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Man who tried to fake death pleads guilty to fraud
Headline Legal News |
2010/09/16 15:55
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An Indiana money manager who once led a high-flying lifestyle pleaded guilty to five securities fraud counts on Wednesday, nearly two years after he tried to fake his death in a Florida plane crash to escape the crush of financial and personal problems. Marcus Schrenker, 39, admitted the charges in a plea agreement under which he agreed to a 10-year prison sentence and prosecutors dropped four other charges. He also agreed to pay more than $600,000 in restitution. Prosecutors say he bilked friends, family members and other investors of more than $1 million. He will remain in jail until his Oct. 7 sentencing, when Hamilton Superior Court Judge Steven Nation is expected to rule whether Schrenker serves the sentence at the same time as a federal sentence or afterward. Schrenker, shackled at his wrists and ankles and wearing an orange jail T-shirt emblazoned with "Inmate 453" on its back in large black letters, told Nation he has been diagnosed with bipolar disorder and has taken medication for it since 1992. |
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Court lets part of organic-milk case proceed
Headline Legal News |
2010/09/16 10:54
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A federal appeals court says a group of dairy consumers can proceed with parts of a lawsuit alleging that several national retailers and an organic dairy company falsely labeled the dairy's milk. Aurora Organic Dairy, based in Boulder, Colo., is the nation's largest provider of store-brand organic milk. Customers sued Aurora and retailers including Wal-Mart Stores Inc., Wild Oats Markets Inc., Target Corp. and Costco Wholesale Corp., claiming Aurora's milk was misleadingly labeled. The appeals court blocked their claims that Aurora is not an organic dairy because the certification remains in effect. But ruling requires the trial court to hear claims that the milk isn't produced in the kinds of farms the labels describe.
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Court asked to keep stem cell money flowing
Areas of Focus |
2010/09/09 16:33
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The Obama administration is asking a federal appeals court to lift an order blocking federal funding for some stem cell research, a day after being turned down by the judge who issued the order. The administration told a federal appeals court in Washington on Wednesday that the order by U.S. District Judge Royce Lamberth stops "funding for embryonic stem cell research in its tracks." Lamberth rejected the administration's request to let funding continue while it pursues an appeal of his order. Medical researchers value stem cells because they are master cells that can turn into any tissue of the body. Research eventually could lead to cures for spinal cord injuries, Parkinson's disease and other ailments. |
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Menzer & Hill, P.A. Announces Investigation
Headline Legal News |
2010/09/09 16:33
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e Securities Arbitration Firm of Menzer & Hill, P.A. Announces Investigation Into The Sales Practices Of Broker-Dealers That Solicited Purchases of Inverse and Leveraged Exchange-Traded Funds (ETFs)
The Securities Arbitration Firm of Menzer & Hill, P.A. (www.suemyadvisor.com) announced today that it is investigating the sales practices of brokerage firms that solicited investors to buy leveraged and inversed Exchanged-Traded Funds (“ETFs”). Many brokerage firms, through their financial advisors, are soliciting purchases in these securities as investments, with holding periods longer than one day, while others are recommending option strategies on the underlying ETFs. The Financial Industry Regulatory Authority (“FINRA”), stated in a Regulatory Notice, sent to brokerage firms June 2009, that leveraged and inverse ETFs are “highly complex financial instruments” and “are typically not suitable for retail investors who plan to hold them for more than one trading [day], particularly in volatile markets.” Brokerage firms that failed to adhere to suitability requirements could be held liable to investors that sustained losses in solicited purchases of leveraged and inverse ETFs as a result. Investors that have purchased leveraged or inverse ETFs through a brokerage account or managed account offered by Merrill Lynch, a subsidiary of Bank of America (NYSE:BAC), Morgan Stanley Smith Barney (NYSE:MS), Wells Fargo Advisors (NYSE:WFC), Ameriprise Financial (NYSE:AMP), UBS (NYSE:UBS), LPL Financial, Raymond James (NYSE:RJF), Edward Jones, or other brokerage firms and have sustained losses should contact the attorneys at the Securities Arbitration Firm of Menzer & Hill, P.A. to determine if they have a claim for a recovery of losses. Leveraged and inverse ETFs can be volatile and investors may have realized or unrealized losses in the following ETFs year to date, including but not limited to: DRV down 63% (NYSEArca: DRV); | TMV down 46% (NYSEArca: TMV); | VXX down 44% (NYSEArca: VXX); | SRS down 43% (NYSEArca: SRS); | ZSL down 42% (NYSEArca: ZSL); | GAZ down 38% (NYSEArca: GAZ); | TZA down 36% (NYSEArca: TZA); | UNG down 35% (NYSEArca: UNG); | TBT down 34% (NYSEArca: TBT); | FAZ down 29% (NYSEArca: FAZ); and | UCO down 28% (NYSEArca: UCO). |
