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Mo. court rejects challenge to land tax credits
Court Watch News |
2011/08/03 08:46
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A developer promising a multi-billion dollar makeover for impoverished north St. Louis won a legal battle Tuesday as the Missouri Supreme Court rejected a challenge to a state law directing tens of millions of dollars of tax credits toward his project.
The seven-member Supreme Court was divided in its reasoning but united in the ultimate result of its ruling, which secures state financing for the developer to assemble and maintain large swaths of land. Eventually, Paul McKee's NorthSide Regeneration LLC wants to build 10,000 homes and millions of square feet of office space in a two-square-mile area north of downtown St. Louis.
A lawsuit by two local residents took issue with a 2007 state law enacted with McKee's project in mind. That law authorizes up to $95 million of tax credits to offset part of the cost of buying and maintaining large amounts of property in impoverished areas. NorthSide Regeneration so far has received about $28 million in tax credits.
Tax credits reduce the amount of state income tax owed by a taxpayer. The lawsuit claimed the credits were similar to getting cash from the state and thus violated the Missouri Constitution by granting public money to a private person or corporation. A Cole County judge ruled against the plaintiffs in March 2010 and the case was appealed to the state Supreme Court. |
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Fresno DA charges woman after deadly bus crash
Court Watch News |
2011/07/20 09:24
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A woman accused of providing alcohol to a teenage driver who caused a deadly Greyhound bus crash has been charged with a misdemeanor, officials said Tuesday.
Michelle Kay Cole, 22, was charged with purchasing an alcoholic beverage for a person under 21 resulting in death, Fresno County District Attorney Elizabeth Egan said at a news conference.
Cole was cited Monday but not arrested, Egan said. She could face up to six months in jail and a $1,000 fine if convicted.
A California Highway Patrol report placed sole blame for the crash on 18-year-old Sylvia Garay. Investigators said she was drunk when her SUV hit a concrete barrier and overturned on Highway 99 on July 22, 2010.
The oncoming bus, carrying 31 passengers on a route from Los Angeles to Sacramento, struck the SUV, skidded into a concrete center divider, then tumbled down a 15-foot embankment and plowed into a eucalyptus tree shortly after 2 a.m. a few miles from downtown Fresno.
Garay, her two passengers and three people on the bus were killed. Authorities say Garay had a blood alcohol level of .11 when she died. The legal limit is .08.
The CHP report said the bus driver had no way to avoid the SUV, which was left without lights when it overturned. |
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Ex-CEO convicted in scam at auto-chemical company
Court Watch News |
2011/07/20 09:23
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A former corporate executive officer of a New York-based automotive-chemical company was convicted Tuesday in a multimillion-dollar investor fraud scheme that enabled him to buy expensive jewelry and take private jets.
A jury in Manhattan state Supreme Court found Cleveland lawyer James Margulies guilty of charges including grand larceny and scheme to defraud. He faces up to 25 years on the top two counts, which could run consecutively. Bail was set at $1.5 million.
Ira London, an attorney for Margulies, said he planned to file a very vigorous appeal.
The jury has spoken. I believe they have convicted an innocent man, he said.
While serving as the company's finance chief — and briefly as CEO — of Industrial Enterprises of America, Inc., from 2004 to 2008, Margulies illegally issued millions of shares of stock to friends and relatives, inflating the share price by making the company look more profitable than it was, prosecutors said.
A teachers' pension fund in Ohio and a church were among the victims of the scheme, prosecutors said.
Margulies personally reaped more than $7 million, spending it on lavish luxuries such as a $350,000 diamond ring for his wife from jeweler Harry Winston, prosecutors said.
He also paid more than a million dollars on the mortgage of his first home, bought a second home and spent $500,000 on a vacation club membership, prosecutors said.
Margulies was charged in the scheme in 2010 along with John D. Mazzuto, who pleaded guilty Jan. 14 to his role in issuing fraudulent shares of stock. |
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In Strauss-Kahn case, DA weighs limited options
Court Watch News |
2011/07/01 00:15
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At first, prosecutors said their sexual assault case against Dominique Strauss-Kahn was growing more formidable by the day. Six weeks later, they said his accuser's history of lying raised major red flags, but they weren't dropping the case, at least for now.
With the former International Monetary Fund leader freed from house arrest because the case has weakened, prosecutors aren't saying what their next move may be.
Some legal experts say prosecutors will all but have to abandon the case because of the damage to the accuser's overall credibility, even if they believe Strauss-Kahn attacked the woman, a housekeeper at a New York City hotel where he was staying. Still, at least one former high-level prosecutor thinks the case isn't doomed.
For now, Manhattan District Attorney Cyrus R. Vance, Jr. is saying only that prosecutors will keep investigating until we have uncovered all relevant facts.
Sometimes the road to get to the truth has twists and turns in it, which are not always apparent at the outset, he said in a statement Sunday. What is important is not a win or a loss, but rather to ensure the criminal justice system balances the rights of all those who come before it.
Prosecutors have a number of options, including going ahead with the current charges or reducing them.
They could try to negotiate a plea deal, though it's unclear whether Strauss-Kahn would entertain one. He has asserted his innocence, and the doubts raised about the woman's trustworthiness would likely improve his chances at a trial. While prosecutors haven't questioned her account of the alleged attack itself, they say she's been untruthful about a number of other things, including what she did right afterward. That could make potential jurors reluctant to take her word over Strauss-Kahn's. |
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