Opinion ID: 2657820
Heading Depth: 2
Heading Rank: 1

Heading: Counts Eight and Nine

Text: We recently confirmed that § 982(a) of the criminal forfeiture statute does not permit a defendant to offset loan proceeds that have been repaid. See Peters, 732 F.3d at 102 (gross receipts, rather than profits, are the proper measure of criminal forfeiture); see also United States v. Newman, 659 F.3d 1235, 1244 (9th Cir. 2011) (“For purposes of criminal forfeiture, the ‘proceeds’ of a fraudulently obtained loan equal the amount of the loan.”). The District Court did not, therefore, err by ordering forfeiture of the full amount of the loans fraudulently obtained in connection with Counts Eight and Nine, totaling $580,100, without regard to whether Annabi repaid any portion of those loans.