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Dutch Supreme Court: Fortis was mismanaged
Legal News |
2013/12/09 22:30
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The Netherlands' Supreme Court has upheld rulings that the now-defunct Belgian bank Fortis NV was mismanaged from September 2007 to September 2008, and its then-management board can be held accountable.
Friday's ruling opens the door for investor claims against former CEO Jean-Paul Votron, among others, though not former supervisory Chairman Count Maurice Lippens, whom lower courts found was too far removed from decision making to be held liable.
Fortis, Royal Bank of Scotland and Spain's Santander bought Dutch bank ABN Amro in a hostile takeover in 2007, nominally the largest in banking history.
Fortis agreed to buy ABN's Dutch operations for 24 billion euros in its part of the deal but was unable to finance the buy — which represented around half of its own total size — and eventually spiraled toward bankruptcy. The Dutch state ultimately nationalized all Fortis-ABN operations in the Netherlands in 2008 to avoid a meltdown of the country's financial system. The rescue has cost taxpayers at least 32 billion euros.
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Amanda Knox appeals slander case to European court
Legal News |
2013/11/29 18:34
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Lawyers for Amanda Knox filed an appeal of her slander conviction in Italy with the European Court of Human Rights, as her third murder trial was underway in Florence.
The slander conviction was based on statements Knox made to police in November 2007 when she was being questioned about the slaying of her British roommate, Meredith Kercher, in the house they shared in Perugia.
Knox says she was coerced into making false statements blaming the slaying on bar owner Patrick Lumumba.
"The interrogation took place in a language I barely spoke, without a lawyer present, and without the police informing me that I was a suspect in Meredith's murder, which was a violation of my human rights," Knox said in a statement released Monday as the appeal was filed.
Knox was convicted of slander at her first trial in December 2009. That conviction was upheld during the appeal that resulted in her 2011 murder acquittal.
Knox has returned to Seattle, where she is a student at the University of Washington. She is not attending the third trial being held in an appeals court in Florence.
The European Court for Human Rights is an international court in Strasbourg, France, that oversees the European Convention on Human Rights. |
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Once notable NJ lawyer given life sentence
Legal News |
2013/09/25 18:53
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A defense attorney who once had a roster of celebrity clients and boasted of having tried hundreds of cases in federal court was sentenced there on Monday to life in prison without parole after his conviction on nearly two dozen counts including murder conspiracy and racketeering.
Paul Bergrin, in custody since his 2009 arrest, wore khaki prison scrubs and showed little reaction as a judge read what amounted to several life sentences Monday afternoon in a federal courtroom in Newark.
The 57-year-old former federal prosecutor once represented an Army reservist charged in the Abu Ghraib prison scandal in Iraq and celebrities such as Queen Latifah, the rapper Lil' Kim and the group Naughty By Nature. He also represented reputed gang members and alleged drug kingpins from his offices in Newark.
Bergrin, formerly of Nutley, and several associates were arrested and charged in May 2009 with running his law business as a criminal enterprise. The U.S. attorney's office charged Bergrin with more than 30 counts including racketeering, setting up the murder of a witness, money laundering and drug offenses. His first trial, in which Bergrin represented himself, ended in a hung jury two years ago.
A second trial resulted in his conviction in March on 23 counts related to operating what prosecutors said was a racketeering enterprise that engaged in drug trafficking, prostitution, bribery, plotting to murder witnesses and money laundering. |
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Ex-bank executive pleads guilty in Olympus fraud
Legal News |
2013/09/23 18:40
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A former bank vice president pleaded guilty Wednesday to a fraud charge, admitting he helped former Olympus Corp. executives carry out a fraud involving several hundred million dollars that deceived investors into thinking the company was firmer financially than it was.
Chan Ming Fon, 50, pleaded guilty in Manhattan to federal conspiracy to commit wire fraud. He said he assisted the executives as they misrepresented the financial condition of the maker of medical devices and cameras from at least 2004 through 2010 while he worked at two international financial institutions.
"I acknowledge that my conduct was wrong," Chan told U.S. District Judge Laura Taylor Swain.
Chan, a Taiwanese citizen and Singapore resident, was arrested in December in Los Angeles. He was expected to remain in the Los Angeles area after posting $1.5 million cash as part of his $3 million bail.
