United States v. Sanders

U.S. Court of Appeals for the Sixth Circuit

United States v. Sanders

Opinion

5(&200(1'(' )25 )8//7(;7 38%/,&$7,21 3XUVXDQW WR 6L[WK &LUFXLW 5XOH 

(/(&7521,& &,7$7,21  )(' $SS 3 WK &LU )LOH 1DPH DS

81,7('67$7(6&28572)$33($/6 )257+(6,;7+&,5&8,7 BBBBBBBBBBBBBBBBB

81,7(' 67$7(6 2) $0(5,&$ ; 3ODLQWLII$SSHOOHH    1R Y  !  +(67(5 6$1'(560RWKHU  +(/(1 5 67,()(/6LVWHU  'HIHQGDQWV$SSHOOHHV   &$55,( 6 6$1'(56   LQGLYLGXDOO\DQGDVFR  H[HFXWRURIWKHHVWDWHRI  0DUYLQ&6DQGHUV  'HIHQGDQW$SSHOODQW   s$0(6 67(3+(16DVFR   H[HFXWRURIWKHHVWDWHRI  0DUYLQ&6DQGHUV  'HIHQGDQW   1 $SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW IRUWKH(DVWHUQ'LVWULFWRI7HQQHVVHHDW&KDWWDQRRJD 1R nsRKQ3RZHUV0DJLVWUDWHsXGJH $UJXHG 6HSWHPEHU

  8QLWHG6WDWHVY6DQGHUVHWDO 1R

'HFLGHGDQG)LOHG 2FWREHU %HIRUH *8<DQG%$7&+(/'(5&LUFXLWsXGJHV 48,67'LVWULFWsXGJH

BBBBBBBBBBBBBBBBB &2816(/ $5*8('   0DUN 6WHZDUW :LQFKHVWHU 7HQQHVVHH IRU $SSHOODQW  +RZDUG * 6ZDIIRUG 6:$))25' 6:$))25' sDVSHU 7HQQHVVHH 0 .HQW $QGHUVRQ $66,67$1781,7('67$7(6$77251(<&KDWWDQRRJD 7HQQHVVHH IRU $SSHOOHHV  21 %5,()   0DUN 6WHZDUW :LQFKHVWHU7HQQHVVHHIRU$SSHOODQW+RZDUG*6ZDIIRUG 6:$))25' 6:$))25's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† $IWHUUHYLHZZHDIILUP

7KLV GHFLVLRQ ZDV RULJLQDOO\ LVVXHG DV DQ mXQSXEOLVKHG GHFLVLRQl ILOHG RQ 2FWREHU   2Q 'HFHPEHU   WKH FRXUW GHVLJQDWHG WKH RSLQLRQ DV RQH UHFRPPHQGHG IRU IXOOWH[W SXEOLFDWLRQ

7KH +RQRUDEOH *RUGRQ s 4XLVW 8QLWHG 6WDWHV 'LVWULFW sXGJH IRU WKH :HVWHUQ 'LVWULFW RI 0LFKLJDQ VLWWLQJ E\ GHVLJQDWLRQ 1R 8QLWHG6WDWHVY6DQGHUVHWDO 

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jV JXDUGLDQ&OHYHODQG%DQNDQG7UXVW&RPSDQ\VXEPLWWHGD 'HVLJQDWLRQ RI %HQHILFLDU\ IRUP ZKLFK FKDQJHG WKH EHQHILFLDU\ RQ WKH WZR SROLFLHV WR m0UV 0DUYLQ 6DQGHUVl 7KH 9HWHUDQV $GPLQLVWUDWLRQ DFFHSWHG WKH FKDQJH RI EHQHILFLDU\ ,Q   D VXFFHVVRU JXDUGLDQ 6WHYHQ :LWW VXEPLWWHG D VHFRQGGHVLJQDWLRQQDPLQJ&DUULH6DQGHUVDVWKHEHQHILFLDU\ :LWW ZDV UHVSRQGLQJ WR D 9HWHUDQV $GPLQLVWUDWLRQ LQTXLU\ LQWRWKHLGHQWLW\RIm0UV0DUYLQ6DQGHUVl1HLWKHUJXDUGLDQ UHFHLYHGFRXUWDSSURYDORIWKHFKDQJHRIEHQHILFLDU\1RRQH GLVSXWHVWKDW0DUYLQ6DQGHUVUHPDLQHGLQFRPSHWHQWXQWLOKLV GHDWKLQ  8SRQKLVGHDWK0DUYLQ6DQGHUVjVPRWKHUDQGVLVWHUILOHGDQ DFWLRQ DJDLQVW WKH 8QLWHG 6WDWHV FODLPLQJ WR EH WKH ODZIXO EHQHILFLDULHVXQGHUWKHWZRSROLFLHV7KHFRXUWRUGHUHGWKH UHDOLJQPHQW RI WKH SDUWLHV DQG WKH 8QLWHG 6WDWHV ILOHG DQ LQWHUSOHDGHUFRPSODLQWQDPLQJWKHPRWKHUVLVWHUDQGZLIHDV GHIHQGDQWV 7KHFDVHZDVWULHGE\DPDJLVWUDWHMXGJHZLWKWKHFRQVHQW RIWKHSDUWLHVSXUVXDQWWR86&† F 7KHGHIHQGDQWV ILOHGFURVVPRWLRQVIRUVXPPDU\MXGJPHQW7KHPDJLVWUDWH MXGJH GHQLHG WKH ZLIHjV PRWLRQ DQG JUDQWHG VXPPDU\ MXGJPHQW WR WKH PRWKHU DQG VLVWHU  7KH PDJLVWUDWH MXGJH IRXQG WKDW WKH DWWHPSWHG FKDQJH RI EHQHILFLDU\ ZDV QRW  8QLWHG6WDWHVY6DQGHUVHWDO 1R 1R 8QLWHG6WDWHVY6DQGHUVHWDO

