Man who tried to fake death pleads guilty to fraud
Headline Legal News | 2010/09/16 15:55

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.



Court lets part of organic-milk case proceed
Headline Legal News | 2010/09/16 10:54

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.



Menzer & Hill, P.A. Announces Investigation
Headline Legal News | 2010/09/09 16:33
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.

Menzer & Hill, P.A.
Gary Menzer, 888-923-9223
www.suemyadvisor.com



Doctor charged in Jackson's death due in court
Headline Legal News | 2010/08/23 16:14

The doctor charged in Michael Jackson's death is due back in court for a scheduling hearing that will determine when prosecutors will publicly present some of their evidence.

Dr. Conrad Murray is required to attend Monday's hearing, during which a Los Angeles judge is expected to schedule a preliminary hearing for later this year.

The judge will decide at that hearing whether there is enough evidence for the involuntary manslaughter case against the cardiologist to continue. Murray, who maintains offices in Las Vegas and Houston, was charged in February for administering a lethal dose of anesthetic propofol to Jackson.

Murray has pleaded not guilty and his attorneys have said the physician did not give Jackson anything that "should have" killed him.



Paralegal, husband indicted in $1 million law-firm embezzlement
Headline Legal News | 2010/08/18 02:29

A paralegal and her husband have been indicted on suspicion of embezzling more than $1 million from the law firm where she worked.

The suspects are Rosanne and Michael Stogner. A grand jury indicted them this month in a series of thefts from Oaxaca, Bernal & Associates between March 2001 and May 2007.

Rosanne Stogner declined Monday to talk about the charges and her attorney, Dolph Quijano, did not return calls.

Rosanne Stogner was employed at the law firm at 1515 Montana as a paralegal and an office manager from 1999 to 2007, according to a complaint affidavit by police. Her responsibilities included preparing case files and paying bills.

But she also allegedly paid herself money to which she was not entitled.

Police alleged in the affidavit that Stogner made out checks to herself, to her husband, to his fence company and even to her daughter's personal trainer.



BP Deposits $3 Billion in Spill Fund
Headline Legal News | 2010/08/09 16:01

BP PLC said Monday that it has made an initial deposit of $3 billion into a $20 billion spill-recovery fund.

BP said it was making the deposit earlier than the originally scheduled Sept. 30 deadline to show its commitment to restoring the livelihoods of people affected by the worst offshore oil spill in history. The company said it would make an additional $2 billion deposit in the fourth quarter.

In June, BP agreed to set up the fund following a meeting between company Chairman Carl-Henric Svanberg and then-Chief Executive Tony Hayward with U.S. President Barack Obama and senior administration officials.

BP said the account would be administered by a newly established trust overseen by former U.S. District Judge John Martin and by Kent Syverud, dean of the Washington University School of Law. Citigroup Inc. will serve as corporate trustee.

"We are pleased that BP made an initial contribution and has taken an important step toward honoring its commitment to the President and the residents and business owners in the Gulf region," Associate Attorney General Tom Perrelli said in a statement. "We have made clear that the company still needs to ensure that the necessary funds will be available if something happens to the subsidiary that established the trust and we look forward to completion of an appropriate security arrangement in the near future."



Mo. man pleads guilty in 10-fatality Okla. wreck
Headline Legal News | 2010/08/03 16:03
A former Missouri truck driver charged in the deaths of 10 people in a northeast Oklahoma traffic collision has been sentenced to 30 days in jail and 10 years probation.

Ottawa County District Attorney Eddie Wyant said in a statement that 77-year-old Donald L. Creed of Willard, Mo., pleaded guilty Monday to 10 counts of misdemeanor negligent homicide.

An Oklahoma Highway Patrol report says it appeared the tractor-trailer Creed was driving June 26, 2009 didn't slow before it ran into traffic that had stopped for an earlier accident on Interstate 44.

Creed was driving for Kansas City, Kan.-based Associated Wholesale Grocers, but has since retired.

A message seeking comment was left for to Creed's attorney, Paul Brunton.



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