Cases | Locklear v. State, 692 A.2d 898 (Del. 1997) | 2018
The defendant securities broker pled guilty to ten counts of felony theft, arising from theft from investors. The defendant was ordered to pay restitution to enumerated victims who suffered financial losses as a result of his crimes. The victims also signed a consent order with the defendant’s brokerage firm in which the firm paid them restitution and they agreed to release the firm from liability. As a result of the payments, some victims were completely reimbursed while others were partially reimbursed. The defendant applied for modification of the order to reflect payments made by the firm. The trial court denied the application, and the defendant appealed. The court held that the order should be modified to reflect a credit for compensation paid to the victims. Third-party payments received by a victim must be credited in the same manner as compensation received by the victim from the defendant through a civil action. The court also directed the trial court to credit the restitution order contemporaneously with the firm’s payments to the victims. The court did not address the merits of the State’s contention that the firm should be reimbursed by the defendant for its payments.
see In re Locklear, 710 A.2d 218, 1998 Del. LEXIS 154 (Del. 1998)