US v. Cohen, No. 12-10240 (8-22-13)(Christen with Fletcher and Gould).


The 9th affirms the district court's applying to defendant a sentencing adjustment for misrepresenting that he was acting for a charitable organization even when his acts are not on behalf of a charity, but supposedly would benefit a charity. Here, the defendant had a scheme that promised great returns, the skyrocketing values of which could be used for the charity. He posed as a wealthy philanthropist, but instead of donating to the charity, he gave its donors the "opportunity" to invest in his company's shares at a below market cost and to reap the benefits. The benefits were not reaped, and losses followed. This offer was akin to misrepresenting a charitable donation.