Ponzi Scheme

Morning Docket

Morning Docket: 11.07.16

* There are many questions, but no answers, as Judge Merrick Garland's "final reckoning" approaches. His nomination will die if Republican presidential candidate Donald Trump is elected, but would he be confirmed in a lame-duck session if Democratic presidential candidate Hillary Clinton wins? In that case, if Senate Republicans refuse to confirm him after the election, will Clinton re-nominate him after she's sworn in? Will he ever receive a hearing? Someone please help this poor man. [Reuters] * With apologies to Judge Garland, the only thing that seems to remain certain is that Senate Republicans are firm in their stance that they'll continue to prevent the late Justice Antonin Scalia's seat on the Supreme Court from being filled. Senator John McCain, for example, asked supporters to re-elect him so he can assist his GOP brethren in "prevent[ing] that four-to-four split from tilting to the left." [Huffington Post] * According to FBI director James Comey, after review of additional emails found in an unrelated investigation into Anthony Weiner, there's still no evidence that Hillary Clinton should face any criminal charges over the handling of her email communications while she was Secretary of State. Voters can breathe a little easier now, because there will be no indictments coming for the Democratic presidential nominee. [New York Times] * Chadbourne & Parke has finally responded to partner Kerrie Campbell's $100M gender discrimination suit, and the firm didn't pull any punches, alleging that her practice area was a "poor fit" for the firm, that she "exhibited questionable legal judgment," and that its decision to ask her to leave was for "entirely legitimate and proper business reasons and without a scintilla of consideration being given to her gender." [WSJ Law Blog] * "No purpose will be served by letting him rot in prison for years on end." Judge Jed Rakoff, a longtime critic of federal sentencing guidelines, has sentenced Harvard Law School graduate-cum-Ponzi schemer Andrew Caspersen to four years in prison for his $38.5M fraud, even though prosecutors sought almost 16 years of time behind bars for his financial crimes -- a proposition which Rakoff referred to as "absurd." [Reuters] * E. Barrett Prettyman Jr., founder of the first appellate practice, RIP. [Hogan Lovells] * Janet Reno, first woman to serve as U.S. attorney general, RIP. [New York Times]

By Staci Zaretsky
Morning Docket

Morning Docket: 03.14.16

* Now that the Supreme Court shortlist has been whittled down to just three appellate judges, people are speculating as to whether we're on track to see our first Asian-American nominee. Sri Srinivasan, the front-runner whose "ethnic identity would be the real novel factor here," could be the high court's first Hindu justice. [Washington Post] * Those on the left, however, apparently have objections to Judge Srinivasan's nomination. During his time at both O'Melveny & Myers and the DOJ, he supported companies accused of gross human rights abuses -- a "deeply disturbing" record for someone being considered for SCOTUS. [The Hill] * Oopsie! Somebody wasted $250K! On Friday, Judicial Crisis Network launched an ad campaign against Judge Jane Kelly of the Eighth Circuit's possible nomination to the nation's highest court. You can "[t]ell your senator Jane Kelly doesn't belong on the Supreme Court" all you want, but this is a bit of a moot point now. [POLITICO] * Since "simply claiming that an attorney's conduct was fraudulent does not allow plaintiffs to circumvent attorney immunity," the Fifth Circuit tossed a suit alleging that Proskauer Rose and Chadbourne & Parke helped to conceal R. Allen Stanford's $7.2B Ponzi scheme. Stanford is serving a 110-year sentence. [Big Law Business / Bloomberg] * You snooze, you lose: "[W]e find it impossible not to conclude that [Nikita] Mackey slept, and was therefore not functioning as a lawyer during a substantial portion of the trial." The Fourth Circuit vacated a man's conviction and 30-year sentence because his lawyer slept "almost every day" of his trial, for at least 30 minutes. [WSJ Law Blog]

By Staci Zaretsky
Non-Sequiturs

Non-Sequiturs: 09.22.15

* The town of Collidge, Arizona, does not understand the establishment clause of the First Amendment... come to think of it, they aren't real clear on the exercise clause either, but that sure doesn't stop them from invoking it! [Wonkette] * Could Volkswagen's revelation (that they rigged their cars to beat emissions tests but then, in real life, pumped out emissions like a bloated redneck with IBS that's just been given a lifetime supply of baked beans) mean jail time for executives? [Mother Jones] * Are you a veteran thinking about law school? First of all, why? But if you're still interested, check out this upcoming Service to School even in D.C. to get the inside scoop. [Service to School] * Reagan may have been an actor by trade, but he sure spoke like a lawyer. [Guile is Good] * Don't know where to house refugees? How about the former Dachau concentration camps? The eminently practical, yet horrifying German solution. [The Guardian] * The papal visit starts today, and though expectations are high, there might be a nasty tax implication if the pontiff starts talking up Bernie Sanders too much. [TaxProf Blog] * When Americans talk about religious freedom, they do not mean Muslim Americans. No duh. [The Atlantic] * Book excerpt about the intersection of the girl who cried rape and lynching. [Jezebel] * Still care about the Kim Davis debacle? Well, she might be heading back to jail. [Slate] * If a Ponzi scheme is operated with Bitcoins, is it still a Ponzi scheme? [Dealbreaker]

By Kathryn Rubino
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]

By Staci Zaretsky
2nd Circuit

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]

By Staci Zaretsky
Intellectual Property

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]

By Staci Zaretsky
Airplanes / Aviation

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]

By Staci Zaretsky