For a free case evaluation or to discuss any other investment losses, please contact the Securities Arbitration Firm of Menzer & Hill, P.A., at 888-923-9223, or visit us on the web at www.suemyadvisor.com. |
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Officials rescue 37 immigrants from Calif. house
Legal Topics |
2010/09/09 10:33
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Immigration authorities have rescued more than three dozen immigrants who were locked inside a sweltering boarded-up bedroom in a Southern California house. Immigration and Customs Enforcement officials said Wednesday some of the 37 immigrants from six Latin American countries had been held for weeks in the 10-by-10-foot room in Riverside and had gone several days without food. The immigrants, mostly men, had been stripped of their shoes and were found lying on the floor. Three children under 3 years old were also found inside the room, said Debra Parker, assistant special agent in charge for ICE Homeland Security Investigations in Riverside. Authorities say they began searching for the house after a caller reported smugglers had threatened to kill his relative when the family could not pay for his release. After scouring the area for two days, including with an infrared-equipped helicopter, officials searched the home Tuesday afternoon. Smugglers often hold illegal immigrants in so-called drop houses for days or weeks while collecting payment for bringing them into the country. |
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Court won't force Calif officials to defend Prop 8
Legal Topics |
2010/09/02 22:11
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A California court has refused to order Gov. Arnold Schwarzenegger and Attorney General Jerry Brown to appeal a ruling that overturned the state's gay marriage ban. The 3rd District Court of Appeal on Wednesday denied a conservative legal group's request to force the officials to defend voter-approved Proposition 8. Presiding Justice Arthur Scotland did not explain why the appeals court turned down the request filed two days earlier by the Pacific Justice Institute. The institute now plans to take the matter to the California Supreme Court, Chief Counsel Kevin Snider said Thursday. "We are disappointed that the appellate court showed indecisiveness in trying to prevent a constitutional crisis," Snider said. "They didn't want to deal with it." The institute maintains the attorney general and governor have the duty to uphold all laws, not just those with which they personally agree. Chief U.S. District Judge Vaughn Walker struck down Proposition 8 as unconstitutional last month. The measure approved by 52 percent of California voters in November 2008 amended the state Constitution to outlaw same-sex unions five months after the state Supreme Court legalized them. The state has until Sept. 11 to challenge Walker's ruling. Both Brown and Schwarzenegger have said they don't plan an appeal. |
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Appeals court OKs warrantless GPS tracking by feds
Areas of Focus |
2010/08/30 16:08
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The U.S. Court of Appeals for the Ninth Circuit earlier this month declined to schedule an en banc hearing, or a hearing before all judges in the ninth circuit, as requested by the defendant in a drug-related case. The defendant was seeking to suppress evidence gathered against him by federal agents who attached a GPS device to his vehicle without first obtaining a warrant. The defendant, Juan Pineda-Moreno of Oregon, claims that U.S. Drug Enforcement Agency agents violated his Fourth Amendment rights against unreasonable search by planting, without a warrant, a tracking device on a vehicle parked in his driveway in 2007. The agents were tracking Pineda-Moreno on suspicion that he belonged to a marijuana growing operation. A three-judge panel of the appellate court in January rejected Pineda-Moreno's claims and ruled that his constitutional rights were not violated. The court this month rejected a petition by Pineda-Moreno for a rehearing of his case by the full Ninth Circuit panel of judges. The appellate court's ruling essentially gives law enforcement agencies in the nine Western states under the Ninth Circuit's jurisdiction the legal authority to surreptitiously enter personal property and attach a GPS tracking device on vehicles parked there without first obtaining a warrant. |
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