They believe that they can nail Yeager on fraud that lead to the 2001 collapse of what was once the nation’s seventh-largest company. They are bringing a 52 page brief to the Supreme Court to prove their position.
What is at stake is the alleged insider trading and money laundering that Yeager was reindicted on after a mistrial in 2005. Those 13 counts are standing before him and if the Court says it’s okay to go to trial he could face a long haul in a prison cell.
“Double jeopardy says you can’t be tried twice for the same offense,” said Samuel Buffone, one of Yeager’s attorneys. “Collateral estoppel addresses a retrial of the facts. So if in a murder a jury determined Mr. X wasn’t in possession of a gun on that day, you can’t retry him for shooting someone else with that same gun on that day.”
Buffone will be telling the court on Monday that because the jury rejected the charges his client should not be retried on them.
That’s not going to work says the prosecution.
“But, if the jury in fact acquitted because it determined that (Yeager) did not possess insider information, and that determination also requires acquittal on the insider trading and money laundering counts, then a rational jury should have acquitted on those counts as well,” prosecutors wrote.
The Supreme court will have to decide if a hung jury is or is not the final answer when it comes to double jeopardy.
“What (Buffone) is saying is the government was wrong to say it can retry (Yeager) on the hung counts because the acquittals say the theory the government put forward (on the new charges) is dead … ,” Cynthia M. Monaco, a white collar criminal defense attorney with the New York firm of Buchanan, Ingersoll & Rooney said.