The U.S. Supreme Court on Tuesday declined to hear a bid by a New York lawyer to restrict how much money federal prosecutors can take from his 401(k) retirement accounts to compensate fraud victims after he was convicted in a scheme involving former pharmaceutical executive Martin Shkreli.
that prosecutors could tap into two of the attorney's accounts to help satisfy a $10.4 million judgment owed to victims. Greebel, who was outside counsel for Shkreli-founded Retrophin Inc, was sentenced in 2018 to 18 months in prison for helping Shkreli bilk investors at the drug company now known as Travere Therapeutics IncProsecutors have sought to garnish $921,000 from Greebel's retirement accounts to help pay back victims of the fraud.
In their petition for the Supreme Court to hear Greebel's appeal, they said that this law "provides that no more than 25% of an individual's 'earnings' may be garnished in most federal and state garnishment proceedings" including those involving mandatory victim restitution.that Greebel is not an "honest debtor" subject to the Consumer Credit Protection Act but instead "a convicted criminal who owes over $10 million dollars to his victims.
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