Looking at the facts in the article, while ignoring the “SHOCKING!!!ALARMING!!!” hysteria:
First, Elrod claims that securities fraud cases must be heard by district courts because these courts can conduct jury trials, while ALJs cannot.
The 6th amendment:
In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the State and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the Assistance of Counsel for his defense.
https://en.wikipedia.org/wiki/United_States_Bill_of_Rights
In this case, the issue is fraud. Fraud is a crime. Ask Bernie Maddoff.
Federal Securities Fraud
Under the Securities Act of 1933 and the Securities Exchange Act of 1934, Securities Fraud is defined as willfully engaging in deceptive practices intended to manipulate financial markets or induce investors to make financial investment decisions based on deceptive or false information.
Under federal law, the crime of Securities Fraud is a Class C felony, punishable by up to twenty years in prison, three years of supervised release, and $5 million in fines. Additionally, disgorgement of any profits will be ordered and any property obtained from the proceeds of the offense can be confiscated.
https://www.richardhornsby.com/federal/crimes/securities-fra…
Therefore, I think the accused has a point.
(sweeping away more SHOCKING!!!ALARMING!!! hysteria in the article)
So, reassign the ALJs to the appropriate district courts which have juries, or provide juries for the ALJs. Either would satisfy the Constitution, and there would not be the apocalypse the article has an apoplectic fit about. The ALJs may not like losing their cush lifetime job by going to District Court, but, if it’s unconstitutional, they really don’t have a choice.
Requiring a jury for every proceeding would raise costs, and result in a heck of a lot more people pulling jury duty, but, that is what the Constitution requires.
Steve