HIIHFWLYH EHFDXVH XQGHU 7HQQHVVHH ODZ D JXDUGLDQ FDQQRW 1HLWKHUWKH QRUWKH FKDQJHRIEHQHILFLDU\ZDV FKDQJH D EHQHILFLDU\ RQ DQ LQVXUDQFH SROLF\ ZLWKRXW FRXUW DSSURYHGE\D7HQQHVVHHFRXUW1HLWKHUJXDUGLDQWKHUHIRUH DSSURYDO7KLVDSSHDOIROORZHG ZDVDXWKRUL]HGWRFKDQJHWKHEHQHILFLDU\RQ0DUYLQ6DQGHUVjV 16/,SROLF\DQGWKHJUDQWRIVXPPDU\MXGJPHQWRUGHULQJ ,, SD\PHQW XQGHU WKH SROLFLHV WR KLV PRWKHU DV WKH SULQFLSDO EHQHILFLDU\LV$)),50(' :HUHYLHZWKHJUDQWRIVXPPDU\MXGJPHQWGHQRYR6PLWK Y$PHULWHFK )G WK&LU  6XPPDU\ MXGJPHQWLVDSSURSULDWHZKHQWKHUHDUHQRLVVXHVRIPDWHULDO IDFWLQGLVSXWHDQGWKHPRYLQJSDUW\LVHQWLWOHGWRMXGJPHQW DV D PDWWHU RI ODZ  )(' 5 &,9 3  F   ,Q GHFLGLQJ D PRWLRQ IRU VXPPDU\ MXGJPHQW WKH FRXUW PXVW YLHZ WKH IDFWXDOHYLGHQFHDQGGUDZDOOUHDVRQDEOHLQIHUHQFHVLQIDYRU RI WKH QRQPRYLQJ SDUW\  0DWVXVKLWD (OHF ,QGXV &R Y =HQLWK5DGLR&RUS86    $SSHOODQW DUJXHV WKDW VWDWH ODZ GRHV QRW DSSO\ WR 16/, SROLFLHV DQGEHFDXVHWKHFKDQJHLQEHQHILFLDU\IRUPZDVILOHG SULRU WR WKH LQVXUHG YHWHUDQjV GHDWK WKH OLIH LQVXUDQFH SURFHHGVPXVWEHSDLGWRKHUDVWKHQDPHGEHQHILFLDU\7KH JRYHUQPHQWDQGWKHDSSHOOHHVDUJXHWKDWWKHPDJLVWUDWHMXGJH FRUUHFWO\DSSOLHG7HQQHVVHHODZWRGHWHUPLQHZKHQDJXDUGLDQ LVDXWKRUL]HGWRFKDQJHDEHQHILFLDU\XQGHUDQ16/,SROLF\RQ EHKDOIRIDQLQFRPSHWHQWLQVXUHGYHWHUDQ 7KHIHGHUDOVWDWXWHJRYHUQLQJDFKDQJHRIEHQHILFLDU\XQGHU DQ16/,SROLF\SURYLGHV m7KHLQVXUHGVKDOOVXEMHFWWR UHJXODWLRQV DW DOO WLPHV KDYH WKH ULJKW WR FKDQJH WKH EHQHILFLDU\ RU EHQHILFLDULHV RI VXFK LQVXUDQFH ZLWKRXW WKH FRQVHQW RI VXFK EHQHILFLDU\ RU EHQHILFLDULHVl   86& †  D 6HHDOVR&)5†   7KHFKDQJHRI EHQHILFLDU\mWREHHIIHFWLYHPXVWEHPDGHE\QRWLFHLQZULWLQJ

