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Suspected Colombian drug kingpin nixes plea deal
Court Feed News | 2011/06/14 11:49

The suspected leader of a Colombian cocaine cartel had planned to plead guilty Tuesday to a drug conspiracy charge, but opted at the last minute to go to trial instead because the deal prosecutors offered meant he would likely die in prison.

An exasperated U.S. District Judge Patricia Seitz warned Jaime Alberto Marin-Zamora that the latest continuance in his case — the third — would be his last. She scheduled a trial for Sept. 26.

"That's the drop-dead date," Seitz told Marin-Zamora, who was clad in tan prison garb and was using earphones so he could hear an interpreter translate the judge's words to Spanish.

Defense lawyer David Fernandez told The Associated Press after the hearing that prosecutors offered a plea deal that would effectively mean a life sentence, which is the maximum Marin-Zamora faces if convicted of cocaine trafficking conspiracy at trial.

"We're not going to take a plea that would let him rot in jail for the rest of his life," Fernandez said. "We were looking for a number we could live with and my guy wouldn't die in jail."

Fernandez declined to discuss specific details of the negotiations.



2 ex-judges, lawyer back to prison in Miss scheme
Lawyer Blog News | 2011/06/14 02:06
Two ex-judges and an attorney from Mississippi must return to federal prison for their convictions in a loan scheme.

A federal appeals court had vacated their bribery convictions but upheld the guilty verdicts on corruption charges. So they needed to be resentenced.

U.S. District Judge Henry T. Wingate denied requests by Paul Minor and former Harrison County judges Wes Teel and John Whitfield to be re-sentenced to time they have already served.

Wingate on Monday sentenced Minor to eight years, Teel to four and Whitfield about six — all less than previous.

Prosecutors said Minor would guarantee loans for the judges, then used cash and third parties to pay off the debts. Judges then ruled in his favor in civil cases. He has long said he is innocent and was making loans to help friends.


High court upholds Nevada ethics law
Lawyer Blog News | 2011/06/13 17:27

The Supreme Court on Monday unanimously upheld a Nevada ethics law that governs when lawmakers should refrain from voting on official business because they might have a conflict of interest.

The court reversed a Nevada Supreme Court decision that said elected officials have a constitutional right to vote on official business that the state law violated.

The decision came in the case of Michael Carrigan, a Sparks, Nev., council member who voted on a casino project even though his campaign manager served as a project consultant.

Justice Antonin Scalia, writing for the court, said an elected official's vote "is not his own speech but a mechanical function of government — the commitment of his apportioned share of the legislature's power to the passage or defeat of a particular proposal."

Scalia said conflict-of-interest rules similar to Nevada's "have been commonplace for over 200 years."

The Nevada Commission on Ethics found that Carrigan's vote violated a provision of the ethics law that lays out various relationships that should disqualify an official from voting, including the official's relatives and business associates.

The ethics panel said Carrigan should have abstained from voting because his friend and campaign manager, Carlos Vasquez, also worked as a consultant for the Red Hawk Land Co., which was backing the Lazy 8 casino project.



Court to decide whether farmers must pay tax
Court Feed News | 2011/06/13 15:28

The Supreme Court will decide whether a couple must pay taxes on the bankruptcy sale of their family farm.

The high court on Monday agreed to hear an appeal from Lynwood and Brenda Hall.

The Halls were forced to sell their family farm for $960,000 to settle their bankruptcy debts. That sale brought about capital gains taxes of $26,000. The Halls wanted the taxes treated as part of the bankruptcy, paying part of it and having the court discharge the rest.

The IRS objected to that plan, saying all of the taxes must be paid and the 9th U.S. Circuit Court of Appeals in San Francisco agreed with the tax agency.

The high court will review that decision.



Ohio court investigating lawyer who tipped Tressel
Legal Career News | 2011/06/13 14:28

The Ohio Supreme Court is investigating possible misconduct by the attorney who first tipped Ohio State's football coach to NCAA violations by his players.

Coach Jim Tressel's decision not to alert university officials to the tip from lawyer Christopher Cicero ultimately led to Tressel's resignation under pressure for failing to report the violations immediately.

State Disciplinary Counsel Jonathan Coughlan (COG'-linn) alleged in a filing Friday that Cicero violated professional conduct rules by revealing information from interviews with a potential client.

The filing cites three emails Cicero sent Tressel on April 2 and April 16. They contain details about Ohio State memorabilia discovered at a local tattoo parlor by federal investigators.




Fed proposes expanding capital reviews to 35 banks
Headline News | 2011/06/11 18:37
The Federal Reserve wants a broader group of banks to provide details each year about their finances, part of an effort to ensure banks can meet their capital requirements and avoid another financial crisis.

The Fed currently requires the nation's 19 largest banks to submit capital plans annually. The proposal unveiled Friday would expand the list to the 35 largest banks by requiring firms with assets of $50 billion or more to submit annual plans.

Capital is the amount of reserves that a bank holds as a cushion against losses. If the Fed determines a bank doesn't have adequate capital, it can order it to stop paying dividends to stockholders. The central bank is taking comments on the proposal through August and has plans to implement it by January.

The financial overhaul law passed last year directed federal regulators to do a better job monitoring the level of capital that banks keep on hand. Banks have been fighting many of the more stringent controls being imposed under last year's legislation. They contend the tighter rules are not necessary and will restrict their ability to make loans.


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