Pearson is now scheduled to be sentenced June 14th for eight counts of wire fraud. He faces 70 to 87 months in prison under federal sentencing guidelines. The guidelines are only advisory, however, so the prosecution and defense are attempting to convince Judge Robert N. Chatigny to depart from them. The judge adjourned the hearing after determining he does not have enough information to make a decision.
Prosecutor David T. Huang is seeking an enhanced sentence, claiming Pearson committed perjury during and after the trial, including when he spent two days on the witness stand. Additionally, Huang said an enhancement is in order because Pearson abused the trust of the investors and because a substantial portion of the fraud was committed outside of the country. Additionally, Huang said the evidence shows that Pearson intended to defraud investors of an additional $500,000….Continue article here.