 7KH GLVWULFW FRXUW DZDUGHG WKH PRWKHU DQG VLVWHU DWWRUQH\ IHHV HTXDO WR WHQ SHUFHQW RI WKH VXPV SDLG XQGHU WKH 16/, SROLFLHV SOXV LQWHUHVW SXUVXDQW WR  86& †   J  7KH JRYHUQPHQW DVNV WKLV FRXUW WR DIILUP WKH GLVWULFW FRXUWjV RUGHU :H GHFOLQH WR UHYLHZ WKLV UXOLQJ EHFDXVH QR SDUW\ KDV FKDOOHQJHG WKH DZDUG RQ DSSHDO DQG WKH GLVWULFW FRXUWjV RUGHU VWDQGV  8QLWHG6WDWHVY6DQGHUVHWDO 1R 1R 8QLWHG6WDWHVY6DQGHUVHWDO 

LQVDQHSHUVRQLVRIFRXUVHLQFDSDEOHRIH[HUFLVLQJDULJKWRU VLJQHG E\ WKH LQVXUHG DQG IRUZDUGHG WR WKH 'HSDUWPHQW RI SRZHU RI HOHFWLRQ >XQGHU DQ LQVXUDQFH SROLF\@ EXW DQ\ 9HWHUDQV$IIDLUVl,G HOHFWLRQRQKLVEHKDOIVKRXOGEHH[HUFLVHGE\WKHFRXUWl,Q *UDKOY'DYLV 6:G 7HQQ  WKH 1HLWKHUWKHVWDWXWHQRUWKHUHJXODWLRQVKRZHYHUDGGUHVVD 7HQQHVVHH6XSUHPH&RXUWGLVFXVVHGWKHILGXFLDU\GXWLHVRID FKDQJH RI EHQHILFLDU\ PDGH E\ D JXDUGLDQ RQ EHKDOI RI DQ FRQVHUYDWRU  LQFRPSHWHQWLQVXUHG,Q5RHFNHUY8QLWHG6WDWHV )G  WK&LU  WKHJXDUGLDQRIDQLQFRPSHWHQWLQVXUHG 7KHSXUSRVHRIDSSRLQWLQJDFRQVHUYDWRULVmWRSUHVHUYH ZLWKVWDWHFRXUWDXWKRUL]DWLRQFKDQJHGWKHEHQHILFLDU\RQDQ WKHHVWDWHRIDQLQFRPSHWHQWRUGLVDEOHGSHUVRQl>$@ 16/, SROLF\  7KH RULJLQDO EHQHILFLDU\ FKDOOHQJHG WKH FRQVHUYDWRUmVKDOOKDYHWKHVDPHGXWLHVDQGSRZHUVDVD HIIHFWLYHQHVVRIWKHFKDQJHLQEHQHILFLDU\EHFDXVHLWZDVQRW JXDUGLDQ RI D PLQRU DQG DOO ODZV UHODWHG WR WKH VLJQHGE\WKHLQVXUHG7KH)LIWK&LUFXLWQRWHGWKDWWKHVWDWXWH JXDUGLDQVKLS RI D PLQRU VKDOO EH DSSOLFDEOH WR D GRHVQRWSURYLGHIRUDQLQVXUHGZKREHFRPHVLQFRPSHWHQW FRQVHUYDWRUl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sRQHV7HQQ6:G   $ WRFKDQJHWKHEHQHILFLDU\&RQJUHVVRSHUDWHGmDJDLQVWWKH FRQVHUYDWRU VKRXOG QRW FKDQJH WKH FKDUDFWHU RI WKH EDFNJURXQG    RI >WKH@ EDVLF SULQFLSOHl LQ RXU FRQVHUYDWHHj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j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jV JXDUGLDQ ZDV DSSRLQWHG XQGHU WKH 8QLIRUP IHGHUDO SURJUDP EXW DSSOLFDWLRQ RI IHGHUDO ODZ ZRXOG 9HWHUDQjV *XDUGLDQVKLS /DZ 7 &  $  †    /LNH GLVUXSWVWDWHDJHQFLHVVWDWHODZVKRXOGEHDSSOLHG5)& D FRQVHUYDWRU D JXDUGLDQ RI DQ LQFRPSHWHQW YHWHUDQ LV HPSRZHUHG ZLWK WKH VDPH GXWLHV DV D JXDUGLDQ RI D PLQRU 5\PHU Y 6PLWK  6:G Y%HDYHU&RXQW\ 866&W     7HQQ &W $SS    /(G%XWZKHUHWKHVWDWHODZFRQIOLFWVZLWKWKH  8QLWHG6WDWHVY6DQGHUVHWDO 1R 1R 8QLWHG6WDWHVY6DQGHUVHWDO 

