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Ex-law firm office manager sentenced for theft
Headline News |
2011/07/11 00:50
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The former office manager of a northern New Jersey law firm has been sentenced to seven years in prison for stealing more than $400,000 from her employers.
The firm's owners say the thefts Beth Friedland committed between 2003 and January 2010 caused serious financial problems and forced them to lay off staff and associates. The Roxbury Township resident pleaded guilty in March to theft by unlawful taking, admitting she stole $448,721 from the Chatham-based firm of Maloof, Lebowitz, Connahan amp;Oleske.
The firm, though, claims Friedland took $1.1 million overall and has sued her to regain those funds.
Friedland must serve about 17 months of the sentence imposed Friday before becoming eligible for parole. Her husband, Alex Cruz, who pleaded guilty to conspiracy, was sentenced Friday to three years probation. |
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Lawyer defends Nevada truck firm in Amtrak crash
Law Firm News |
2011/07/11 00:50
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A lawyer for the Nevada trucking company whose tractor-trailer slammed into an Amtrak train, killing six people, defended the company’s safety record Thursday and said it was not at fault in two previous accidents cited in state safety records.
John Davis Trucking Co. has been cooperating with local, state and federal investigators and is as anxious as anyone to learn why the driver who died in the June 24 crash ignored flashing lights and crossing gates before skidding the length of a football field into the side of the train, Steven Jaffe of Las Vegas said.
But he said four negligence lawsuits filed against the Battle Mountain company — combined with the ongoing investigation by the National Transportation Safety Board — has kept the brothers who own the family-run business from sharing information that would help shed more light on the tragedy.
“There’s a lot more than meets the eye,” Jaffe told The Associated Press. “I think when it all comes down to it, the public is going to see a very different John Davis Trucking than was originally put out there.
“I believe the evidence will show their conduct was defensible in all of this,” he said. “I have a great deal of trust in the legal system, and if some day we go in front of a jury, I’m confident it will give us the chance to say that we did everything right.”
Federal records reviewed by the AP show the state Department of Public Safety cited the company for 16 vehicle maintenance violations over the past two years and noted it had been involved in two crashes during that period, including one in February 2010 that injured a person in Washoe County. |
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Lawyer sentenced in insider trading scheme in NYC
Headline News |
2011/07/07 09:56
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A New Jersey lawyer was sentenced Thursday to 2 1/2 years in prison for his role in a hedge fund insider trading scheme as the judge said it was important to send a message of deterrence to Wall Street and to lawyers nationwide.
Arthur Cutillo teamed with another lawyer at a prominent Manhattan law firm to provide tips about mergers and acquisitions of public companies to friends trading stocks professionally.
Cutillo must report to prison in September. U.S. District Judge Richard Sullivan also ordered the 34-year-old Newark, N.J., resident to forfeit $378,608, which represents a portion of the roughly $7 million that authorities estimate was illegally made by traders as a result of inside information from a variety of sources in the case.
Cutillo, who apologized before he was sentenced, was among those arrested in 2009 when U.S. Attorney Preet Bharara unveiled what he said was the biggest hedge fund insider trading case in history.
After the sentence was announced, Bharara said: With today's sentence, he now joins a growing group of privileged professionals who are paying a high price for insider trading.
Cutillo admitted providing tips to a former college friend in 2007 and 2008 about secrets he learned at the international firm Ropes amp; Gray. In return, he received $32,500 in cash, part of $100,000 paid to Cutillo and another Ropes amp; Gray lawyer in return for stock tips.
The prosecution also resulted in the conviction of Raj Rajaratnam, a one-time billionaire who the government said made tens of millions of dollars through inside information provided by longtime friends carrying secrets about public companies.
Sullivan cited Cutillo's challenging family circumstances, including two children with special needs, as reasons that he did not boost the sentence beyond the minimum recommended in a plea deal with prosecutors. |
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Defendant in 4 Calif. killings now wants lawyer
Court Watch |
2011/07/06 09:56
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The man charged with killing four Northern California women with matching first and last initials has asked for a court-appointed attorney to help him defend himself.
Seventy-seven-year-old Joseph Naso is currently acting as his own attorney. But he told a judge Wednesday his incarceration at the Marin County Jail has limited his ability to conduct legal research and has scared away attorneys who could help him.
He asked Judge Andrew Sweet to appoint an attorney to his case. Sweet is expected to continue hearing arguments about the request Thursday.
District Attorney Ed Berberian says Naso has enough money to hire his own attorney and doesn't need one appointed by the court.
Naso is accused of murdering four prostitutes in the 1970s and 1990s throughout Northern California. He has pleaded not guilty. |
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Bill revision could mean money for NJ drug company
Topics |
2011/07/05 09:25
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A billion-dollar technical revision added to a patent bill passed by the House last week could provide huge financial benefits to one pharmaceutical company and a law firm.
On the surface, the barely noticed amendment simply clarifies a process by which the Food and Drug Administration approves a patent for a brand-name drug, and gives the manufacturer 60 days to apply for an extension with the U.S. Patent and Trade Office.
In reality, the measure could give a New Jersey drugmaker, The Medicines Co., 2½ more years of patent protection for its lucrative blood thinner Angiomax. It would also save the law firm WilmerHale $214 million it would owe the drug company under a malpractice lawsuit if a generic alternative is sold in the United States before June 15, 2015.
The amendment barely won House approval and it is not a part of the Senate version of the patent system overhaul bill, so it is questionable whether it will ever become law. The amendment would write into law a court decision in favor of the drug company and would pre-empt any appeal.
It shows how, hidden behind the lines of obtuse legislative language, huge fortunes can be at stake, sometimes for specific companies. |
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Borrowers sue over apparent loan mod mishaps
Law Firm News |
2011/07/05 09:24
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It seemed Maria Campusano's financial problems were behind her when the mortgage on her Victorian home in a Massachusetts mill town was chopped by hundreds of dollars a month.
She soon learned that her troubles had just begun.
Weeks after making her first payment under the new rate, the school district staffer began receiving past-due notices, documents showing wildly inaccurate loan balances and letters threatening foreclosure. She now fears she'll lose her home.
How can they take away what I have worked so hard for? Campusano said.
Campusano is one of two named plaintiffs in a proposed class-action lawsuit alleging breach of contract by Bank of America NA and subsidiary BAC Home Loans Servicing LP.
The suit, which was filed in Los Angeles federal court because BAC is located in nearby Calabasas, is among a growing number of legal complaints accusing banks of disregarding what should be binding agreements to reduce the monthly mortgage payments of troubled borrowers.
The suits involve permanent modifications through the U.S. Treasury-administered Home Affordable Modification Program, which offers incentives to loan servicers who extend modifications, as well as so-called proprietary modifications, which banks offer independently of the government guidelines.
They represent a new wave of complaints against banks that have already weathered years of criticism for their reluctance to modify loans and for foreclosing on borrowers after offering them trial modifications. |
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