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The Second Chance Act of 2007, Pub. L. No. 110-199, 122 Stat. 657 (2008), provides opportunities for white-collar offenders to reduce the amount of time spent in prison. While the Act's primary purpose is to fund prison-based rehabilitation initiatives, it also:
White-collar offenders, who tend to be older and less likely to reoffend, may benefit most from these changes. The Second Chance Act offers a new tool for undoing the harsh sentences for economic crimes imposed under the U.S. Sentencing Guidelines. By affording the Bureau of Prisons (BOP) additional discretion over the early release of nonviolent offenders to home confinement and all inmates to community confinement, the Act creates a method for ameliorating draconian Guidelines sentences that have already been imposed. And by emphasizing the sentencing goals of rehabilitation and harm reduction, rather than retribution and deterrence, the Act can also be used at sentencings to show that Congress rejects the Guidelines' uniformly severe sentences for economic crimes.
An Early-Release Experiment
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The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
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