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NY court hears hedge fund boss' bail arguments
Court Feed News |
2011/12/01 17:29
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A federal appeals court did not immediately rule Wednesday whether hedge fund founder Raj Rajaratnam must report to prison next week for an 11-year sentence for insider trading, the longest term ever given for the crime.
Attorney Patricia Millett told the 2nd U.S. Circuit Court of Appeals in Manhattan that Rajaratnam should remain free on bail while the appeals court hears a challenge to his conviction in the biggest insider trading case in history.
Rajaratnam, 54, was sentenced in October after his conviction this year on charges that he engaged in insider trading from 2003 through October 2009 at the Galleon Group of hedge funds that he founded. Prosecutors said insider trading schemes involved the stocks of at least 19 different public companies and resulted in at least $70 million in illegal gains.
Rajaratnam was also ordered to forfeit $53.8 million and to pay a $10 million fine.
Millett said court papers filed to secure wiretaps that provided evidence crucial to his conviction were improperly made, raising a substantial question of law that entitles him to remain free until the appeals court hears the case sometime next year. |
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Man tied to Ohio Craigslist case appears in court
Court Feed News |
2011/12/01 15:28
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A suspect in a deadly Craigslist robbery plot was wheeled into court in an unrelated case Thursday, his head bobbing rhythmically, and he later ignored questions about the mounting body count and his relationship with a teen murder suspect.
Richard Beasley, unshaved and dressed in a white and gray striped jail outfit, didn't speak and kept his head down as Summit County Common Pleas Judge Tammy O'Brien revoked his bond on a drug-trafficking charge.
The legal problems faced by Beasley, a self-styled chaplain and youth mentor, are mounting: His attorney said a prostitution case involving the 52-year-old Beasley and a 17-year-old boy would be upgraded with a racketeering charge Friday.
The drug and prostitution cases in Akron are unrelated to a widening Craigslist homicide investigation.
Investigators say someone trying to lure robbery victims posted a bogus ad on Craigslist touting a cattle farm job in southeast Ohio.
Authorities have linked two bodies and the shooting of a man who survived to the scheme, which targeted single, out-of-work men in their late 40s or early 50s. The investigators heading up the Craigslist inquiry also found a third body but have yet to link it to the case.
A 16-year-old boy, Brogan Rafferty of nearby Stow, faces juvenile charges of aggravated murder, complicity to aggravated murder, attempted murder and complicity to attempted murder in the death of one man and the shooting of another. |
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Jackson's family calls for stiff sentence for doc
Court Feed News |
2011/11/29 17:37
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Michael Jackson's family told a judge Tuesday that they were not seeking revenge but want the doctor who killed the superstar to receive a stiff sentence that serves as a warning to opportunistic doctors.
"The Bible reminds us that men cannot do justice, they can only seek justice," the family said in a statement read by attorney Brian Panish. "That is all we can ask as a family, and that is all we ask for here."
The statement went on to say, "We are not here to seek revenge. There is nothing you can do today that will bring Michael back."
Panish did not specifically request the maximum term of four years in jail for Murray but said the cardiologist should be punished in a way that reminds physicians that they cannot sell their services to the highest bidder.
Superior Court Judge Michael Pastor was expected to sentence Murray later in the day after hearing from lawyers on both sides of the case.
Murray was convicted of involuntary manslaughter after a six-week trial that presented the most detailed account yet of Jackson's final hours but left many questions about Murray's treatment of the superstar with an operating-room anesthetic as he battled chronic insomnia. |
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Supreme Court won't hear skycaps' appeal on tips
Court Feed News |
2011/11/28 12:02
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The Supreme Court has left in place a ruling that denied $333,000 to airport skycaps who claimed they were cheated out of tips when American Airlines started charging curbside baggage fees.
The court on Monday rejected an appeal from nine skycaps at Logan International Airport in Boston. They wanted the court to review a federal appeals court ruling that overturned a lower court decision in their favor.
The skycaps sued under a Massachusetts law aimed at preventing employers from keeping tips intended for workers. The 1st U.S. Court of Appeals in Boston held that the law was pre-empted by federal aviation law regulating airfares. The court also said that soon after institution of the baggage fee, American Airlines clearly indicated with signs that the $2 fee was not a tip. |
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Texas asks court to stop redistricting plan
Court Feed News |
2011/11/25 17:06
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The Supreme Court has been asked to stop a federal court from implementing a state redistricting map in Texas that could increase minority representation in the state Legislature.
The state's attorney general, Greg Abbott, filed the request with the high court on Monday. The court-drawn map was drafted after minority groups challenged the original plan passed by the Republican-dominated state Legislature.
The map drawn by the San Antonio-based federal court could lead to greater minority representation and give Democrats a chance to add as many as a dozen seats in the Legislature. Abbott and other Republican leaders have denied that any of the legislature's redistricting maps would diminish minority voting power.
The court-ordered map will remain in place until the legal fights are resolved. |
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Defendant in $670M scam enters guilty plea in Va.
Court Feed News |
2011/11/22 17:46
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A man who cooked the books for a $670 million insurance industry scam pleaded guilty Monday to charges he helped mislead thousands of investors worldwide.
Jorge Luis Castillo, 56, Hackettstown, N.J., entered pleas in U.S. District Court to conspiring to commit mail and wire fraud in U.S. District Court. He is scheduled for sentencing May 22 and could receive up to 20 years in prison and fined up to $250,000.
Castillo, who originally was scheduled for trial in 2012, will assist the government's prosecution of Minor Vargas Calvo, 60, the president and majority owner of Provident Capital Indemnity Ltd., a Costa Rican company. He is scheduled for trial in February. He has pleaded not guilty to similar charges.
The government called Castillo a "gatekeeper" for Provident. As a certified public accountant, he cast himself as an "outside auditor" and falsely reported a rosy financial picture for the company, which had a global client base.
"This is truly an international fraud in scope," U.S. Attorney Neil H. MacBride said in a conference call after Castillo entered his plea. "As a result of Mr. Castillo's crimes, a lot of people lost life savings to life settlement companies because of the worthless guarantees that Mr. Castillo helped create. |
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