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jV EHQHILFLDU\ ZDV LQHIIHFWLYH EHFDXVH WKH LQVXUHG ODFNHG WKH GLVFKDUJH RI KLV GXWLHV WR KLV ZDUG  $ IHGHUDO FRXUW UHTXLVLWH PHQWDO FDSDFLW\  7KH 7HQWK &LUFXLW QRWHG WKDW ZRXOG QRW IDVKLRQ D IHGHUDO UXOH JRYHUQLQJ WKH PHQWDOFDSDFLW\ZDVQRWDGGUHVVHGLQWKHIHGHUDOVWDWXWH,W DSSRLQWPHQWRIJXDUGLDQVIRULQFRPSHWHQWV,WZRXOG WKHUHIRUHORRNHGDWIHGHUDOFRXUWGHFLVLRQVXQGHURWKHUIHGHUDO EHHTXDOO\LQFRQJUXRXVIRUDIHGHUDOFRXUWWRDWWHPSWWR VWDWXWHVWRGHWHUPLQHmJDSILOOLQJIHGHUDOODZlRQWKHLVVXHRI GHYHORS VWDQGDUGV IRU WKH PDQDJHPHQW RI DQ PHQWDOFDSDFLW\,GDW LQFRPSHWHQWjVHVWDWH 5LGJZD\DQG5LFHDGGUHVVHGWKHLQVXUHGYHWHUDQjVULJKWRU 7R DSSO\ VWDWH ODZ WR WKLV TXHVWLRQ GRHV QRW RIIHQG DELOLW\WRFKDQJHWKHEHQHILFLDU\XQGHUWKHDSSOLFDEOHIHGHUDO FRQJUHVVLRQDO SROLF\  +HUH WKHUH LV QR RYHUSRZHULQJ VWDWXWH  %\ FRQWUDVW LQ WKLV FDVH WKH YHWHUDQjV LQDELOLW\ WR UHDVRQ LQ IDYRU RI D XQLIRUP UXOH RI QDWLRQZLGH FKDQJH WKH EHQHILFLDU\ LV XQGLVSXWHG  +LV LQFDSDFLW\ ZDV DSSOLFDWLRQ  ,Q IDFW WR DSSO\ D IHGHUDO VWDQGDUG ZRXOG HVWDEOLVKHGLQVWDWHFRXUWDQGLVQRWFKDOOHQJHGE\DQ\SDUW\ XQQHFHVVDULO\ FRPSOLFDWH WKH GXWLHV RI JXDUGLDQV ZKR ,QVWHDG WKH LVVXH LV WKH SRZHU RI D JXDUGLDQ WR FKDQJH D ZRXOGKDYHWRDGKHUHWRRQHVWDQGDUGZKHQGHDOLQJZLWK EHQHILFLDU\ZKHQDQLQVXUHGYHWHUDQLVXQDEOHWRH[HUFLVHWKDW PRVWRIDYHWHUDQjVDIIDLUVEXWWRDQRWKHUZKHQGHDOLQJ ULJKWEHFDXVHRIKLVLQFRPSHWHQF\*XDUGLDQVKLSVDQGWKH ZLWKKLVJRYHUQPHQWLQVXUDQFHSROLFLHV GXWLHVDQGSRZHUVRIJXDUGLDQVDUHWUDGLWLRQDOO\PDWWHUVRI VWDWHODZ6HH.LQJY%HDYHUV)G WK ,G DW   6HH DOVR 0XUUD\ Y 8QLWHG 6WDWHV  ) &LU  7KHUHLVQRmJDSILOOLQJlIHGHUDOODZRQWKHSRZHU 6XSS  ('0LFK  DIIj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j*URXS/LIH,QV)G WK&LU  DUHGLVWLQJXLVKDEOH,Q5LGJZD\WKH6XSUHPH&RXUW ,Q)ROWVYsRQHV6:G 7HQQ  WKH KHOGWKDWDVWDWHFRXUWFRXOGQRWHVWDEOLVKDFRQVWUXFWLYHWUXVW 7HQQHVVHH6XSUHPH&RXUWFRQVLGHUHGZKHWKHUDQLQFRPSHWHQW IRUWKHSURFHHGVXQGHUDQLQVXUDQFHSROLF\LVVXHGXQGHUWKH SHUVRQFRXOGH[HUFLVHWKHUHVHUYHGSRZHUVXQGHUDQLQVXUDQFH 6HUYLFHPHQjV*URXS/LIH,QVXUDQFH$FW7KHLQVXUHGYHWHUDQ SROLF\ WR FKDQJH WKH EHQHILFLDU\  7KH FRXUW IRXQG   m$Q KDGQRWPDGHKLVFKLOGUHQWKHEHQHILFLDULHVDVRUGHUHGXQGHU

Reference

Status
Published