3rd Circuit: No Double Jeopardy In Criminal Case After Securities Disgorgement

(August 10, 2023, 10:28 AM EDT) -- PHILADELPHIA — A Tennessee securities broker-dealer who was disgorged of ill-gotten gains in a civil securities case failed to show that a criminal prison sentence and an order to pay restitution for transferring assets from a company pension plan into his accounts violated the double jeopardy clause of the Fifth Amendment to the U.S. Constitution, a Third Circuit U.S. Court of Appeals panel ruled....