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.
Read full story Law.com
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
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