Winans' conviction for violating securities law was affirmed by the U.S. Supreme Court in 1987 as Carpenter v. United States (1987) by a rare 4–4 deadlocked vote. However, the Supreme Court unanimously affirmed his convictions for committing federal mail and wire fraud.
The U.S. Supreme Court upheld Winans' conviction for securities law violations in 1987 through Carpenter v. United States (1987), a 4–4 decision. Nevertheless, the court unanimously confirmed his convictions for federal mail and wire fraud offenses.