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Securities

Nov. 14, 2006

White-Collar Crooks Don't Deserve Special Pass

LETTER TO THE EDITOR - Regarding Howard Privette's "Sentencing Guidelines Encourage Draconian Punishments for Securities Fraud" (Daily Journal, Nov. 6), a jury convicted former Homestore CEO Stuart Wolff for leading a scheme to "cook the books" at a public corporation.

Regarding Howard Privette's "Sentencing Guidelines Encourage Draconian Punishments for Securities Fraud" (Daily Journal, Nov. 6), a jury convicted former Homestore CEO Stuart Wolff for leading a scheme to "cook the books" at a public corporation. Wolff deliberately caused over $1 billion in investor losses, yet his criminal defense lawyer protests the 15-year sentence imposed on him. In particular, his lawyer favors a civil-type proceeding in which "rigorous economic analysis" ...

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