Court grants Ruffatto more time in his bid to avoid prison
It could cost him millions — twice what the government claims he stole from a federal grant to study underground carbon storage in Wyoming’s Powder River Basin — but Two Elk developer Michael J. Ruffatto is hoping a large cash settlement with the government will keep him out of prison.
On Oct. 19 U.S. District Judge Joy Flowers Conti granted Ruffatto the fifth delay in sentencing since he pleaded guilty to criminal fraud in October 2016. The sentencing date was changed to Jan. 31, 2018 to give Ruffatto more time to sell his interest in two California power plants in order to come up with the money he needs.
In their latest filing, Ruffatto’s attorneys argued that the proposed cash settlement — including $5.7 million in restitution and an expected equal amount in civil penalties — “will have a material impact upon the court’s determination of the sentence to be imposed in this case.” In earlier filings, the attorneys argued that Ruffatto, 71, was in such poor health that he could not withstand incarceration.
Federal prosecutors again agreed to the delay, but have consistently argued that Ruffatto should also be sentenced to at least three years in federal prison for his crime. Calling his actions “calculated” and “driven by greed” the prosecutors said Ruffatto spent most of the 2009-2010 federal grant on personal luxuries including a new Mercedes, jewelry, oriental carpets and foreign travel.
Read more: http://www.wyofile.com/court-grants-ruffatto-time-bid-avoid-prison/