USA V. YAFA
Split Score
What is a Split Score?
This score (0-100) indicates how likely this case is to be reviewed by the Supreme Court based on:
Case Summary
Disposition
Affirmed
The Ninth Circuit affirmed the sentences of brothers Joshua and Jamie Yafa for securities-fraud convictions, holding that district courts may rely on U.S.S.G. § 2B1.1 Application Note 3(B) to use a defendant’s gain as a proxy for loss when actual loss cannot reasonably be determined. Applying Kisor v. Wilkie, the panel found the term “loss” genuinely ambiguous, deemed the commentary’s interpretation reasonable, and concluded it merited controlling deference.
Circuit Split Identified
Legal Issue
Whether the term “loss” in U.S.S.G. § 2B1.1 is ambiguous such that courts should defer to Application Note 3(B) and use gain as an alternative measure of loss.
Circuit Positions
Term 'loss' is ambiguous; defer to Application Note 3(B) and allow gain as alternative loss measure.
Ordinary meaning of 'loss' controls; do not defer to Application Note 3(B); rely solely on actual loss.
Conflict Summary
The Sixth, Fourth, and Ninth Circuits hold that 'loss' is genuinely ambiguous and defer to Application Note 3(B), allowing gain to substitute for loss when loss is hard to quantify. The Third Circuit holds that 'loss' has an ordinary, unambiguous meaning and rejects deference to the commentary, limiting loss calculations to actual loss.