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12/09/23 7:41 AM

#97017 RE: I ll be back #97016

It's a federal beef so hearings were in Washington.
Court submissions suggest he was remanded in a nearby state, under the care of US marshalls. But as it was a Federal crime, that suggests Federal prison jurisdiction, rather than California state law.
Pretty clear that he will almost certainly be barred from holding office in any company going forward, which should protect any future investors, notwithstanding any forfeiture orders, which are probably moot, if he has been on the level about his finances. And if he hasn't, then he is in a whole heap of additional trouble!


12/09/23 8:22 AM

#97018 RE: I ll be back #97016

Another thing we can glean from the court records is the likely sentencing range. And the main determinant here will be what the judge rules as the dollar amount of the fraud.
At sentencing, the defence will likely try to argue this down (presumably on the basis that Berman's personal benefit was limited).
Best case for Berman that I can conceive would be that the dollar amount was set at between $250,000 and $550,000. Because he has already stipulated to blowing that on web cams.
That would put him at point 19 on the sentence guidelines with a category 1 history giving a sentence of 30-37 months.
My suspicion is that would be unlikely and unduly lenient. But I am not the judge. I really don't see that happening. But I see no way for any less than that being handed down on the basis of already established facts.

At the other end of the scale, prosecution puts the dollar amount in the >$25,000,000 category on the basis of the impact of the fraud on share price which ultimately led to investor losses.
If the judge accepts their arguments then - depending on how other factor play out, that puts him at 29 or 31 on the sentencing scale.
This would carry a sentence range of 87 to 121 months. So 7.5 to 10 years.
If the judge comes to an intermediate scale of losses, then the sentence will fall between these ranged.
My reading is that if the defence do a good job on this, he might escape with about 7-8 years.
But if all his pre-trial shenanigans have backfired on him with the judge (which he was warned about various times in the proceedings) then he'll go down for a 10 stretch. And frankly, he deserves to!

I'd be amazed if he gets anything less than 5 years. And I'd reasonably expect him to see out the decade incarcerated.
Bearing in mind that he has already served 8 months or so on remand.

But its not up to me. And Its not up to Keith. Its up to the Judge now. Lets see what gives!