United States v. Foreman

Court of Appeals for the Sixth Circuit·Decided March 25, 2003·No. 01-3892·Published

Opinion

5(&200(1'(' )25 )8//7(;7 38%/,&$7,21 3XUVXDQW WR 6L[WK &LUFXLW 5XOH   8QLWHG6WDWHVY)RUHPDQ 1R (/(&7521,& &,7$7,21  )(' $SS 3 WK &LU )LOH 1DPH DS 21%5,())UHGHULFN'%HQWRQsU&ROXPEXV2KLRIRU $SSHOODQW  %UHQGD 6 6KRHPDNHU $66,67$17 81,7(' 67$7(6$77251(<&ROXPEXV2KLRIRU$SSHOOHH 81,7('67$7(6&28572)$33($/6 BBBBBBBBBBBBBBBBB )257+(6,;7+&,5&8,7 BBBBBBBBBBBBBBBBB 23,1,21 BBBBBBBBBBBBBBBBB

81,7(' 67$7(6 2) $0(5,&$ ; 521$/' /(( *,/0$1 &LUFXLW sXGJH $ MXU\ IRXQG 3ODLQWLII$SSHOOHH  /HVOLH6FRWW)RUHPDQJXLOW\RIEDQNIUDXGPRQH\ODXQGHULQJ  DQGXWWHULQJDFRXQWHUIHLWVHFXULW\$IWHUGHQ\LQJ)RUHPDQjV  1R PRWLRQ IRU D QHZ WULDO EDVHG XSRQ D FODLP RI LQHIIHFWLYH Y  DVVLVWDQFHRIFRXQVHOWKHGLVWULFWFRXUWVHQWHQFHGKLPWR ! PRQWKVLQSULVRQIROORZHGE\\HDUVRIVXSHUYLVHGUHOHDVH  )RUWKHUHDVRQVVHWIRUWKEHORZZH$)),50WKHMXGJPHQWRI /(6/,( 6&277 )25(0$1  'HIHQGDQW$SSHOODQW  WKHGLVWULFWFRXUW 1 ,%$&.*5281' $SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW IRUWKH6RXWKHUQ'LVWULFWRI2KLRDW&ROXPEXV $ )DFWXDOEDFNJURXQG 1Rn(GPXQG$6DUJXVsU'LVWULFWsXGJH 2Q $SULO   DW DSSUR[LPDWHO\  SP D PDQ $UJXHG)HEUXDU\ ODWHULGHQWLILHGDV)RUHPDQZLWKGUHZIURP)RUHPDQjV DFFRXQW DW WKH +RQGD )HGHUDO &UHGLW 8QLRQ WKURXJK WKH 'HFLGHGDQG)LOHG0DUFK DXWRPDWLF WHOOHU PDFKLQH $70  DW 0LDPL 9DOOH\ %DQN LQ /DNHYLHZ 2KLR  7KH PDQ WKHQ HQWHUHG WKH EDQN DQG %HIRUH*,/0$1DQG*,%%216&LUFXLWsXGJHV FODLPLQJWREHsLP+XQWSXUFKDVHGDFDVKLHUjVFKHFNLQWKH 32/67(5'LVWULFWsXGJH DPRXQWRISD\DEOHWR6FRWW)RUHPDQ

BBBBBBBBBBBBBBBBB /DWHUWKDWHYHQLQJ)RUHPDQDQGKLVZLIHPHWZLWKDUHDOWRU FRQFHUQLQJ WKH SXUFKDVH RI D KRPH SULFHG DW MXVW XQGHU &2816(/ 7RSURYHKLVDELOLW\WRSD\WKHSXUFKDVHSULFHDQG WKHUHE\FRQVXPPDWHWKHVDOH)RUHPDQSUHVHQWHGWKHUHDOWRU $5*8(')UHGHULFN'%HQWRQsU&ROXPEXV2KLRIRU ZLWKDFDVKLHUjVFKHFNLQWKHDPRXQWRI7KHFKHFN $SSHOODQW  %UHQGD 6 6KRHPDNHU $66,67$17 81,7(' ZDVYLUWXDOO\LGHQWLFDOnH[FHSWIRUWKHDPRXQWnWRWKH 67$7(6 $77251(< &ROXPEXV 2KLR IRU $SSHOOHH FDVKLHUjVFKHFNSXUFKDVHGHDUOLHUWKDWGD\DW0LDPL9DOOH\ %DQN)RUHPDQDVNHGWKHUHDOWRUWRUHIXQGKLPWKHGLIIHUHQFH EHWZHHQ WKH FKHFN DQG WKH SULFH RI WKH KRPH DQG WKH\