Prosecutors said Chan managed a fund that held a bond investment portfolio belonging to Olympus. The government said Olympus executives directed Chan to transfer the portfolio to an Olympus-controlled entity, making the company appear stronger financially than it was.
In a plea deal with the government that requires his cooperation, Chan admitted that he provided false and misleading information about the investment portfolio to Olympus's auditor, misleading investors into thinking the portfolio remained in safe and secure bonds. |
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NY man pleads guilty in Paula Deen extortion case
Legal News |
2013/08/12 22:09
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A New York man pleaded guilty in federal court Friday to trying to extort $200,000 from Paula Deen by threatening to reveal damaging information about the embattled celebrity cook if she didn't pay him to stay quiet.
"I had, I guess, some bad judgment," 62-year-old Thomas George Paculis told a U.S. District Court judge in Savannah.
"I do take responsibility for what I have done."Paculis, of Newfield, acknowledged sending emails to Deen's attorney offering to trade his silence for cash in June. It came a few days after documents became public that revealed the former Food Network star had said under oath that she used racial slurs in the past.
As Deen's culinary empire began to crumble, Paculis claimed he could reveal things that would bring her "financial hardship and even ruin," according to one email that invited Deen's lawyer to "make me an offer I can't refuse."
Neither Paculis nor federal authorities have revealed what sort of dirt the defendant claimed he could dish up regarding Deen or if he truly had any at all. He owned a restaurant in Savannah in the 1990s, but Deen told the FBI she didn't recognize his name or his face. |
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Court: $1M coverage for Conn. fire victim families
Legal News |
2013/06/11 16:04
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Families suing the operator of a Hartford nursing home where 16 patients died in a 2003 fire suffered a setback Monday, when the Connecticut Supreme Court ruled that the home's insurance coverage was $1 million instead of the $10 million claimed by the victims' relatives.
The justices' 3-2 decision reversed a lower court judge's interpretation of Greenwood Health Center's insurance policy in favor of the families. The high court instead found in favor of Boston-based Lexington Insurance Co., a subsidiary of American International Group Inc.
"It just seems completely inadequate," Van Starkweather, an attorney for one victim's family, said about the lower coverage figure. "I'm disappointed. It was a close decision. Three justices went with AIG. Two justices went with the victims."
A lawyer for Lexington Insurance declined to comment Monday.
The fire at Greenwood Health Center on Feb. 26, 2003, broke out after psychiatric patient Leslie Andino set her bed on fire while flicking a cigarette lighter. Officials at the time said it was the 10th deadliest nursing home fire in U.S. history. Andino was charged with 16 counts of arson murder, but was found incompetent to stand trial and committed to a psychiatric hospital.
Relatives of 13 of the 16 victims sued the nursing home's operator for cash damages, saying it failed to adequately supervise Andino. Hartford Superior Court Judge Marshall K. Berger Jr. ruled in 2009 that Greenwood's insurance policy with Lexington provided $250,000 in coverage for each plaintiff and the policy's maximum coverage was $10 million.
But Lexington Insurance appealed Berger's decision, saying that the $10 million was the total coverage for all seven nursing homes run by Greenwood's operator and that each home was insured up to $1 million.
In a decision written by Chief Justice Chase T. Rogers, the Supreme Court's majority found that each plaintiff actually was eligible for up to $500,000 from the insurance policy if they won their lawsuit, but that the policy's total coverage was limited to $1 million. |
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Court: Calif. erred in new lethal injection regs
Legal News |
2013/06/01 18:05
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Executions in California will remain suspended after a state appeals court ruled that corrections officials made several "substantial" procedural errors when they adopted new lethal injection rules.
The 1st District Court of Appeals said the California Department of Corrections and Rehabilitation failed to explain, as required by state law, why it was switching from a three-drug injection method to a single drug.
The court's opinion, which affirmed a lower court ruling, also said the agency misled the public by not providing the documents and information it used to reach its decision.
Corrections spokeswoman Deborah Hoffman said in an email that the agency was reviewing the ruling.
"In the meantime, at the governor's direction, CDCR is continuing to develop proposed regulations for a single-drug protocol in order to ensure that California's laws on capital punishment are upheld," Hoffman said.
California has not executed an inmate since 2006, when a federal judge halted the practice, finding that the three-drug mixture amounted to cruel and unusual punishment. The state was ordered to redo its capital punishment system.
Since then, California has built a new death chamber at San Quentin State Prison and trained a new team to carry out executions. |
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