I am home from the terrific Miami FSG conference (kudos to everyone involved), and on the way I was thinking about Judge Rakoff's decision this past week to give an enormous variance — the largest I have seen — to a
corporate president who apparently faced a life sentence under the guidelines after a
fraud conviction that resulted in $ 260 million in losses (basics here).
In Adelson, SDNY District Judge Jed Rakoff's granted an huge variance to a
corporate president who faced a life sentence under the federal sentencing guidelines after a
fraud conviction that resulted in $ 260 million in losses.