Ponzi Scheme

  • gradenfreude

    Morning Docket

    Morning Docket: 12.15.14

    * Thanks to a former Skadden attorney’s failed attempt to kill himself, police were able to retrieve a suicide note — entitled “A Sad Ending to My Life” — that revealed the lawyer’s $5M Ponzi scheme. We may have more on this later. [Am Law Daily]

    * “I’m not one who believes there are too many lawyers in the country,” says Dean Thomas Guernsey of Thomas Jefferson Law. Conveniently, only 29% of TJSL’s ’13 grads are working in full-time, long-term jobs as lawyers. Kudos! [U-T San Diego]

    * The government just paid the least amount of money to legal services contractors since 2008. As far as Biglaw firms are concerned, Curtis Mallet-Prevost posted “significant losses,” receiving $2M less than it did in 2013. [National Law Journal]

    * Because not everyone wears gas masks, a federal judge issued a temporary restraining order to keep police from using tear gas on peaceful protestors in Ferguson without first issuing “clear and unambiguous warnings.” [WSJ Law Blog]

    * Ladies and gentlemen, this is the main event of the evening! IT’S TIME! FIGHTING out of the blue corner, angry UFC combatants who are planning to use “renowned” antitrust firms to secure “hundreds of millions of dollars”! [Bloody Elbow / SB Nation]

    16 Comments / / Dec 15, 2014 at 9:03 AM
  • Gavel and Banana Peel on Gradated Background with Selective Focus - Lawsuit Concept.

    Attorney Misconduct, Bar Exams, Law Professors, Legal Ethics, Securities and Exchange Commission

    Law School Professor Busted Lying To Federal Judge, Goes Back to Teaching Ethics

    The scandal may not bring down this professor, but failing as a professor just might.

    15 Comments / / Nov 13, 2013 at 5:51 PM
  • angry-judge-e1337103378136-RF

    Attorney Misconduct, Crime, Legal Ethics, Money, Plaintiffs Firms, Politics, Reader Polls, Tax Law

    Lawyers Of The Day: Attorneys Allegedly Acting Up

    Allegations of a high-ranking government lawyer abusing the perks of his office, a tax lawyer engaging in tax fraud, and a real estate lawyer stealing $4 million — who should be Lawyer of the Day?

    14 Comments / / Oct 18, 2013 at 2:31 PM
  • NCAA Football 14 USE

    2nd Circuit, Bankruptcy, Bernie Madoff, Biglaw, Crime, D.C. Circuit, Dewey & LeBoeuf, Federal Judges, Football, Morning Docket, Partner Issues, Real Estate, Sandra Day O'Connor, Sports, Ted Olson, Television, Trials, Video games

    Morning Docket: 09.27.13

    * Sri Srinivasan was sworn in as a member of the D.C. Circuit by Justice Sandra Day O’Connor, who called him “fair, faultless and fabulous.” The man must have great shoes. [Washington Post]

    * Things aren’t going very well for Steven Donziger in the Chevron / Ecuador case now, but then again, they never are. The Second Circuit denied his bid to oust the judge on the case. [Bloomberg]

    * Dewey know how much this failed firm’s ex-landlord wants from 450 of its former partners? Somewhere in the ballpark of $1.6 million to $45.45 million, so it could be painful. [Am Law Daily]

    * Kilpatrick Townsend & Stockton has already named a new chairman. Congrats to J. Henry Walker IV, a man whose name alone makes it sound like he should probably leading something. [Daily Report]

    * Time is running out for prosecutors to bring charges against those connected to Bernie Madoff’s Ponzi scheme, but it looks like his niece, a Fordham Law grad, is in their sights. [DealBook / New York Times]

    * The series finale of Breaking Bad airs on Sunday, and you must be very sad, so here are five compliance lessons to take away from the show. First and foremost, don’t ever hire a Pinkman. [Corporate Counsel]

