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Court in NYC upholds insider trading conviction
Court News |
2013/07/02 09:35
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A stock trader nicknamed "the Octopussy" because he had access to so many sources of inside information was properly convicted and sentenced to 10 years in prison, a federal appeals court concluded Monday.
The 2nd U.S. Circuit Court of Appeals upheld the conviction of Zvi Goffer and two others in a case the government had once touted as the biggest insider trading prosecution in history.
In all, more than two dozen defendants were convicted, including a one-time billionaire whose hedge funds had commanded as much as $7 billion.
The Israeli-born Goffer was convicted with two others in 2011 in a conspiracy to pay bribes to two lawyers at a Manhattan law firm. The government said Goffer and others earned more than $10 million illegally.
Goffer, whose nickname is a reference to a James Bond film, was sentenced to 10 years in prison after prosecutors said he arranged to pay two attorneys nearly $100,000 in 2007 and 2008 for inside tips on mergers and acquisitions. Prosecutors said Goffer's network used prepaid cellphones to avoid detection and destroyed them after each successful tip.
His lawyers challenged his conviction and sentence on several grounds, including that wiretap evidence should have been suppressed, that jury instructions were erroneous and that Goffer was punished for refusing to plead guilty.
A three-judge panel of the Manhattan appeals court noted the novelty of using wiretaps in a securities fraud case as it rejected defense arguments that the law permitting wiretaps does not list securities fraud as an offense for which it can be used. |
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Court stays out of Planned Parenthood funding case
Court News |
2013/06/01 11:23
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Indiana will likely stop defending a law that stripped Medicaid funds from Planned Parenthood after the Supreme Court declined to hear the case Tuesday, an attorney who represents the nation's largest abortion provider said.
Indiana is among more than a dozen states that have enacted or considered laws to prevent taxpayers' money from funding organizations that provide abortion. The 7th U.S. Circuit Court of Appeals ruled Oct. 23 that the law targeting Planned Parenthood went too far because it denied women the right to choose their own medical providers.
"I assume at this point the state will give up in its claim that that portion of the statue is valid under the Social Security Act," said Ken Falk, legal director of the American Civil Liberties Union of Indiana. The case now returns to U.S. District Judge Tanya Walton Pratt, who granted the initial preliminary injunction to temporarily block the law, precipitating the state's appeals.
Neither the state senator who sponsored the bill or the Family and Social Services Administration - the agency tasked with enforcing the law - had immediate comment.
"My office always contended this is ultimately a dispute between the state and federal government, not between a private medical provider and the state," Indiana Attorney General Greg Zoeller said in a statement. Zoeller's office handled the state's appeal. |
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Court strikes down Arizona 20-week abortion ban
Court News |
2013/05/23 22:25
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A federal court in San Francisco Tuesday struck down Arizona's ban on abortions after 20 weeks of pregnancy.
The 9th U.S. Circuit Court of Appeals ruled that the law violates a string of U.S. Supreme Court rulings starting with Roe v. Wade that guarantees a woman's right to an abortion before a fetus is able to survive outside the womb. That's generally considered to be about 24 weeks. Normal pregnancies run about 40 weeks
Several states have enacted similar bans starting at 20 weeks. But the 9th Circuit's ruling is binding only in the nine Western states under the court's jurisdiction. Idaho is the only other state in the region covered by the 9th Circuit with a similar ban.
A trial judge had ruled that the ban could take effect. U.S. District Judge James Teilborg ruled it was constitutional, partly because of concerns about the health of women and possible pain for fetuses.
But abortion-rights groups appealed that decision, saying the 20-week ban would not give some women time to carefully decide whether to abort problem pregnancies.
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Evidence challenged: Miss. court blocks execution
Court News |
2013/05/13 23:51
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The Mississippi Supreme Court has indefinitely delayed Tuesday's scheduled execution of Willie Jerome Manning amid questions involving evidence in the case, intervening hours before he was set to die for the slayings of two college students.
Manning, who had challenged errors involving evidence analysis, was originally set to receive a lethal injection at 6 p.m. CDT at the state prison in Parchman. But with mere hours remaining, the high court blocked the execution until it rules further in the case.
Manning was convicted in 1994 in the shooting deaths of two Mississippi State University students, Jon Steckler and Tiffany Miller. Their bodies were found in a rural area in December 1992.
The FBI has said in recent days that there were errors in agents' testimony about ballistics tests and hair analysis in the case.
Manning's lawyers had argued in recent filings before the Mississippi Supreme Court that the execution should be blocked based on the U.S. Justice Department's disclosures about testimony that it says exceeded the limits of science.
The court ruled 8-1 on Tuesday for a stay. The court had previously split 5-4 in decisions in the case.
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