DUUDQJHGWRPHHWWKHQH[WGD\IRUWKLVSXUSRVH7KHFDVKLHUjV 7KH +RQRUDEOH 'DQ $DURQ 3ROVWHU 8QLWHG 6WDWHV 'LVWULFW sXGJH IRU WKH 1RUWKHUQ 'LVWULFW RI 2KLR VLWWLQJ E\ GHVLJQDWLRQ FKHFNZDVVXEVHTXHQWO\GHSRVLWHGLQWRWKHHVFURZDFFRXQWRI

 1R 8QLWHG6WDWHVY)RUHPDQ   8QLWHG6WDWHVY)RUHPDQ 1R

9HQWXUH 7LWOH $JHQF\ GRLQJ EXVLQHVV DV $PHULWLWOH DW % 3URFHGXUDOEDFNJURXQG 1DWLRQDO&LW\%DQNLQ&ROXPEXV2KLR 7KHJUDQGMXU\IRUWKH6RXWKHUQ'LVWULFWRI2KLRUHWXUQHGD 2Q$SULO)RUHPDQPHWWKHUHDOWRUDW$PHULWLWOH ILYHFRXQW LQGLFWPHQW DJDLQVW )RUHPDQ LQ $XJXVW RI  DQGUHFHLYHGDFKHFNIRUWKHGLIIHUHQFH+HWKHQ &RXQW 2QH FKDUJHG KLP ZLWK XWWHULQJ DQG SRVVHVVLQJ D ZHQW WR 1DWLRQDO &LW\ %DQN DQG XVHG WKH FKHFN WR REWDLQ FRXQWHUIHLW VHFXULW\ RQ $SULO   LQ YLRODWLRQ RI  LQ FDVK DQG ILYH 1DWLRQDO &LW\ %DQN FKHFNV LQ WKH 86&† D 7KHVHFRQGDQGWKLUGFRXQWVDOOHJHGWKDW DPRXQWV RI     DQG KH H[HFXWHG D VFKHPH WR GHIUDXG 1DWLRQDO &LW\ %DQN DQG )RUHPDQQH[WWUDYHOHGWR+XQWLQJWRQ1DWLRQDO 0LDPL9DOOH\%DQNUHVSHFWLYHO\LQYLRODWLRQRI86& %DQNLQ+LOOLDUG2KLR+HJDYHWKHEDQNWKHODUJHVWRIWKH †   &RXQW )RXU FKDUJHG )RUHPDQ ZLWK HQJDJLQJ LQ D 1DWLRQDO&LW\%DQNFKHFNVWRSD\RIIWKHEDODQFH PRQHWDU\ WUDQVDFWLRQ LQ FULPLQDOO\ GHULYHG SURSHUW\ LQ RQ KLV FDU ORDQ  :KHQ WKH EDQN UHIXVHG WR JLYH KLP WKH YLRODWLRQ RI  86& †  ZKHQ KH H[FKDQJHG WKH GLIIHUHQFH LQ FDVK KH RSHQHG D QHZ VDYLQJV DFFRXQW FKHFNIRUFDVKDQGRWKHUFKHFNV7KHILIWKFRXQW GHSRVLWHGWKHFKHFNDQGGLUHFWHGWKDWEHDSSOLHG VRXJKWIRUIHLWXUHRIWKHKRXVHKLVFDUDQGWKH WRKLVORDQ+HVXEVHTXHQWO\ZLWKGUHZDOOEXWRIWKH UHPDLQGHU $WWKHFRQFOXVLRQRIDWKUHHGD\MXU\WULDO)RUHPDQZDV FRQYLFWHG RQ WKH ILUVW IRXU FRXQWV RI WKH LQGLFWPHQW  7KH 1DWLRQDO&LW\%DQNSUHVHQWHGWKHFKHFNWR0LDPL JRYHUQPHQWVXEVHTXHQWO\GLVPLVVHG&RXQW)LYHDW)RUHPDQjV 9DOOH\ %DQN IRU SD\PHQW RQ 0D\    0LDPL 9DOOH\ VHQWHQFLQJKHDULQJ)RUHPDQILOHGDSURVHPRWLRQIRUDQHZ %DQNTXLFNO\GLVFRYHUHGWKDWKRQRULQJWKHSD\PHQWZRXOG WULDO RQH ZHHN DIWHU KLV FRQYLFWLRQ FODLPLQJ WKDW KH KDG