Justia White Collar Crime Opinion Summaries

Plaintiff was a high-level high-school basketball player who wanted to play in the NBA. After graduating high school, Plaintiff committed to the University of Louisville. However, subsequently, Plaintiff's father accepted a bribe in relation to Plaintiff's decision to play for Louisville. As a result, Plaintiff lost his NCAA eligibility. Plaintiff filed RICO claims against the parties who were central to the bribery scheme. The district court granted summary judgment to Defendants, finding that Plaintiff did not demonstrate an injury to his business or property, as required for a private civil RICO claim.The Fourth Circuit affirmed. Congress made the civil RICO cause of action for treble damages available only to plaintiffs “injured in [their] business or property” by a defendant’s RICO violation. Without such an injury, even a plaintiff who can prove he suffered some injury as a result of a RICO violation lacks a cause of action under the statute. The Fourth Circuit rejected Plaintiff's claims that the loss of benefits secured by his scholarship agreement with Louisville; the loss of his NCAA eligibility; and the loss of money spent on attorney’s fees attempting to regain his eligibility constituted a cognizable business or property injury. View "Brian Bowen, II v. Adidas America Inc." on Justia Law

Eberts is a film producer whose credits include Lord of War (2005) and Lucky Number Slevin (2006). After a string of failed movies, in 2009, he filed for bankruptcy. He was introduced to Elliott, an Illinois novice author who wanted to adapt his book into a movie. Eberts and Elliott formed a limited liability company. Both agreed to invest money. Eberts did not disclose his insolvency. Over the next year Elliott wired $615,000 to accounts controlled by Eberts. Eberts applied only 10% of that money toward the movie; he paid his father and bankruptcy attorney and spent the rest on personal items like art, furniture, designer clothing, and fine wines. Eberts also solicited and received a $25,000 loan from Elliott for an unrelated project and never repaid it. After Elliott discovered the scam, he filed suit. Later, Eberts pleaded guilty to seven counts of wire fraud, 18 U.S.C. 1343, and three counts of money laundering, section 1957, and was sentenced to 46 months’ imprisonment, the top of the guidelines range. The Seventh Circuit affirmed, rejecting an argument that the court failed to consider the 18 U.S.C. 3553(a) sentencing factors or Eberts’s mitigation arguments, but based the sentence on unsupported facts. View "United States v. Eberts" on Justia Law