Securities Fraud Terminology

December 6, 2012

  • 110 Criminal Law
  • 110XVII Evidence
  • 110XVII(R) Opinion Evidence
  • 110k449 Witnesses in General
  • 110k451 Inferences or Impressions from Collective Facts
  • 110k451(4) k. Opinion as to meaning and effect of words and acts of other person.

110 Criminal LawIn securities fraud trial, undercover agent was properly permitted, in order to aid the jury’s understanding of the recorded conversations, to explain his understanding of various terms and phrases which were used or referred to in the recorded conversations with defendant, including: “this is a risky business”, brokers “aren’t doing it for free”, “ratchet”, “mailers and e-mail blasts”, a “prearranged” sale, “dummy company”, stock being “completely tight”; company having “leftovers”, “rev up” a deal; terms and phrases were far from clear and straightforward, and involved jargon, technical securities terms and code-like references.
U.S. v. Georgiou, 742 F.Supp.2d 613 (2010)