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A Second Mistrial for Cendant Executive
The prosecution of former Cendant executive Walter Forbes ended in a second mistrial after 27 days of jury deliberations. Forbes was CEO of CUC International before its merger with HFS, which created Cendant. Shortly after the merger, details of significant accounting fraud at CUC emerged, leading to multibillion dollar settlements of securities fraud civil suits…
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Will the Tax Man Come Looking for the Gretzkys?
An AP story (here) reports that hockey great Wayne Gretzky, the coach and co-owner of the Phoenix Coyotes, is captured on tape discussing large-scale betting by his wife, Jenny Jones, with assistant coach Rick Tocchet. The gambling ring Tocchet is alleged to have financed took in approximately $1.7 million from the end of December 2005…
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The Campbell Trial Takes a Sordid Turn
The RICO corruption trial of former Atlanta Mayor Bill Campbell took a sordid turn when the government called Marion Brooks, who had been a television anchor in Atlanta in the late 1990s, to discuss Campbell’s lavish spending during their secret four-year affair. The government is trying to establish that Campbell took large sums of cash…
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Potential Hiding of Losses At Omnicom
The Wall Street Journal reports (here) that advertising firm Omnicom Group Inc. transferred internet assets to a "special purpose entity" in 2001 that may have been almost worthless at the time, but did not account for the decline in value by recognizing a loss. The documents came to light in connection with discovery in a…
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Is Boies Being Investigated?
A Wall Street Journal article (here) with the headline "Judge Orders Probe Into Boies Firm" discusses the Adelphia Communications bankruptcy in which David Boies was accused of failing to disclose a conflict of interest in connection with recommending two document-management companies to assist Adelphia in the case. The two companies, Amici LLC and Echelon Group…
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Sex, Drugs, and Corruption
Lonoke, Arkansas, a town of 4,300 east of Little Rock, has a bit of a leadership crisis this week. On Feb. 6, the mayor, the police chief and his wife, and two bail bondsmen were arrested for alleged conduct that might seem too outlandish for a Desperate Housewives episode. The mayor is accused of having…
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Tocchet on the Docket
Former NHL player and current Phoenix Coyotes assistant coach Rick Tocchet (career stats here) will be arraigned in Burlington County, New Jersey, on charges that he financed a large-scale gambling operation. Two other defendants, including a New Jersey state trooper, will also be arraigned in the next week to ten days, after which a grand…
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Abramoff and Rove
Rove, still uncertain of his status in the Plame investigation, now seems to be having media issues related to his association with Jack Abramoff. The Wall Street Journal reports here that a conservative group is upset that the white house will not release information on its association with Jack Abramoff. And the article talks about…
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Governor Ryan’s Trial
While the Enron trial has been moving quickly, in the north, Governor Ryan’s case is moving slowly. The latest, as reported by the Chicago Tribune here is the admission of a log that displays a long list of gifts received by Ryan. So it looks like he received some beanie babies as gifts. Were…
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The Private (and now Public) Eye Case
Everyone is talking about it. Yes, as AP reports here Anthony Pellicano, the private eye for many Hollywood stars, after finally finishing a firearms related sentence was arrested on federal wiretap charges. Check out the Wall Street Journal Blog here and here. And now, to add to all the commotion, we see that Attorney Bertram…
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