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Man convicted of fraudulently seeking $13M in COVID-19 loans
Topics in Legal News |
2022/02/28 10:20
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A Massachusetts businessman has been convicted of fraudulently seeking more than $13 million in federal coronavirus pandemic relief loans, federal prosecutors said.
Elijah Majak Buoi, 40, of Winchester, was convicted Thursday of four counts of wire fraud and one count of making a false statement to a financial institution following a three-day trial in Boston federal court, according to U.S. Attorney for Massachusetts Rachael Rollins’ office.
Prosecutors said Buoi submitted six loan applications through the Paycheck Protection Program but misrepresented the number of employees and payroll expenses for his startup company, Sosuda Tech. He also submitted fraudulent IRS tax forms to support his applications, they said.
The loan program was part of the Coronavirus Aid, Relief and Economic Security, or CARES, Act that allowed qualifying small businesses and other organizations to receive forgivable loans to cover payroll, mortgages, rent and utilities.
Buoi was able to obtain a $2 million loan before he was arrested in June 2020. Rollins’ office said the government has recovered nearly all of the money.
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Maryland’s highest court reviewing teen sniper’s life term
Topics in Legal News |
2021/08/29 10:57
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Maryland’s highest court has agreed to take up the case of Lee Boyd Malvo, who is serving life in prison for his role in the 2002 sniper spree that terrorized the Washington, D.C., region.
Malvo’s lawyers argue that his punishment goes against a 2012 Supreme Court ruling barring mandatory life sentences without parole for juvenile offenders and Malvo should benefit from Maryland’s new law enabling prisoners convicted as juveniles to seek release once they’ve served at least 20 years.
The state Court of Appeals granted a “bypass” review in Malvo’s case and that of two others serving life sentences for crimes committed as youths, news outlets report. The order issued Wednesday scheduled oral arguments to begin in January.
Malvo was 17 when he and John Allen Muhammad embarked on a killing spree that left 10 people dead and three wounded in Maryland, Virginia and the District of Columbia. Others were killed as the pair made their way to the D.C. region from Washington state. Muhammad was executed in 2009.
Malvo has claimed that the six life-without-parole terms he received in Maryland are illegal in light of U.S. Supreme Court decisions saying mandatory life-without-parole sentences are unconstitutional for juveniles except in rare cases.
His case may have new standing after Maryland’s General Assembly abolished life without parole for youths, overriding a veto by Gov. Larry Hogan. Virginia passed similar legislation last year. That change prompted Malvo to drop a legal appeal that had gone to the Supreme Court to determine if his life sentence should be rescinded.
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Bankruptcy proceedings can have long-term benefits
Topics in Legal News |
2021/07/22 11:05
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Chicago Bankruptcy Law Firm Covers Bankruptcy in the Wake of COVID-19
The COVID-19 pandemic has damaged the economy, leaving many families and business owners worried about how they will pay for even the most basic expenses. In the midst of this crisis, you might be considering filing for bankruptcy or wondering how COVID-19 will affect an existing bankruptcy filing.
No matter your situation, Chicago Bankruptcy Law Firm of Daniel J. Winter is here to help give you the answers and assistance that you need. We are more than happy to explain to anyone in financial distress exactly what their options are.
What Is Bankruptcy?
Bankruptcy is a Federal system of laws, rules, and procedures designed to help legal residents of the U.S. deal with their debts, which, for whatever reason, individuals or businesses cannot pay as they are due. The most common types of Bankruptcy are for people (called Consumer Bankruptcies).
Two major types of Consumer Bankruptcy are: Chapter 7 (liquidation or debt-elimination), Chapter 13 (wage-earner reorganization for individuals or people running unincorporated businesses).
Chapter 11 is a type of Corporate Bankruptcy (reorganization for businesses and certain individuals with extremely large amounts of debt). The Chapter number refers to the section of the Bankruptcy law, called the Bankruptcy Code (which is in Title 11 of the U.S. Code).
Bankruptcy cases almost exclusively fall under federal law, though states may pass laws governing issues that federal law doesn’t address. Special bankruptcy courts nationwide handle only debtor-creditor cases. Generally, any bankruptcy-related claim must be filed with the U.S. Bankruptcy Court.
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Nepal’s Supreme Court reinstates dissolved lower house
Topics in Legal News |
2021/07/12 10:18
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Nepal’s Supreme Court reinstated the House of Representatives on Monday and upheld the leader of the opposition’s claim to be the new prime minister.
The 167-page court order removes Prime Minister Khadga Prasad Oli, who had been running a caretaker government until planned elections.
In May, Oli directed the president to dissolve the House of Representatives, Parliament’s lower house, and announce new elections later this year. The decision was challenged in the Supreme Court by a coalition of opposition parties that said they had the support of a majority in Parliament to form a new government.
The Supreme Court also ruled Monday that the reinstated House of Representatives should meet within a week, when the leader of the main opposition party, Sher Bahadur Deuba, is expected to call a vote of confidence.
There was no immediate comment from Oli’s office or his aides.
Hundreds of Oli’s supporters gathered outside the Supreme Court to oppose the court decision.
“We are here to protest the unconstitutional decision by the Supreme Court, which was interfering with the affairs of the Parliament and its rights,” said one of the protesters, Ramesh Acharya.
The protesters briefly scuffled with riot police who were able to push them back. There were no injuries or arrests.
More protests are likely later in the week because Oli still has significant support among the public.
It is the second time the Supreme Court has reinstated the House of Representatives this year after it was dissolved by Oli.
He had the House of Representatives dissolved in December and called for new elections in April, but that was rejected by the Supreme Court and the lower house was reinstated in February. Oli again had the president dissolve the House of Representatives in May with elections planned for November.
Oli became prime minister in 2018 after the Communist Party of Nepal won a majority of the seats in the House of Representatives. The party, however, has had two splits this year, weakening Oli’s hold on power.
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Neville keeps seat in crowded primary for Supreme Court
Topics in Legal News |
2020/03/18 17:19
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Illinois Supreme Court Justice P. Scott Neville Jr. has won the primary election to keep his seat on the state’s highest court, emerging from a field of a six other Democrats.
No Republicans ran, making him the presumed winner in November for the 10-year term.
Democrat Charles Freeman, who died earlier this month at 86, held the post from 1990 to 2018, when he retired. He was the court’s first black judge. Neville, who is black, was appointed to complete the term. He was formerly an Illinois First District Appellate Court justice,
“Illinois’ population is diverse, and our courts, at all levels, should reflect our diversity,” Neville said in a Wednesday statement. “I applaud Cook County’s voters because your votes indicate that you are committed to diversity.”
The other challengers included five 1st District appellate justices: Cynthia V. Cobbs, Shelly A. Harris, Nathaniel Roosevelt Howse, Margaret Stanton McBride and Jesse G. Reyes. Also running was former private-practice attorney Daniel Epstein. |
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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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