    * E.A. Sports and the Collegiate Licensing Company settled the suit filed against them by college athletes, leaving the NCAA to whine, moan, and “take this all the way to the Supreme Court.” [Birmingham News]

    * George Zimmerman’s wife says her husband “went on a victory tour” without her, and has no idea where he is. Clue: maybe he was advising Cybill Shepherd for her role on Law & Order next week. [Miami Herald]

    2 Comments / / Sep 27, 2013 at 9:16 AM
  • BernardMadoff-RF

    Bernie Madoff, Laura Taylor Swain, Pictures, S.D.N.Y., Technology, Trials

    Bernie Madoff’s Giant Screw: Is Photoshop A Proper Rule 403 Remedy?

    A federal judge tells prosecutors to use Photoshop to remove an item from a picture. But is changing the totality of the image the same as excluding prejudicial evidence?

    13 Comments / / Sep 26, 2013 at 1:45 PM
  • Intellectual Property, Law Schools, Morning Docket, Musical Chairs, Securities and Exchange Commission, Securities Law, Sex Scandals, Texas

    Morning Docket: 07.24.13

    * Bernard Knight Jr., general counsel of the U.S. Patent and Trademark Office, will be taking his intellectual property talents to McDermott Will & Emery as a new — and rather cute — partner. Congratulations! [Corporate Counsel]

    * The Securities and Exchange Commission has charged a Texas man in a Monopoly money Bitcoin-related Ponzi scheme. Unfortunately for him, the associated jail time for the crime isn’t virtual. [Wall Street Journal (sub. req.)]

    * When applying to law school, it’s wise to have a unique personal statement topic. But considering the application cycle, you could probably get away with writing “LOL” and still get into the school of your choice. [Law Admissions Lowdown / U.S. News]

    * Russia has granted NSA leaker Edward Snowden a pass to leave the Moscow airport’s transit zone. Be prepared to welcome borscht into your life, and be sure to always say spasibo. [Associated Press]

    * Sorry folks, but Carlos Danger, more popularly known as Anthony Weiner, won’t be pulling out of the New York City mayoral race. I, for one, would love to see his AMAs on Reddit. [New York Times]

    * It looks like Aaron Hernandez shot himself in the foot when lawyering up for a civil suit where he’s accused of shooting someone in the eye. His attorney specializes in banking litigation. [USA Today]

    22 Comments / / Jul 24, 2013 at 9:15 AM
  • bernie madoff RF

    Bernie Madoff, Money, Quote of the Day, Securities and Exchange Commission, Securities Law, Wall Street

    Who’s the Idiot Now, Bernie?

    This infamous Ponzi schemer has some advice for the SEC.

    6 Comments / / Jun 5, 2013 at 3:05 PM
  • Madoff Mansion 3

    Bernie Madoff, Lawyerly Lairs, Money, Real Estate, Wall Street, White-Collar Crime

    Lawyerly Lairs: A Multimillion-Dollar Madoff Mansion

    Peter Madoff, the lawyer who served as “chief compliance officer” for Ponzi schemer Bernie Madoff, used to live in this big house (before getting sent to the Big House).

    4 Comments / / May 28, 2013 at 6:19 PM
  • airplane

    Airplanes / Aviation, Antitrust, Antonin Scalia, Attorney Misconduct, Bankruptcy, Bernie Madoff, Biglaw, Department of Justice, Dewey & LeBoeuf, Legal Ethics, Mergers and Acquisitions, Money, Morning Docket, Partner Issues, Politics, SCOTUS, Sonia Sotomayor, Supreme Court

    Morning Docket: 02.14.13

    * She loves me, she loves me not: media darling Sonia Sotomayor used to be in favor of the use of cameras during Supreme Court arguments, but she’s done a complete about-face on the issue, just like Justice Elena Kagan before her. [National Law Journal]

    * Everyone and their mother knows what Antonin Scalia thinks of the State of the Union address, but let’s find out what my colleague Elie Mystal thinks about the good justice’s antics — namely, Scalia’s non-attendance for the past sixteen years. [HuffPost Live]

