State v. Oxborrow

723 P.2d 1123 (1986)

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Nature of the Case

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Facts

Oxborrow (D) initiated a pyramid scheme that raked in over 58 million dollars with the promise of returns of up to 2% per week on commodity investments. Eventually, the scheme fell apart, and over $13 million was unaccounted for and over 500 investors lost everything they put into the scheme. D led the high life during these episodes and bilked his customers by displaying large pictures of Jesus and other Christian items on prominent display throughout his home and office. D also purchased two Rolls Royce cars, a Cadillac limo, several airplanes, and an oceanside resort cabin, decorated his office and home with fine leather furniture, expensive antiques, and imported Chinese rugs. A cease and desist order was issued, but D ignored that and took another $1 million. D hired an attorney and pled guilty to theft and willful violation of the cease and desist order. Under SRA, the crimes carried a 90-day and 12 months limit and the statutory maximum of 10 years in each case. D had no prior criminal record. The Prosecutor recommended concurrent 10 year and 5-year sentences. The trial judge ordered consecutive 10 and 5-year sentences. D appealed.