Appellate Decision Will Mean Fewer Cases with Money Laundering Charges, Say Attorneys

By Brian Monroe

An appellate court's decisions to vacate money laundering convictions for two former executives who fleeced investors of billions will likely mean that federal prosecutors charge fewer individuals with the crime, say attorneys. Judges in the Sixth Circuit Court of Appeals for the Southern District of Ohio said earlier this month that they had overturned the money laundering convictions of Donald Ayers and Roger Faulkenberry because prosecutors had not shown that the two former healthcare executives were attempting to conceal the nearly $2 billion they bilked as part of a securities scam. Ayers and Faulkenberry, who remain behind bars for related...