    * American Airlines and US Airways will be merging to create the largest (and most awful) airline in the country. Perhaps the DOJ’s antitrust division can save us from this parade of horribles. [DealBook / New York Times]

    * It looks like Team Togut is going to have a crappy Valentine’s Day. They thought that their partner problems were all wrapped up, but according to these filings, it seems that they’ve only just begun. [Am Law Daily]

    * If Irving Picard, the trustee in charge of the Bernie Madoff bankruptcy case, is able to get his way, money will soon be raining upon the victims of the massive Ponzi scheme at warp speed. [WSJ Law Blog (sub. req.)]

    * This probably isn’t just a “distraction” or “silly sideshow” anymore, because Apple now says it will be fighting Greenlight’s attempt to block the tech company from restricting its issuance of preferred stock. [Bloomberg]

    * Instragram has asked a federal court to toss a lawsuit over changes to the photo-sharing app’s terms of service because it contests that users still own the rights to all of their fugly Walden-filtered pictures. [Reuters]

    * Remember Kenneth Kratz, the former Wisconsin prosecutor who referred to himself as “the prize”? He’s settled his sexting suit with Stephanie Van Groll, also known as the “hot nymph.” [Twin Cities Pioneer Press]

    * Go to grad school at Lehigh for free: check. Sue for $1.3M over your C+: check. Get chastised by a judge over your ridiculous lawsuit: check. Whatever, we still beat Duke, and that’s really all that matters. [Morning Call]

    5 Comments / / Feb 14, 2013 at 9:17 AM
  • 'Jail? No thank you.'

    Biglaw, Deaths, Law School Deans, Law Schools, Lindsay Lohan, Money, Morning Docket, Partner Profits, Securities Law

    Morning Docket: 02.01.13

    * Congratulations to Cadwalader Wickersham & Taft! The firm saw its first revenue increase in three years, with profits per partner jumping up 11.6 percent, yet they didn’t top Cravath’s bonuses. Rude. [Am Law Daily]

    * Thanks to the firm’s association with Ponzi schemer Nevin Shapiro, Shook Hardy & Bacon was accused of aiding and abetting in securities law violations and is facing a multimillion-dollar suit. [Miami Herald]

    * Lawyer glut? What lawyer glut? Let’s open some new law schools, yayyyy!!! Despite the fact that applications are at their lowest in a decade, new schools are still throwing their doors open wide. [Wall Street Journal]

    * With the dean of Seattle University School of Law stepping down, Annette Clark, she of the most epic St. Louis University Law resignation letter, may get a second bite at the proverbial deanship apple. [National Law Journal]

    * “Flattery doesn’t get you anywhere in this court.” Wooing the judge won’t work, so Lindsay Lohan’s new lawyer has a tough row to hoe — he had to pick up Shawn Holley’s pieces AND deal with his client. [Fox News]

    * Ed Koch, former mayor of New York City and judge of “The People’s Court,” RIP. [New York Times]

    0 Comments / / Feb 1, 2013 at 9:05 AM
  • middle finger lights

    ACLU, Antonin Scalia, Bernie Madoff, Biglaw, Crime, Deaths, Federal Judges, Football, Free Speech, Law Schools, Mergers and Acquisitions, Morning Docket, Partner Issues, Prisons, Robert Bork, Ruth Bader Ginsburg, SCOTUS, Sentencing Law, State Judges, Supreme Court

    Morning Docket: 12.21.12

    * Seven out of nine sitting Supreme Court justices were silent when it came to the passing of Robert Bork. Justice Antonin Scalia, of course, issued a public statement, as did liberal Justice Ruth Bader Ginsburg (surprise!). [WSJ Law Blog (sub. req.)]

