United States v. Steven M. Gardner, United States of America v. Edward L. Morris

WOLLMAN, Circuit Judge.

Steven M. Gardner and Edward L. Morris appeal from the district court’s 1 denial of their motions to dismiss on double jeopardy grounds an indictment alleging conspiracy to defraud and fraud. We affirm.

I

In the mid-1980s, Germania Bank, a St. Louis area savings and loan association, began to suffer losses on its real estate loan portfolio. To increase its regulatory capital, Germania sought approval for a $10,000,000 public offering of uninsured, subordinated capital notes, commonly referred to as Schnotes, and a private offering of $7,500,000 of convertible subordinated…