Constantinescu’s counsel asked the court to dismiss the final count of the indictment, which accuses him of “engaging in monetary transactions in property derived from specified unlawful activity.”
Matthew Aaron Ford, his attorney, told the court that the portions of the U.S. Code that the count references, Title 18 Sections 1349 and 1957, don’t specifically list securities fraud as a crime.
“It’s clear from the plain language of the statute … it’s not intended to be covered,” Ford said.