    * No one ever really doubted that it would take an army of Biglaw lawyers from the likes of Sullivan & Cromwell, Shearman & Sterling, and Wachtel Lipton to handle a monumental deal like the proposed $8.2 billion NYSE/ICE merger. [Am Law Daily]

    * Can you coach with Nick Saban and be a Miller Canfield partner at the same time? No. But you can sue (and win!) when the firm allegedly forces you out due to its “culture of fear and intimidation.” [Detroit Free Press]

    * Justice Rolando Acosta, who wrote the opinion upholding the dismissal of the class action case against NYLS, rates well among his peers as a nominee for the New York Court of Appeals. [New York Law Journal]

    * Peter Madoff was sentenced to ten years in prison for his role in Bernie Madoff’s Ponzi scheme, but the judge will probably let him go to his granddaughter’s bat mitzvah before shipping him to the pokey. [Bloomberg]

    * Merry Christmas, now go f**k yourself. A federal judge has given a woman in Louisiana free rein to display holiday lights on her roof in the form of an extended middle finger. God bless America. [CBS 3 Springfield]

    7 Comments / / Dec 21, 2012 at 9:07 AM
  • hammer-ring

    American Bar Association / ABA, Bankruptcy, Biglaw, Crime, Dewey & LeBoeuf, Divorce Train Wrecks, Law Schools, Morning Docket, Sentencing Law, Texas, UVA Law

    Morning Docket: 12.20.12

    * “As a lawyer, this is very sad for me.” Al Togut, the prominent attorney pulling all of the strings behind the curtain of the Dewey & LeBoeuf bankruptcy filings, wishes that there was some way that the firm could’ve been saved. [Am Law Daily]

    * Guys at my law school used to break into the registrar’s office to steal transcript paper all the time; it was no big deal. No really, as far as sentencing goes, apparently doing such a thing isn’t that big of a deal in Virginia. [Daily Progress]

    * That’s some nice lipstick you’ve got there, pig: Lincoln Memorial University’s Duncan School of Law is still trying to get ABA accreditation by changing everything it can, including its lax admissions standards. [Knoxville News Sentinel]

    * Even though Peter Madoff’s supporters showered the court with with letters filled with compliments ahead of his sentencing, the Ponzi victims aren’t exactly showing him the same kind of love. [WSJ Law Blog (sub. req.)]

    * This law firm in Texas is trying to make getting divorced a more pleasurable experience, so they invented something called the “Divorce Resort” — because there’s nothing like a four-star train wreck. [Huffington Post]

    2 Comments / / Dec 20, 2012 at 9:05 AM
  • I'll miss you the most, cupcake.

    Bankruptcy, Biglaw, Billable Hours, Deaths, Federal Judges, Food, FTC, Google / Search Engines, Money, Morning Docket, Partner Issues, Privacy, Venable

    Morning Docket: 11.19.12

    * Billable hours in Biglaw are down 1.5 percent, and 15 percent of U.S. firms are planning to reduce their partnership ranks in early 2013. Thanks to Wells Fargo for bringing us the news of all this holiday cheer! [Thomson Reuters News & Insight]

    * Hostess may be winding down its business and liquidating its assets, but Biglaw will always be there to clean up the crumbs. Jones Day, Venable, and Stinson Morrison Hecker obviously think money tastes better than Twinkies. [Am Law Daily]

    * How’s that “don’t be evil” thing working out for you? Google’s $22.5M proposed privacy settlement with the FTC over tracking cookies planted on Safari browsers was accepted by a federal judge. [Bloomberg]

    * Greenberg Traurig and Hunton & Williams face a $7.2B suit from Allen Stanford’s receiver over a former attorney of both firms’ alleged involvement in the ex-knight’s Ponzi scheme. [Houston Business Journal]

    * Perhaps the third time will be the charm: ex-Mayer Brown partner Joseph Collins was convicted, again, for helping Refco steal more than $2B from investors by concealing the company’s fraud. [New York Law Journal]

    * H. Warren Knight, founder of alternative dispute resolution company JAMS, RIP. [National Law Journal]

