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Poker company co-founder pleads guilty in NYC
Court Watch |
2011/12/20 10:24
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The co-founder of an Internet poker company pleaded guilty Tuesday to conspiracy charges, admitting that he knew he was breaking the law when he arranged for U.S. banks to process gambling proceeds.
Brent Buckley, 31, entered the plea in U.S. District Court in Manhattan, saying he knew it was illegal to accept credit cards so that customers could gamble on the Internet.
"I knew that it was illegal to deceive the banks," Buckley told Magistrate Judge Ronald Ellis in a plea deal that calls for him to receive a sentence between a year and a year and a half in prison. Sentencing was set for April 19.
The charges stem from a prosecution that shut down U.S. operations of the three largest Internet companies last spring.
Buckley was a co-founder of Absolute Poker. Prosecutors said Absolute Poker, Full Tilt Poker and PokerStars tricked U.S. banks into processing billions of dollars of gambling transactions by disguising the money as payments to hundreds of non-existent online merchants purporting to sell merchandise such as jewelry and golf balls.
Buckley, who stood with his hands clasped behind his back, was described in court as the director of payments for Absolute Poker.
The U.S. in October 2006 enacted the Unlawful Internet Gambling Enforcement Act, which makes it a crime for gambling businesses to knowingly accept most forms of payment in connection with the participation of another person in unlawful Internet gambling. |
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Polygamous family launches challenge of Utah law
Court Watch |
2011/12/20 10:23
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Reality TV stars Kody Brown and his four wives say they just want one thing: to be left alone.
As authorities investigate them for bigamy, the TLC "Sister Wives" family is asking a federal judge to overturn part of Utah's bigamy law because it bans them from living together and criminalizes sexual relationships between unmarried consenting adults.
"What they are asking for is the right to structure their own lives, their own family, according to their faith and their beliefs," said Jonathan Turley, their attorney, adding that the lawsuit is about privacy — not polygamy.
The case in federal court in Utah, however, could open up the possibility that a way of life for tens of thousands of self-described Mormon fundamentalists could be decriminalized.
While all states outlaw bigamy, some like Utah have laws that both prohibit having more than one marriage license at a time and also ban adults from living together and having a sexual relationship.
The latter provision could include same-sex couples, unmarried heterosexual couples and those, like the Browns, who do not have licenses but have created within their homes a marriage-like relationship.
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Operative gets prison for bilking NYC mayor
Court Watch |
2011/12/19 11:25
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A political operative convicted of bamboozling Mayor Michael Bloomberg out of hundreds of thousands of dollars was sentenced to prison Monday un a case that brought the billionaire politician to the witness stand and gave the public a behind-the-scenes look at his campaign and City Hall.
John Haggerty agreed to pay $750,000 in restitution to Bloomberg in addition to his prison term of 1 1/3 to 4 years.
Haggerty, a veteran Republican campaign consultant, was convicted in October after a trial that jurors called a crash course in the workings of politics. Besides the business-mogul-turned-mayor, the case drew in the state's third-largest political party and featured a coterie of Bloomberg insiders sketching their roles in his political, philanthropic and business affairs.
"Since starting my career, I've worked hard to make a reputation in the world of politics and government as a dedicated, honorable individual. Today, my reputation is destroyed," Haggerty told the judge in a strong voice. "If I could do it all over again, I would certainly do it much differently than I did."
He walked out of court briskly, without handcuffs, after state Supreme Court Justice Ronald Zweibel pronounced a sentence he said he felt necessary "to restore the public's confidence in the electoral process and to serve as a deterrent." Haggerty's lawyers said they planned to ask an appeals court to let him out on bail during a planned appeal. |
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Court schedules week of health care arguments
Court Watch |
2011/12/19 11:25
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The Supreme Court announced Monday that it will use an unprecedented week's worth of argument time in late March to decide the constitutionality of President Barack Obama's historic health care overhaul before the 2012 presidential elections.
The high court scheduled arguments for March 26th, 27th and 28th over the Patient Protection and Affordable Care Act, which aims to provide health insurance to more than 30 million previously uninsured Americans. The arguments fill the entire court calendar that week with nothing but debate over Obama's signature domestic health care achievement.
With the March dates set, it means a final decision on the massive health care overhaul will likely come before Independence Day in the middle of Obama's re-election campaign. The new law has been vigorously opposed by all of Obama's prospective GOP opponents. Republicans have branded the law unconstitutional since before Obama signed it in a March 2010 ceremony.
In an extraordinary move, the justices are hearing more than five hours of arguments over the health care overhaul. In the modern era, the last time the court increased that time anywhere near this much was in 2003 for consideration of the McCain-Feingold campaign finance overhaul. That case consumed four hours of argument. |
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Wall St. seeks dismissal of Ala. record bankruptcy
Court Watch |
2011/12/16 09:35
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Wall Street creditors asked a federal judge Thursday to throw out the record bankruptcy filed by Alabama's largest county over more than $4 billion in debt, arguing state law doesn't allow it.
Lenders claimed during a hearing and in court documents that Alabama law permits bankruptcy only for bond debt, and Jefferson County has a different type of debt called warrants. The county and creditors could be thrown back into out-of-court settlement talks if the judge agrees.
The county contends bankers are cherry-picking state law in hopes of getting the case dismissed, and that any government in the state can go bankrupt whether its debt is for bonds or warrants.
The Jefferson County Commission president, David Carrington, testified that municipal bankruptcy was the county's sole option after intense negotiations fell apart.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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