Wachtell, Lipton, Rosen & Katz litigation partner John Savarese represented Zurich-based banking giant UBS as it entered into a deferred prosecution agreement on Wednesday with federal prosecutors that ends an investigation into whether UBS helped U.S. clients avoid paying taxes.
Under the terms of its agreement with the government, UBS will pay a $780 million fine and disclose the names of certain account holders to the Internal Revenue Service. While the government's indictment states its interest in the identities of between 17,000 and 20,000 UBS cross-border clients, the deferred prosecution agreement does not specify how many client names will be turned over to U.S. authorities.
UBS received permission from the Swiss Financial Markets Supervisory Authority (FINMA) to move forward with the agreement, which has been approved by U.S. District Judge James Cohn in Fort Lauderdale, Fla.
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Posted by Personal Injury Lawyers in Phoenix, Arizona
Thursday, February 19, 2009
Thursday, February 12, 2009
Judges plead guilty in sending kids to lockup
Pair accused of taking $2.6 million in payoff to put away young offenders
SCRANTON, Pa. - Two Pennsylvania judges charged with taking millions of dollars in kickbacks to send youth offenders to privately run detention centers pleaded guilty to fraud Thursday in one of the most stunning cases of judicial corruption on record.
Prosecutors allege Luzerne County Judges Mark Ciavarella and Michael Conahan took $2.6 million in payoffs to put juvenile offenders in lockups run by PA Child Care LLC and a sister company, possibly tainting the convictions of thousands of juvenile offenders.
The judges pleaded guilty in federal court in Scranton to honest services fraud and tax fraud. Their plea agreements call for sentences of more than seven years in prison. They were permitted to remain free pending sentencing.
Read full story MSNBC
Posted by Auto Accident Lawyers in Phoenix, Arizona
SCRANTON, Pa. - Two Pennsylvania judges charged with taking millions of dollars in kickbacks to send youth offenders to privately run detention centers pleaded guilty to fraud Thursday in one of the most stunning cases of judicial corruption on record.
Prosecutors allege Luzerne County Judges Mark Ciavarella and Michael Conahan took $2.6 million in payoffs to put juvenile offenders in lockups run by PA Child Care LLC and a sister company, possibly tainting the convictions of thousands of juvenile offenders.
The judges pleaded guilty in federal court in Scranton to honest services fraud and tax fraud. Their plea agreements call for sentences of more than seven years in prison. They were permitted to remain free pending sentencing.
Read full story MSNBC
Posted by Auto Accident Lawyers in Phoenix, Arizona
Wednesday, February 4, 2009
Florida Judge Who Sued Over Jail Overcrowding Faces Reprimand
A Florida judge who filed a lawsuit seeking to change the way county officials handled jail overcrowding has been disciplined by the state's high court.
The Supreme Court of Florida ordered a public reprimand for St. Lucie County Court Judge Clifford Barnes, finding that he violated the state's Code of Judicial Conduct. The court determined that Barnes ran afoul of the rules regarding impartiality and that he committed acts that caused disrepute to the judiciary.
In affirming a recommendation by the Florida Judicial Qualifications Commission, the decision requires Barnes to appear before the court at a later date to receive the reprimand.
"I was too hopeful for a better outcome," said Barnes, who has served as a county court judge in Florida since 2005. He previously was the St. Lucie County Commissioner for 12 years.
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Posted by Personal Injury Lawyers in Phoenix, Arizona
The Supreme Court of Florida ordered a public reprimand for St. Lucie County Court Judge Clifford Barnes, finding that he violated the state's Code of Judicial Conduct. The court determined that Barnes ran afoul of the rules regarding impartiality and that he committed acts that caused disrepute to the judiciary.
In affirming a recommendation by the Florida Judicial Qualifications Commission, the decision requires Barnes to appear before the court at a later date to receive the reprimand.
"I was too hopeful for a better outcome," said Barnes, who has served as a county court judge in Florida since 2005. He previously was the St. Lucie County Commissioner for 12 years.
Read full story Law.com
Posted by Personal Injury Lawyers in Phoenix, Arizona
Thursday, January 29, 2009
Attorney Charged With Stealing Millions From Guardian Accounts
Law firm has been indicted for money laundering, grand larceny and a scheme to defraud
Brooklyn lawyer has been charged with stealing more than $4 million between 2001 and 2008 from guardianship bank accounts he supervised for incapacitated elderly people and children.
Steven T. Rondos, 44, and his law firm, Raia & Rondos in Brooklyn, have been indicted for money laundering, grand larceny, a scheme to defraud and offering a false instrument for filing, Manhattan District Attorney Robert M. Morgenthau said in a statement.
Rondos, who was born in Canada but is a U.S. citizen, was arrested in his Ridgewood, N.J., home early Wednesday morning and taken to the Bergen County, N.J., jail. He was listed as a "fugitive from justice" on the jail's Web site.
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Posted by Auto Accident Lawyers in Phoenix, Arizona
Brooklyn lawyer has been charged with stealing more than $4 million between 2001 and 2008 from guardianship bank accounts he supervised for incapacitated elderly people and children.
