United States v. John Serpico and Gilbert Cataldo

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that a bank’s exposure to the risks of loans it would not otherwise have issued absent a fraudulent scheme constitutes an effect on a financial institution within the meaning of FIRREA
• recognizing deterrence as principal thrust of FIRREA enhanced criminal/civil provisions
• “[W]e find it hard to understand how a bank that was put out of business as a direct result of the scheme was not ‘affected,’ even if it played an active part in the scheme.”
• quot- ing U.S.S.G. § 2B1.1, cmt. n.2(B) (2001) (“The court shall use the gain that resulted from the offense as an alternative measure of loss only if there is a loss but it reasonably cannot be deter- mined.’ ”)
• “Just as society punishes someone who recklessly fires a gun, whether or not he hits anyone, protection for financial institutions is much more effective if there’s a cost to putting those institutions at risk, whether or not there is actual harm.”

Source: CourtListener parenthetical corpus (CC0).