A convicted fraudster cannot be ordered to pay restitution that reflects only his gain rather than the victim's loss, according to this opinion from the U.S. Court of Appeals for the Seventh Circuit. In the case, the defendant was ordered to forfeit approximately $16 million and to pay restitution of that same amount. Judge Richard Posner, writing for the court, reasoned the district court erred by ordering restitution based on ill-gotten gains rather than calculating the victim's losses. Therefore, "the order of restitution cannot stand."
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