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Sentences Reversed for Parties in $100 Million Fraud Scheme
Prosecutors have persuaded a federal appeals court to reverse the low sentences given a hotel group's former general counsel and its chief financial officer in connection with a $100 million bank fraud scheme. Monday the 2nd Circuit threw out the terms for one-time Days Inn GC Sanford Freedman and former CFO James Cutler. One reason Freedman initially received a lower sentence was the public humiliation he suffered, including the loss of his law license, but the circuit found that was "hardly unusual."