The trial of Richard Jewell, who ran one of the largest mortgage fraud rings in the U.S. from 1999 to 2008, is slated to start on Thursday.
A judge in New York ruled that Jewel and his wife, Linda, will be able to present evidence about the alleged scheme to show how it was supposed to work.
The case will be heard by a panel of judges, who have yet to decide on whether the case should be dismissed.
Jewell, a former vice president of the UBS bank, was found guilty last year of conspiracy to commit money laundering, wire fraud, and identity theft.
He faces up to 40 years in prison.
After a jury found Jewell guilty, the case received nationwide attention, including a $2 billion settlement with banks.
Prosecutors say that the scheme was a huge success, with some banks paying out hundreds of millions of dollars to homeowners.
The Justice Department says it has identified more than 6,000 mortgage lenders who allegedly helped the fraudsters and that the frauds went on for years, including in New Jersey, Florida, and Florida.
“These were not small crimes.
They were major crimes,” Attorney General Loretta Lynch said in March.
“It was a financial crime.”
A former New York City banker, Jewell was arrested in Florida in 2006 for allegedly running a money-laundering ring.
He was sentenced to more than a decade in prison and is still serving that sentence.
In a statement, Jewels attorney, Mark W. Smith, said he believes that the case will ultimately end up being a success for the people of New York.
“The truth will come out eventually, and we will see the truth in the trial.
But we will not have lost,” he said.