United States v. Bradford S. Taylor, United States of America v. Vincent Carmen Pinto

802 F.2d 1108, 21 Fed. R. Serv. 1233, 1986 U.S. App. LEXIS 32286
CourtCourt of Appeals for the Ninth Circuit
DecidedOctober 16, 1986
Docket85-1274, 85-1178
StatusPublished
Cited by84 cases

This text of 802 F.2d 1108 (United States v. Bradford S. Taylor, United States of America v. Vincent Carmen Pinto) is published on Counsel Stack Legal Research, covering Court of Appeals for the Ninth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
United States v. Bradford S. Taylor, United States of America v. Vincent Carmen Pinto, 802 F.2d 1108, 21 Fed. R. Serv. 1233, 1986 U.S. App. LEXIS 32286 (9th Cir. 1986).

Opinions

POOLE, Circuit Judge:

This case involves the frustrated attempt by several individuals to sell up to $16 million of stolen blank corporate bonds to an undercover FBI agent. As a result of this attempt, Vincent Carmen Pinto was tried and convicted of transporting stolen securities in interstate commerce in violation of 18 U.S.C. § 2314, possessing goods or chattels stolen from interstate shipment in violation of 18 U.S.C. § 659, and conspiracy to commit these two offenses in violation of 18 U.S.C. § 371. Bradford S. Taylor was also tried on these charges but was convicted only on the conspiracy charge. Both appellants challenge their convictions on various grounds.

FACTS AND PROCEEDINGS

In 1973, a blank bond issue for $25 million by A.C.F. Industries, Inc. was consigned to Emery Freight Co. in New York City for air shipment by National Air Lines to Baltimore, Maryland. The bonds, shipped by a financial printer to A.C.F. Industries, were complete except they lacked serial numbers, the names of the registered bond holders, and the signature of the assistant corporate trust officer. When the container arrived in Baltimore and was opened, the bonds were discovered missing.

Approximately twelve years later, in Las Vegas, Nevada, appellant Taylor and co-defendant Harold Szelap contacted Dennis Thomas, a stockbroker, to inquire whether Thomas had connections who would be interested in purchasing $22-25 million dollars in corporate bonds. At this meeting, Taylor showed Thomas a photocopy of one of the stolen A.C.F. Industries bonds. Appellant Vincent Pinto later met with Thomas and told Thomas that he possessed the bonds. Taylor was present at this meeting.

Thomas contacted the FBI and informed the agents of the offer. Cooperating with the FBI, Thomas gave Pinto the name of undercover agent Rick Baken as a potential purchaser of the blank bonds. Pinto contacted Baken and told Baken that Pinto had more than $22 million of A.C.F. Industries bonds available for sale. Pinto claimed that the bonds were in New York City and requested that Baken supply him with $800 so he could have an associate fly to New York and retrieve the bonds. Baken agreed to provide the money and to purchase $16 million of the bonds for 11% of their face value. Pinto and Baken also agreed that Taylor and Szelap would be compensated by Pinto for arranging the introduction.

The next day, at the Barbary Coast Hotel and Casino in Las Vegas, Baken gave Pinto $800. After the delivery of the cash, codefendant Alex Omega was observed to approach Pinto and was overheard stating to Pinto, “We’ré going now.” Pinto and Omega then left the hotel and casino together. Pinto later claimed that he lied to Baken about the bonds being in New York City, and that the truth was he only wanted the money so he could gamble it.

Several days later, Pinto met with agent Baken at Caesars Palace Hotel and Casino to continue negotiations for the sale of the bonds. Undercover agents observed Omega in the hotel and casino. Later that day, Pinto met Baken at a room in the hotel to finalize the sale. While this meeting was [1112]*1112going on, agents observed Omega waiting at the elevator landing area on the same floor. When Pinto produced $1 million of the stolen A.C.F. Industries bonds he was arrested. Omega thereafter was arrested, and a search of the briefcase he was carrying revealed scraps of paper containing telephone numbers and flight times between Las Vegas and New York.

The next day, Taylor was recorded in a telephone conversation with Thomas. During the conversation, Taylor, who was unaware of the arrests of Pinto and Omega, demanded his 1% commission for having helped set up the bond transaction. After this conversation, agents arrived at Taylor’s home and arrested him.

Taylor and Pinto, as well as co-defendants Omega and Szelap, were indicted for conspiracy, 18 U.S.C. § 371, interstate transportation of stolen securities, 18 U.S.C. § 2314, possession of goods or chattels stolen from interstate shipment, 18 U.S.C. § 659, and aiding and abetting the above crimes, 18 U.S.C. § 2.

At trial, Pinto took the stand and testified that he came into possession of the bonds back in 1976 or 1977 as a result of his winning a $52,500 bet with a gambler and/or bookmaker named Frank Pappas. Pappas told Pinto he was in financial trouble and so paid his debt with twenty $50,-000 face value blank A.C.F. Industries bonds. Because Pinto was in good financial condition, he put the bonds away. Later in 1984, Pinto’s finances turned sour. He claims he then started making inquiries about selling the bonds. Soon he met with Baken. Pinto maintains that his statements about having $22-25 million of the bonds was just puffing and that the reason Omega accompanied him to Caesars Palace was to provide security in case Baken tried to rob him.

The jury found Pinto guilty of all charges, but it convicted Taylor only on the conspiracy charge. Both timely appealed.

DISCUSSION

1. Blank Bonds as “Securities”

Taylor and Pinto both argue that their convictions should be reversed because the blank A.C.F. Industries bonds are not “securities” for purposes of 18 U.S.C. §§ 659 and 2314. Statutory interpretation is a question of law subject to de novo review. Trustees of Amalgamated Insurance Fund v. Geltman Industries, Inc., 784 F.2d 926, 929 (9th Cir.1986).

a. 18 U.S.C. § 2314

Section 2314 makes it a crime to transport in interstate or foreign commerce, any securities, of the value of $5,000 or more, knowing the securities to have been stolen. 18 U.S.C. § 2314.1 The term “securities,” as used in section 2314, is defined in section 2311:

Free access — add to your briefcase to read the full text and ask questions with AI

Related

United States v. Guihama
Court of Appeals for the Armed Forces, 2024
State v. Dyess
258 So. 3d 1095 (Louisiana Court of Appeal, 2018)
United States v. Jared Bowers
611 F. App'x 407 (Ninth Circuit, 2015)
United States v. Surya Prasad L. Davuluri
239 F.3d 902 (Seventh Circuit, 2001)
Folse v. Folse
738 So. 2d 1040 (Supreme Court of Louisiana, 1999)
State v. Bailey
713 So. 2d 588 (Louisiana Court of Appeal, 1998)
People v. Temple
36 Cal. App. 4th 1219 (California Court of Appeal, 1995)
United States v. Johnny Ted Nash
50 F.3d 17 (Ninth Circuit, 1995)
United States v. Hubbard
856 F. Supp. 1416 (E.D. California, 1994)
United States v. Jeffrey L. Foster and Karla Foster
985 F.2d 466 (Ninth Circuit, 1994)
United States v. Jones
First Circuit, 1993
Bloom v. Vasquez
840 F. Supp. 1362 (C.D. California, 1993)

Cite This Page — Counsel Stack

Bluebook (online)
802 F.2d 1108, 21 Fed. R. Serv. 1233, 1986 U.S. App. LEXIS 32286, Counsel Stack Legal Research, https://law.counselstack.com/opinion/united-states-v-bradford-s-taylor-united-states-of-america-v-vincent-ca9-1986.