United States v. Jon D. Smithson and Billy D. Pyron

EDITH H. JONES, Circuit Judge:

Billy D. Pyron and Jon D. Smithson were convicted of fraudulently concealing two real estate option contracts from the bankruptcy court in connection with Pyron’s chapter 7 liquidation case. Pyron and Smithson appeal portions of the jury instructions and the calculation of their sentences. We affirm the convictions but vacate the sentences and restitution order because the district court incorrectly valued the option contracts at the date of bankruptcy in calculating the loss occasioned by appellants’ crime. U.S.S.G. § 2F1.1.

DISCUSSION

Billy Pyron is a real estate…