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Another revisit to Madoff and his charity stakeholders - has an upgrade in compliance compromised auditor independence for Yeshiva University?

Fox Rothschild LLP
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USA
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March 16 2010

This Installment is Part III of an analysis of recent public financial reporting of Hadassah and Yeshiva

Ninth Circuit holds that foreign records certificate of authentication may be admitted without violating confrontation clause

Fox Rothschild LLP
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USA
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November 27 2012

Recently, in United States v. Anekwu, 695 F.3d 967 (9th Cir. 2012), the Ninth Circuit addressed a question left unaddressed by the Supreme Court and never previously tackled by the Ninth Circuit: are certificates of authentication and accompanying affidavits authenticating foreign public records and foreign business records testimonial?

Will JASA become more forthcoming in disclosing its substantial losses and risks from investing with Madoff? - Installment 62

Fox Rothschild LLP
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USA
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November 1 2011

Installment 61 of this blog series on Madoff discussed the $5.2 million clawback lawsuit (the “JASA Lawsuit”) recently filed by Trustee Irving Picard against Jewish Association for Services for the Aged (“JASA”), reaffirming the perplexing and inconsistent manner, virtually to the point of arbitrariness and unfairness, with which Picard has handled charities that invested with Madoff

A revisit to the Lautenberg Private Foundation Lawsuit vs. Peter Madoff - installment 28

Fox Rothschild LLP
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USA
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June 8 2010

This is the twenty-eighth in a series of installments on this blog that are discussing some of the issues arising in the aftermath of the Ponzi scheme perpetrated by Bernard L. Madoff (“Bernard”

Third Circuit permits government to bolster informant's credibility by introducing testimony about other convictions in same sting operation

Fox Rothschild LLP
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USA
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November 1 2010

In a recent post here we commented on the perplexing affirmance in a recent case in which the Third Circuit agreed that a government cooperating witness could speculate in his testimony regarding what a defendant knew or thought in a given conversation about the accuracy of tax returns signed by that defendant

Complications in loss analysis lead sentencing judge to abandon restitution altogether and to eschew victim loss in favor of lesser defendant gain in calculating the Sentencing Guidelines

Fox Rothschild LLP
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USA
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December 20 2012

In bank fraud cases, sentencing courts are obliged under the advisory Sentencing Guidelines to fix the "loss" at the greater of actual or intended loss to the victim, and to resort to the (usually more defendant-friendly) lesser gain from the offense only if that loss "reasonably cannot be determined."

PicardWilponsMets - Friday the 13th becomes a propitious day for the Mets ownership - Installment 74

Fox Rothschild LLP
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USA
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April 14 2012

Shortly before midnight last night Adam Rubin of ESPN reported that Madoff Trustee Irving Picard had filed court papers seeking approval of the settlement (the “Settlement”), which was reached on March 19, 2012 with numerous defendants, constituting the Wilpon-Katz-Mets individual, business, family trust and charitable interests (the “Wilpons”

Under pressure from courts, SEC toughens its policy on no-admit settlements

Fox Rothschild LLP
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USA
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January 9 2012

For years, the Securities and Exchange Commission has settled cases using a standard disclaimer stating that the defendant neither admits nor denies wrongdoing

While state taxing authorities continue to battle with Madoff investors, the New Jersey Tax Court again favors a victim - Installment 81

Fox Rothschild LLP
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USA
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July 6 2012

Installment 63 of this blog series reported that New Jersey Tax Court Judge Gail Menyuk, in an unpublished memorandum opinion (Dalton v. Director, Division of Taxation, NJTC Docket No. 020540-2010) (the “Dalton Case”), disagreed with the position of the Division of Taxation of New Jersey (the “Division”) to find that, under the circumstances of the Dalton Case, investors in the long-running Ponzi scheme of Bernard L. Madoff and his related entities (collectively, “Madoff”) could file amended tax returns for income tax refunds applicable to open tax years

Perpetrating fraud via a website, with end users in different states, gives rise to federal wire fraud liability the Tenth Circuit holds

Fox Rothschild LLP
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USA
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July 10 2012

The Tenth Circuit recently held that a defendant’s operation of an internet website, which was uploaded, hosted, and accessed from different states, in furtherance of his fraudulent practice of law, was sufficient interstate to support a wire fraud conviction in United States v. Kieffer

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