A Nevada woman who was once part of the largest mortgage fraud schemes in the history of the state will no longer forfeit $ 107 million after a federal court of appeals overturned part of her penalty because it violated the Eighth Amendment, which prohibits the government from imposing “excessive fines” and “cruel and unusual punishments.” In 2012, Melissa Beecroft was found guilty and sentenced to three years in federal prison for her role in a Las Vegas mortgage fraud scheme that caused more than $ 52 million in losses to federally insured banks.