    1 Comment / / Nov 19, 2012 at 9:25 AM
  • ATL-Lawyer-Meme

    Attorney Misconduct, Biglaw, Copyright, Disasters / Emergencies, Food, Intellectual Property, Law School Deans, Law Schools, Legal Ethics, Morning Docket, Trademarks

    Morning Docket: 11.14.12

    * “[T]here is only so far you can go when representing clients.” David Tamman, the ex-Nixon Peabody partner who was “thrown under the bus” by the firm, was found guilty of helping a client cover up a $20M Ponzi scheme. [Thomson Reuters News & Insight]

    * You surely must remember former UT Law dean Larry Sager and his controversial $500K forgivable loan. Well, as it turns out, the school is now condemning the practice as inappropriate, and calling for its permanent suspension. [Texas Tribune]

    * Someone finally sued a power company over its horrendous response to Hurricane Sandy. Long Island Power Authority should’ve seen this lawsuit coming, but was woefully unprepared. Figures. [Bloomberg]

    * I can haz copyright infringement? Internet memes are all the rage — we even had our own contest — but you may find yourself wading into dangerous intellectual property waters with improper use. [Corporate Counsel]

    * Papa John’s is facing a $250M class-action lawsuit for spamming its customers with text messages advertising deals. With share prices dropping, it must suck to be Peyton Manning right now. [CNNMoney]

    3 Comments / / Nov 14, 2012 at 9:07 AM
  • Someone's excited about fashion law!

    8th Circuit, 9th Circuit, Abortion, Bankruptcy, Barack Obama, Biglaw, Celebrities, Constitutional Law, Copyright, Deaths, Fashion, Kiwi Camara, Law Professors, Law Schools, Money, Morning Docket, Richard Epstein

    Morning Docket: 09.12.12

    * Good news, everyone! According to Citi’s Managing Partner Confidence Index survey, firm leaders are feeling pessimistic about their business due to an overall lack of confidence in the economy. [Am Law Daily]

    * Per the Ninth Circuit, an Idaho statute that essentially criminalizes medication-induced abortions imposes an undue burden on a woman’s ability to terminate her pregnancy. Really? You don’t say. [Bloomberg]

    * Kiwi Camara’s circuitous route to SCOTUS: thanks to the Eighth Circuit, Jammie Thomas-Rasset started and ended her journey with $222K damages for copyright infringement. [Thomson Reuters News & Insight]

    * “Fashion law is a real career choice,” says Gibson Dunn partner Lois Herzeca. This niche practice area is one of the hottest new trends in the wonderful world of fashion, and it’s not likely to go out of style any time in the remote future. [Reuters]

    * Your clawback suit is a wonderland? John Mayer was named as a defendant in a suit filed by trustees seeking to recover money paid out by Ponzi schemer Darren Berg. [Bankruptcy Beat / Wall Street Journal]

    11 Comments / / Sep 12, 2012 at 9:06 AM
  • juggalo law sports RF

    Celebrities, Divorce Train Wrecks, Family Law, Football, Reality TV, Securities and Exchange Commission, Sports

    Sports Law, Spaw, Lorts: Mostly Football Extravaganza

    In today’s sports law column: Chad Johnson, workers’ compensation in the NFL, and Jim Donnan.

    8 Comments / / Aug 17, 2012 at 1:47 PM
  • paul campos RF small

    Job Searches, Law Professors, Law Schools, Quote of the Day, Unemployment

    Quote of the Day: Robbing Peter to Pay Paul

    Is being employed by your law school after graduation similar to a Ponzi scheme?

    7 Comments / / Aug 7, 2012 at 5:35 PM
  • Bernie Madoff, Crime, Sentencing Law, Wall Street, White-Collar Crime

    Sir Allen Stanford, Sentenced

    How much of a sentence did Ponzi schemer Allen Stanford get? Was it bigger than Bernie Madoff’s?

    / Jun 14, 2012 at 1:45 PM

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