United States v. Peter M. Parrott, United States of America v. Peter M. Parrott

Following sentencing upon a guilty plea to charges of securities fraud and mail fraud, Parrott filed a motion under 28 U.S.C. § 2255 challenging the terms of his sentence. The district court reduced the amount of restitution and left all other terms of Par-rott’s sentence unchanged. In 92-55305, the United States appeals the reduction in the amount of restitution and in 92-55410, Par-rott appeals the denial of his motion with respect to other terms of his sentence.

I.

In 1989, Parrott pled guilty to two counts, of a seventeen count indictment. The indictment alleged that, from 1985 to 1987, Parrott abused his position as a stockbroker for E.F. Hutton to liquidate a total of approximately $350,000 from an account belonging to Dray-er, who was related to Parrott through marriage. Counts 1 through 10 alleged separate purchases or sales of securities in violation of 15 U.S.C. §§ 78j(b), 78ff. Counts 11 through 17 alleged separate acts of mail fraud used by Parrott to conceal the liquidation of Dray-er’s account, in violation of 18 U.S.C. § 1341 .

Count one of the indictment, to which Par-rott pled guilty, alleged that Parrott illegally sold $103,400 worth of securities from…