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Bernard Madoff brother to face victims in NY court
Legal Interview |
2012/12/20 15:11
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The suspense surrounding the sentencing of the brother of Ponzi king Bernard Madoff will largely be absent because a plea agreement makes a 10-year prison term all but certain.
But drama will likely fill the courtroom Thursday in U.S. District Court in Manhattan anyway as 67-year-old Peter Madoff faces some of the heartbroken investors who lost their savings when the unprecedented fraud was revealed four years ago this month.
When he pleaded guilty to conspiracy and falsifying books and records of an investment adviser, the former senior compliance officer at the Madoff private investment business said he was "shocked and devastated" when his brother revealed several days before he surrendered that thousands of accounts supposedly worth $65 billion were worthless. Investigators say Bernard Madoff had distributed most of the $20 billion he took in over several decades to other investors while investing none of it in the markets as he had promised to do.
A court-appointed monitor has so far recovered nearly $9.3 billion that was lost, mostly by clawing back money from investors who received large payouts along the way. Most of the money has not yet been distributed. A small part of the recovery has resulted from the sale of numerous Madoff family assets, including the toys of the wealthy — multi-million dollar homes, fancy cars, yachts and art.
In a pre-sentence brief, attorney John Wing said his client was subject to a "draconian forfeiture order that in one stroke stripped him of all existing assets, his home, his pension, his savings, his personal property, etc. and of all future assets and income should he even have the opportunity to earn any income after serving his prison sentence." He said Peter Madoff will be left a "jobless pariah" when he gets out of prison. |
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Lawyer questions handling of terror suspect
Headline Legal News |
2012/12/10 15:05
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The attorney of a Southern California terror suspect is questioning authorities' handling of his client, who had injuries to his face and head when he was turned over to the FBI by U.S. military officials in Afghanistan.
When Sohiel Omar Kabir arrived in California last week he had a broken facial bone, lacerations and was suffering from memory loss, according to Deputy Federal Public Defender Jeffrey Aaron.
"We think a lot of the injuries occurred during his arrest," Aaron told the Long Beach Press Telegram. "We're investigating what happened and why he wasn't hospitalized."
Kabir, 34, was captured Nov. 17 by U.S. special forces in Kabul, where he was staying with family members, and held for two weeks by the military before being turned over to the FBI.
FBI spokesman Laura Eimiller said Kabir suffered "combat-related injuries" during his capture. The injuries were treated by American medical personnel and he was cleared to be taken back to the U.S.
Kabir, a naturalized U.S. citizen, is the suspected ringleader of a plot to kill Americans and bomb military bases overseas. |
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Court rejects Verizon challenge to roaming rule
Opinions |
2012/12/04 09:22
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A federal appeals court has rejected a Verizon challenge to a Federal Communications Commission rule aimed at increasing competition in wireless broadband service. The three-judge panel ruled Tuesday that the FCC had the legal authority to issue the "data roaming rule." The rule requires big wireless carriers to open their data networks to smaller regional operators in places where they don't have their own systems. The large carriers must offer network access at reasonable prices. Verizon has called the rule "unwarranted government intervention," and challenged it on several grounds — including that the FCC lacked the statutory authority to issue it. But appeals court judges Thomas Griffith, David S. Tatel and Merrick B. Garland disagreed. Griffith was appointed by President George W. Bush; the other two by President Bill Clinton. |
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Court won't hear appeal in witness tampering case
Court News |
2012/11/15 14:09
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The Supreme Court won't review a decision to throw out sanctions and a $600,000 award against Miami prosecutors in a witness-tampering investigation where members of the defense team had allegedly been secretly recorded.
The high court on Tuesday refused to hear an appeal from Dr. Ali Shaygan, who has been acquitted of 141 counts of illegally prescribing painkillers. A federal judge said publicly that three prosecutors and a Drug Enforcement Administration agent acted "vexatiously and in bad faith" for failing to obtain permission before authorizing two witnesses to record conversations with Shaygan's attorney and his investigator.
But a federal appeals court threw out the sanction and award, saying the judge violated the prosecutors' due process rights in 2009 when he issued a public reprimand for their alleged misconduct. |
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Chevron sued in Argentina over Ecuadorean spills
Court News |
2012/11/06 11:09
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Lawyers for Amazonian Indians are seeking the seizure of $2 billion of Chevron Corp.'s assets in Argentina as they try to collect an $18.7 billion environmental judgment won in Ecuador last year.
Argentine lawyer Enrique Bruchou said Thursday that his seizure request should send a strong signal to foreign investors that they must apply the same environmental standards wherever they do business. Similar lawsuits were filed this year in Canada and Brazil.
"We will win this case. And it's going to set an example for the world that we in Latin America have grown up now and that we need to be treated as equals," Bruchou said.
Chevron is refusing to pay, saying fraud marked the trial and that the Texaco Petroleum Co. mitigated the environmental damage long before it became a Chevron subsidiary in 2001.
"The Ecuador judgment is a product of bribery, fraud, and it is illegitimate. The company does not believe that the Ecuador judgment is enforceable in any court that observes the rule of law," the San Ramon, Calif.-based oil giant said in a statement. |
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