Steven T. Rondos, 44, and his law firm, Raia & Rondos in Brooklyn, have been indicted for money laundering, grand larceny, a scheme to defraud and offering a false instrument for filing, Manhattan District Attorney Robert M. Morgenthau said in a statement.
Rondos, who was born in Canada but is a U.S. citizen, was arrested in his Ridgewood, N.J., home early Wednesday morning and taken to the Bergen County, N.J., jail. He was listed as a "fugitive from justice" on the jail's Web site.
Read full story Law.com
Posted by Auto Accident Lawyers in Phoenix, Arizona
Wednesday, January 28, 2009
Judges to Serve More Than Seven Years in Prison After Pleading Guilty in Kickbacks Probe
Agreement also calls for judges to resign from the bench and consent to disbarment, according to U.S. Attorney's Office
Two Luzerne County, Pa., judges have conditionally agreed to plead guilty and serve more than seven years each in prison for their roles in a Dickensian scheme to channel juvenile offenders into a private detention facility in exchange for payments from the owners.
The announcement by federal prosecutors of the conditional plea agreements with former President Judge Mark Ciavarella Jr. and Judge Michael Conahan came Monday in Scranton. U.S. Attorney for the Middle District of Pennsylvania Martin Carlson indicated that the indictment against the veteran judges was the first set of charges and that the investigation was ongoing.
Read full story Law.com
Posted by Personal Injury Lawyer in Phoenix, Arizona
Two Luzerne County, Pa., judges have conditionally agreed to plead guilty and serve more than seven years each in prison for their roles in a Dickensian scheme to channel juvenile offenders into a private detention facility in exchange for payments from the owners.
The announcement by federal prosecutors of the conditional plea agreements with former President Judge Mark Ciavarella Jr. and Judge Michael Conahan came Monday in Scranton. U.S. Attorney for the Middle District of Pennsylvania Martin Carlson indicated that the indictment against the veteran judges was the first set of charges and that the investigation was ongoing.
Read full story Law.com
Posted by Personal Injury Lawyer in Phoenix, Arizona
Tuesday, January 20, 2009
Mayor of Racine, Wis., resigns after sex sting
Underage girl in online chat was police officer; he plans to plead not guilty
MILWAUKEE - The mayor of Racine, Wis., resigned on Tuesday, days after being accused of trying to arrange a sexual encounter with someone he thought was an underage girl.
Mayor Gary Becker resigned, effective 5 p.m. Tuesday, in a one-sentence letter that made no reference to the six felonies he faces.
His attorney, Patrick Cafferty, said Becker decided to resign because "it was in the best interest of everyone involved." He said his client intends to plead not guilty to all charges during a Feb. 10 arraignment in Racine County Circuit Court.
Read full story MSNBC
Posted by Auto Accident Lawyers in Phoenix, Arizona
MILWAUKEE - The mayor of Racine, Wis., resigned on Tuesday, days after being accused of trying to arrange a sexual encounter with someone he thought was an underage girl.
Mayor Gary Becker resigned, effective 5 p.m. Tuesday, in a one-sentence letter that made no reference to the six felonies he faces.
His attorney, Patrick Cafferty, said Becker decided to resign because "it was in the best interest of everyone involved." He said his client intends to plead not guilty to all charges during a Feb. 10 arraignment in Racine County Circuit Court.
Read full story MSNBC
Posted by Auto Accident Lawyers in Phoenix, Arizona
Friday, January 16, 2009
Eli Lilly to Pay $1.42 Billion to Settle Zyprexa Marketing Suits
Anti-psychotic drug was allegedly improperly pushed for treatment of myriad ailments
Eli Lilly & Co. will pay a combined $1.42 billion, including the largest criminal fine in history -- $515 million -- to settle charges that it illegally marketed the anti-psychotic drug Zyprexa for off-label use, federal prosecutors announced Thursday.
Zyprexa was approved by the Food and Drug Administration only as a treatment for schizophrenia and bipolar disorder, prosecutors said, but Lilly allegedly set out to market the drug to elderly patients as a treatment for dementia, Alzheimer's, agitation, depression and generalized sleep disorder.
In doing so, prosecutors said, Indianapolis-based Lilly ignored explicit warnings from the FDA that Zyprexa should not be so widely prescribed because of side effects such as weight gain that could lead to obesity and even the onset of diabetes in some patients.
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Posted by Auto Accident Lawyers in Phoenix, Arizona
Eli Lilly & Co. will pay a combined $1.42 billion, including the largest criminal fine in history -- $515 million -- to settle charges that it illegally marketed the anti-psychotic drug Zyprexa for off-label use, federal prosecutors announced Thursday.
Zyprexa was approved by the Food and Drug Administration only as a treatment for schizophrenia and bipolar disorder, prosecutors said, but Lilly allegedly set out to market the drug to elderly patients as a treatment for dementia, Alzheimer's, agitation, depression and generalized sleep disorder.
In doing so, prosecutors said, Indianapolis-based Lilly ignored explicit warnings from the FDA that Zyprexa should not be so widely prescribed because of side effects such as weight gain that could lead to obesity and even the onset of diabetes in some patients.
Read full story Law.com
Posted by Auto Accident Lawyers in Phoenix, Arizona
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