|
|
|
Ga. banker accused of losing millions due in court
Law Firm Press Release |
2014/01/02 14:53
|
A south Georgia bank director accused of losing millions of investor dollars before vanishing is set to appear in court.
The U.S. attorney's office in Savannah says 47-year-old Aubrey Lee Price is due to appear before a federal judge in Brunswick on Thursday. Price was arrested Tuesday during a traffic stop on Interstate 95 in Brunswick.
Price had disappeared in June 2012 after sending a rambling letter to his family and acquaintances saying he had lost millions of investment dollars and planned to kill himself.
A Florida judge declared him dead about a year ago. But the FBI had said it didn't believe Price was dead and continued to search for him.
Prosecutors say Price raised $40 million from his bank and 115 investors, and lost much of the money. |
|
|
|
|
|
|
Tenino man pleads guilty to child pornography
Law Firm Press Release |
2013/12/30 14:58
|
The U.S. attorney's office says a Tenino man pleaded guilty Friday in federal court in Tacoma to possession of child pornography.
As part of a plea agreement, prosecutors are recommending a four-year prison term when 47-year-old James Donald Mobley is sentenced in March.
The U.S. attorney's office says the former teacher at Tenino Elementary School is one of 348 people arrested worldwide as part of the "Project Spade" investigation into a Toronto-based website.
Investigators found Mobley purchased child pornography from the company. He was arrested last January. A search of his computer found 650 photos and 45 videos of child pornography. |
|
|
|
|
|
|
$15 SeaTac minimum wage challenged in court
Law Firm Press Release |
2013/12/16 11:20
|
A King County Superior Court judge declined Friday to immediately rule on a challenge to the voter-approved $15 an hour minimum wage requirement for airport workers in Seattle-Tacoma International Airport.
Judge Andrea Darvas said she'll issue a ruling with reasoning after Christmas Day but before January 1. Parties in the case had been expecting a ruling Friday.
The measure is scheduled to go into effect on January 1.
Last month voters in the city of SeaTac narrowly approved the measure, which would require a $15 minimum wage, a handful of paid sick days and other standards to around 6,000 workers at the airport and related industries, like hotels and rental car companies.
However, the legal fight over the measure is not expected to end with Darvas' ruling. An eventual appeal to the state Supreme Court could come from either side, depending on her ruling.
The challenge to the newly approved measure is being led by Alaska Airlines Group and other businesses. They say that an initiative approved by city residents doesn't have power over the airport, which is operated by the Port of Seattle. The Port of Seattle, a public entity, agrees.
Alaska Airlines Group also says state law prohibits initiatives from packaging laws. So they're arguing that the multiple requirements in the measure, such as the minimum wage and paid sick days, constitute packaging multiple laws into one initiative. |
|
|
|
|
|
|
Court: Exec guilty over faulty French implants
Law Firm Press Release |
2013/12/12 13:46
|
A disgraced French businessman was convicted of fraud and sentenced to four years in prison on Tuesday for filling tens of thousands of breast implants with industrial grade silicone. But he left the courthouse freely after lodging an appeal, and thousands of women will have to wait longer to discover if they will receive damages.
The ruling in the criminal case by a court in Marseille, which all the trappings of a class-action lawsuit, ordered up to 40 million euros ($55 million) in damages paid to a fraction of the 125,000 women worldwide who received the implants.
However, that sum for Jean-Claude Mas' company, Poly Implant Prothese, was largely theoretical because it is bankrupt, and because the appeal froze any efforts to find alternate sources. It will be months, if not years, before any women see money many say they need to remove the faulty, leak-prone implants.
In addition to his prison sentence, the French businessman was fined 75,000 euros ($103,000).
His lawyer promised to appeal immediately, and Mas left the courthouse without comment. The appeal freezes the jail term, fine and any damages.
Four managers in the now-defunct Poly Implant Prothese received lesser sentences.
The decision established a complex system of damages for about two-thirds of the 7,100 women who joined the case, with a potential total of 40 million euros ($55 million) to be paid by those convicted. But, like Mas' fine, it was not clear where that money would come from.
|
|
|
|
|
|
|
Dutch Supreme Court: Fortis was mismanaged
Law Firm Press Release |
2013/12/09 14:33
|
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. |
|
|
|
|
|
| Law Promo can construct your law firm a brand new responsive website, or help you redesign your existing site to secure your place in the internet world. Small Law Firm Web Design by Law Promo |
|
Recent Lawyer Blog Updates |
|
|
Lawyer News RSS
