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Supreme Court wrestles with administrative law judge case
Press Release |
2018/04/21 00:34
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The Supreme Court wrestled Monday with a case brought by a former financial adviser known for his "Buckets of Money" strategy who is challenging the appointment of the administrative law judge who ruled against him.
The case involves the Securities and Exchange Commission's administrative law judges, who conduct hearings on alleged securities law violations and issue initial decisions. The federal government employs administrative law judges in more than 30 agencies, however, giving the case the potential to have a broader impact.
During arguments Monday, Justice Anthony Kennedy wanted to know "what effect, if any" the case would have on administrative law judges in other agencies. Attorney Mark Perry suggested that the court's decision could impact some 150 administrative law judges in 25 agencies.
The question the justices are being asked to decide is whether the SEC's administrative law judges are SEC employees or instead "inferior officers" of the United States. The answer is important in determining who can appoint them to their positions.
The case before the Supreme Court involves former financial adviser Raymond J. Lucia, who as a radio show host, author and seminar leader promoted a retirement strategy he called "Buckets of Money." Lucia's strategy was that in retirement investors should first sell safer investments, giving riskier investments time to grow.
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Top EU court : Members can ban taxi services like UberPop
Press Release |
2018/04/06 02:10
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The European Union’s top court has ruled that member states can ban taxi services like UberPop without prior notification to the Commission.
The ruling came after France banned the UberPop service, which allowed drivers without a taxi license to pick up passengers, in 2014 to avoid unfair competition. A court in the French city of Lille then asked the European Court of Justice whether French authorities should have notified the Commission before passing the law.
The court said in a statement Tuesday that member states “may prohibit and punish the illegal exercise of a transport activity such as UberPop without having to notify the Commission in advance of” any laws penalizing such services. It’s another blow for Uber after the ECJ ruled it should be regulated like a taxi company. |
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Prosecutors ask court to imprison Samsung heir for 12 years
Press Release |
2017/07/30 23:54
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South Korean prosecutors have recommended a 12-year jail term for Lee Jae-yong, 49-year-old billionaire heir of the Samsung business empire, urging a court to convict him of bribery and other crimes.
Lee, vice chairman of Samsung Electronics, became emotional Monday as he denied ever trying to seek political favors in his final remarks in the four-month-long trial. Lee was arrested in February amid a tumultuous corruption scandal that triggered months of massive public protests and culminated with the ouster of South Korea's president.
A panel of three judges at the Seoul Central District Court said they will hand down their verdict on Aug. 25.
Lee, princeling of South Korea's richest family and its biggest company, choked up during his final remarks, saying his ordeal was unjust but he had reflected during his six months in jail and realized that the bigger Samsung became, "the stricter and higher the expectations from the public and the society," a pool report from Monday's hearing said.
"Whether it was for my personal profit or for myself, I have never asked the president for any favors," he told the court.
In his remarks wrapping up the trial, Special Prosecutor Park Young Soo said Samsung's alleged bribery was typical of the corrupt and cozy ties between the South Korea's government and big businesses. Such dealings once helped fuel the country's rapid industrialization but now increasingly are viewed as illegal and unfair.
Park also accused Samsung officials of lying in their testimonies to protect Lee.
In past cases, South Korean courts have often given suspended prison terms to members of the founding families of the chaebol, the big, family-controlled businesses that dominate South Korea's economy. In some cases, presidents have pardoned them, citing their contributions to the national economy. But recent rulings on white collar crimes have shown less leniency. If convicted, Lee may be the first in his family to serve a prison term.
Lee was indicted in February on charges that included offering $38 million in bribes to four entities controlled by a friend of then-President Park Geun-hye, including a company in Germany set up to support equestrian training for the daughter of one of Park's friends, Choi Soon-sil.
Prosecutors alleged the bribes were offered in exchange for government help with a merger that strengthened Lee's control over Samsung at a crucial time for organizing a smooth leadership transition after his father fell ill.
Park was removed from office in March and is being tried separately. Her friend Choi also is on trial.
Lee has denied all charges. He has said he did not know of Choi or her daughter before the scandal grabbed national headlines and said Samsung's succession situation was not discussed during three meetings he held with the former president.
Samsung's lawyers do not contest having donated a large sum of money to the entities controlled by Choi. They disagreed with the prosecutors about the nature of the funds and insisted that at the time the donations were made Samsung was unaware that Choi controlled them. |
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Rhode Island high court vacates conviction in triple slaying
Press Release |
2017/06/23 03:26
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Rhode Island's highest court has overturned the conviction of a 21-year-old man serving two consecutive life sentences for a 2012 triple slaying at a housing complex.
Authorities allege the then-16-year-old Quandell Husband had plotted with three others to rob a marijuana dealer at a Providence apartment. Shemeeka Barros, her boyfriend Michael Martin— who was the primary target — and their friend, Damien Colon, were fatally shot. Husband was convicted of three murder counts in 2014.
The state Supreme Court on Wednesday found that the Superior Court judge abused his discretion by allowing the jury to consider "enormously prejudicial" evidence that shouldn't have been admitted at the trial.
The case has been sent back to Superior Court. The attorney general's office says the state is prepared to move forward and retry the case.
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