here is the abstract:

This Symposium Article, based on a presentation given by Professor Dervan at the 2014 Wayne Law Review Symposium entitled "Sentencing White Collar Defendants: How Much is Enough," examines the Jordan Belfort (“Wolf of Wall Street”) prosecution as a vehicle for analyzing sentencing in major white-collar criminal cases from the 1980s until today.

In Part II, the Article examines the Belfort case and his relatively lenient prison sentence for engaging in a major fraud.  This section goes on to examine additional cases from the 1980s, 1990s, and 2000s to consider the results of reforms aimed at “getting tough” on white-collar offenders.  In concluding this initial examination, the Article discusses three observed trends.  First, today, as might be expected, it appears there are much longer sentences for major white-collar offenders as compared to the 1980s and 1990s.  Second, today, there also appears to be greater uncertainty and inconsistency regarding the sentences received by major white-collar offenders when compared with sentences from the 1980s and 1990s.  Third, there appear to have been much smaller sentencing increases for less significant and more common white-collar offenders over this same period of time.

In Part III, the Article examines some of the possible reasons for these observed trends, including amendments to the Federal Sentencing Guidelines, increased statutory maximums, and judicial discretion.  In concluding, the Article offers some observations regarding what the perceived uncertainty and inconsistency in sentencing major white-collar offenders today might indicate about white-collar sentencing more broadly.  In considering this issue, the Article also briefly examines recent amendments adopted by the U.S. Sentencing Commission and proposed reforms to white-collar sentencing offered by the American Bar Association. 

July 21, 2015 at 10:22 AM | Permalink

Comments

The government should stop prosecuting sharp business practices.

Then it should hunt, find, and prosecute real fraud, hacking,and stealing.

If the amount lost exceeds $6 million, or whatever the value of human life is specified at the time of the crime, there should be a mandatory death sentence. The sole factor should be the real amount lost, a measurable fact.

The defendant would have destroyed the economic value and taken an economic life. Trials in absentia should be allowed. Once death has been imposed, drones should be sent to the yachts of the condemned on foreign soil, and the sentence should be carried out, no matter what the location. To deter.

Posted by: Supremacy Claus | Jul 21, 2015 5:56:57 PM

Post a comment

In the body of your email, please indicate if you are a professor, student, prosecutor, defense attorney, etc. so I can gain a sense of who is reading my blog. Thank you, DAB