KDYHFDXVHGLWVFDVKLHUjVFKHFNDFFRXQWWREHRYHUGUDZQDQG UHFHLYHGWKHLQHIIHFWLYHDVVLVWDQFHRIFRXQVHO)RUHPDQjVWULDO DIWHULQYHVWLJDWLQJGHWHUPLQHGWKDWWKHFKHFNZDV ODZ\HU WKHUHDIWHU PRYHG WR ZLWKGUDZ DV FRXQVHO ZKLFK DFRXQWHUIHLW2Q0D\0LDPL9DOOH\%DQNUHIXVHG PRWLRQ ZDV JUDQWHG E\ WKH GLVWULFW FRXUW  )RUHPDQ WKHQ SD\PHQWRIWKHFRXQWHUIHLWFKHFNDQGUHWXUQHGLWWR1DWLRQDO UHWDLQHGDGLIIHUHQWDWWRUQH\WRUHSUHVHQWKLPLQDOOVXEVHTXHQW &LW\%DQNDORQJZLWKDFRS\RIWKHFKHFNXSRQZKLFKLW SURFHHGLQJV2YHUILYHGD\VLQsXO\RIWKHGLVWULFWFRXUW ZDVPRGHOHG1DWLRQDO&LW\%DQNWKHQGHELWHGWKHHVFURZ KHOG D KHDULQJ RQ )RUHPDQjV PRWLRQ IRU D QHZ WULDO  7KH DFFRXQWRI$PHULWLWOHIRUWKH GLVWULFWFRXUWXOWLPDWHO\GHQLHGWKHPRWLRQ )RUHPDQJDYHKLVZLIHLQFDVKVKRUWO\DIWHUWKHUHDO )RUHPDQWKHQSURFHHGHGWRVHQWHQFLQJ7KHGLVWULFWFRXUW HVWDWH FORVLQJ DQG WROG KHU WR XVH LW IRU ELOOV DQG PRYLQJ DGRSWHG WKH IDFWXDO ILQGLQJV DQG 6HQWHQFLQJ *XLGHOLQHV H[SHQVHV2Q0D\WKUHHGD\VDIWHUKHOHDUQHGWKDW DSSOLFDWLRQ FRQWDLQHG LQ WKH 3UHVHQWHQFH 5HSRUW ZKLFK 0LDPL 9DOOH\ %DQN KDG LGHQWLILHG WKH FDVKLHUjV FKHFN DV FDOFXODWHG)RUHPDQjVEDVHRIIHQVHOHYHOXVLQJ8QLWHG6WDWHV FRXQWHUIHLW)RUHPDQZHQWWRWKH)DLUILHOG3ROLFH'HSDUWPHQW 6HQWHQFLQJ *XLGHOLQHV 0DQXDO † 6  nWKH WRFRPSODLQWKDWmsLP+XQWlKDGGHIUDXGHGKLP+HGLGQRW *XLGHOLQH IRU YLRODWLRQV RI  86& †   2YHU SUHVHQW WKH SROLFH ZLWK DQ\ GRFXPHQWDWLRQ WR EDFN XS KLV )RUHPDQjV REMHFWLRQ WKH GLVWULFW FRXUW DSSOLHG D WZROHYHO FODLPDQGQRSROLFHUHSRUWZDVSUHSDUHG HQKDQFHPHQW SXUVXDQW WR † 6 E  %  EDVHG XSRQ )RUHPDQjVNQRZOHGJHWKDWWKHIXQGVKHODXQGHUHGZHUHWKH SURFHHGV RI D FRXQWHUIHLW FKHFN  7KH GLVWULFW FRXUW WKHQ VHQWHQFHGKLPWRPRQWKVLQSULVRQIROORZHGE\\HDUVRI VXSHUYLVHGUHOHDVH7KLVWLPHO\DSSHDOIROORZHG 1R 8QLWHG6WDWHVY)RUHPDQ   8QLWHG6WDWHVY)RUHPDQ 1R

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

United States v. Foreman, (6th Cir. 2003).

United States v. Foreman (United States v. Foreman) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.