Appellate Court Dismisses Wire and Fraud Counts in International Arms Sale for Failure of the U.S. to Establish its Property Rights

On April 27, 1988, the U.S. Court of Appeals for the Second Circuit unanimously affirmed the dismissal, by trial judge Leonard B. Sand, of wire and mail fraud counts of an indictment for failure to allege that the U.S. lost money or property and held that the U.S. interest in regulating international arms sales is not a property right.