Robert Farrace v. United States
SocialSecurity Securities Immigration
Can a wire fraud conviction be sustained where the monetary losses to lenders were due to a decrease in market value of properties, and the government did not establish any deprivation of the lenders' money or property as the object of the scheme?
QUESTION PRESENTED Under this Court’s recent decision in Kelly v. United States, 140 S.Ct. 1565, 1568 (2020), can a conviction for wire fraud in violation of 18 U.S.C. § 1343 be sustained where it is undisputed that, during the Great Recession, the monetary losses to the lenders on the value of the underlying mortgages at issue were a result of a decrease in the market value of the two real properties Petitioner sought to sell via short sale procedures, and where the government did not establish any deprivation of the mortgage lenders’ “money or property” as the “object of’ any scheme by Petitioner? i