Judge Boyko throws the book at broker
July 13, 2009
Ohio: Federal judge Christopher Boyko sentenced disgraced investment banker Phillip Rossi to twelve years in federal prison on July 13, 2009. Rossi was found guilty of bilking investors out of $3.5 million.
Boyko threw out the normal sentencing guidelines and gave Rossi twice the maximum sentence the guidelines would have allowed. Rossi pleaded guilty to a single count of fraud.
In explaining his rationale for the sentence, Boyko took issue with Rossi continuing to defraud investors after he had been confronted last fall by both FBI and postal service investigators. Boyko also noted that the twelve year sentence was warranted when Rossi continued to contact victims after his indictment. "That to me is the height of arrogance and greed," said Judge Boyko. [1]
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