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Peter Madoff pleads guilty in NYC, blames brother
Areas of Focus |
2012/07/01 18:02
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In pleading guilty to criminal charges, Peter Madoff portrayed himself as a victim of a domineering older brother who he revered right up until an evening in December 2008 when his sibling revealed that his wildly successful investment business was a sham that lost its customers their nearly $20 billion investment.
"I was in total shock," Madoff said Friday as he described the confession by his older brother, Bernard. "My world was destroyed. I lost everything I worked for."
The 66-year-old Madoff, saying he was "deeply ashamed and terribly sorry," spoke angrily about his 74-year-old brother, who is serving a 150-year prison term after admitting his creation of the largest known Ponzi scheme.
"My family was torn apart as a result of my brother's atrocious conduct," he said. "I was reviled by strangers as well as friends who assumed that I knew about the Ponzi scheme."
He said his brother had made it clear that he would never become a partner in the business where he had worked since 1966, even as he was showered with tens of millions of dollars in salary, bonuses and other financial gifts. He made him the investment business's chief compliance officer. |
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Court: Madoff's brother to plead guilty in NY
Areas of Focus |
2012/06/27 16:03
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The brother of Ponzi scheme king Bernard Madoff will plead guilty on Friday to conspiracy and falsifying records, admitting his role in the multibillion-dollar fraud that destroyed the savings of thousands of investors, prosecutors told a judge on Wednesday.
Peter Madoff is the former chief compliance officer at the private investment arm of Bernard Madoff's business.
Court papers signed by a federal judge in Manhattan on Wednesday show Peter Madoff, who had worked with his brother since 1965, will plead guilty to two criminal counts, admitting his role in a conspiracy to commit securities fraud, falsify records of an investment adviser, falsify records of a broker dealer, make false filings with the Securities and Exchange Commission, commit mail fraud and obstruct the Internal Revenue service.
Assistant U.S. Attorney Lisa A. Baroni wrote in a letter to U.S. District Judge Laura Taylor Swain that, pursuant to a plea agreement with the government, Madoff had agreed "not to seek a sentence other than 10 years' imprisonment."
Madoff also agreed to the criminal forfeiture of $143 billion, including all of his real estate and personal property. The $143 billion, representing the amount of money believed to have flowed through the business accounts during the multi-decade Ponzi scheme, is included in the criminal forfeiture agreement, though authorities know that Peter Madoff's assets would never approach that figure. |
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Supreme Court says tribes must be fully reimbursed
Areas of Focus |
2012/06/18 20:05
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The Supreme Court says the government must fully reimburse Native American tribes for money they spent on federal programs.
The federal government had agreed to fully reimburse money tribes spent on programs like law enforcement, environmental protection and agricultural assistance, but Congress capped the amount of money earmarked for that reimbursement. The tribes sued, and the 10th U.S. Circuit Court of Appeals in Denver said the money must be fully reimbursed.
The high court on Monday said the Ramah Navajo Chapter and other Native American tribes must get their money back.
Justice Sonia Sotomayor wrote the majority opinion for Justices Antonin Scalia, Anthony Kennedy, Clarence Thomas and Elena Kagan. Chief Justice John Roberts, and Justices Ruth Bader Ginsburg, Stephen Breyer and Samuel Alito dissented. |
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Senate confirms Arizona jurist to 9th Circuit
Areas of Focus |
2012/06/13 16:17
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An Arizona Supreme Court justice was confirmed as a U.S. appellate judge Tuesday, despite complaints from conservatives that he influenced the Roe v. Wade ruling while a law clerk four decades ago.
The Senate confirmed Andrew David Hurwitz by voice vote, elevating him to the 9th U.S. Circuit Court of Appeals serving Washington, Oregon, Alaska, Idaho, Montana, Nevada, California and, Arizona.
The decision to confirm Hurwitz without a roll call angered Sen. Charles Grassley, ranking GOP member on the Judiciary Committee who opposed the nomination. A Democratic leadership official, who was not authorized to be quoted by name, said a deal to avoid a roll call was worked out between Majority Leader Harry Reid, D-Nev., and Republican leaders. .
Grassley, speaking on the Senate floor, said, "I was shocked and disappointed" with the decision to bypass a roll call. "I was not so informed, and I'm ranking member of the Judiciary Committee. It seems to me that all the business of the Senate is based upon trust between one senator and another. It seems to me that that trust has been violated. "
Grassley did not name anyone. However the deputy Republican leader, John Kyl of Arizona, supported the nomination. Kyl bristled at the suggestion that he cut a backroom deal to confirm the judge by voice vote. |
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Ohio man found guilty in septic tank body case
Areas of Focus |
2012/06/11 15:55
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A jury has convicted a man of aggravated murder and other charges in the death of his estranged wife, who was found strangled in a septic tank in southeast Ohio last year.
Hocking County jurors in Logan deliberated for about four hours before returning a verdict Tuesday in the trial of 27-year-old William Inman II. He could face the death penalty when he's sentenced.
His parents also are charged. They are being tried separately in the slaying of his 25-year-old wife, Summer.
Authorities say she was abducted in Logan, strangled with a zip tie and dumped in an underground septic tank behind a church in March of last year.
Inman's parents have pleaded not guilty. They'll be tried later this year. |
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Wash. lawyers challenge secret court proceedings
Areas of Focus |
2012/05/26 21:51
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A defense lawyer in Eastern Washington was reading a detective's statement in his client's drug case when he came across a curious line. In asking to search the man's house and cars, the detective revealed that he had already seen the defendant's bank records.
That's odd, thought the lawyer, Robert Thompson of Pasco. There's no search warrant for the bank records. How'd he get them?
The answer — with a subpoena secretly issued by a judge — provides a window into the little-known use of "special inquiry judge proceedings" in Benton County and across the state. Prosecutors who use them say the proceedings are authorized by state law, make for more efficient investigations and have plenty of judicial oversight, but Thompson and other defense attorneys say they raise questions about privacy, accountability and the open administration of justice. |
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Kan. gov. signs measure blocking Islamic law
Areas of Focus |
2012/05/26 21:51
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Kansas Gov. Sam Brownback has signed a law aimed at keeping the state's courts or government agencies from basing decisions on Islamic or other foreign legal codes, and a national Muslim group's spokesman said Friday that a court challenge is likely.
The new law, taking effect July 1, doesn't specifically mention Shariah law, which broadly refers to codes within the Islamic legal system. Instead, it says courts, administrative agencies or state tribunals can't base rulings on any foreign law or legal system that would not grant the parties the same rights guaranteed by state and U.S. constitutions.
"This bill should provide protection for Kansas citizens from the application of foreign laws," said Stephen Gele, spokesman for the American Public Policy Alliance, a Michigan group promoting model legislation similar to the new Kansas law. "The bill does not read, in any way, to be discriminatory against any religion."
But supporters have worried specifically about Shariah law being applied in Kansas court cases, and the alliance says on its website that it wants to protect Americans' freedoms from "infiltration" by foreign laws and legal doctrines, "especially Islamic Shariah Law." |
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