US v. McKanry, No. 10-1027
Conviction for Defrauding Lenders Affirmed
In US v. McKanry, No. 10-1027, the court affirmed defendant's conviction and sentence for conspiring to defraud lenders, lying to a U.S. postal worker, mail fraud, and wire fraud where 1) it was reasonable for the jury to convict defendant of conspiracy to commit mail and wire fraud; 2) a reasonable jury could infer defendant, an experienced real estate professional, was aware these bogus payouts were meant to deceive the lenders; and 3) the district court did not err by basing its loss calculation upon the fraudulent transactions for which defendant was acquitted or not charged.
As the court wrote: "A jury convicted William E. McKanry of conspiring to defraud lenders in violation of 18 U.S.C. § 371, lying to a United States postal worker in violation of 18 U.S.C. § 1001(a)(2), mail fraud in violation of 18 U.S.C. §§ 1341 and 2, and wire fraud in violation of 18 U.S.C. §§ 1343 and 2. The district court1 sentenced McKanry to 27 months imprisonment. The district court also imposed victims' restitution in the amount of $732,753.47. McKanry appeals his conviction and sentence. We affirm."
- Read the Eighth Circuit's Decision in US v. McKanry, No. 10-1027
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