Scott Rothstein - Money Laundering Synopsis

* “They opened their U.S. accounts with cash…roughly $4,000, usually at a branch of a large, well known bank”

He transferred funds from WHA to his personal bank account and other accounts he had access and control too. Richard understated the amount of unpaid payroll taxes of WHA and its subsidiaries and by overstating the amount of loans made by him to WHA. As a result the financial statements and records were manipulated. He also directed purchasers of new issued shares to transfer the funds of the shares to accounts under his control. Around $6 million was taken and spent. The market value of WHA and the earnings per share were also inflated and overstated as well. This happened because of Richard falsely giving records to the SEC, WHA shareholders, and perspective new purchasers of stock by understating the real number of outstanding shares in the company’s financial statements. World Health Alternatives lost $41 million in total from all of the fraudulent activity.

related to the second case, being the second case was fought to reverse the outcome of the first

Solomon knowingly received and spent the $17,000 “reimbursement” which came from Elmore’s estate funds as evidenced by the check memo which states“Elmore Desvigne Estate.” It is unclear why Solomon would front the money In April from his IOLTA, and then deposit the “reimbursement” into his business account.

The defendant had paid her fees, but the plaintiff had issues with it because he couldn’t afford to pay so much. Judge Watkins opinion on the case was not final, she had to think about it. Judge Watkins was nice enough to talk to another intern and I about what we have seen. I went to Judge Lippit’s courtroom even though trial was done to talk to her and we discussed the case and compared it to the other case that got sent to settlement. I think that it the settlement makes sense because it was just a messy property case they settled for 6000 more than planned so they got 31 thousand. I learned that most lawyers aren’t as unprepared as the ones who had to be sent to settlement. I think that it might have been best for the attorneys to settle, because it would have been a complex

In October of 2013, the case alleges that the three individuals each contributed $3,000 to create a limited liability company called JailCigs. That company was created with the intent of selling

This scheme had over 800 victims within the United States and Canada. Allmendinger used the money that he stole from his victims to buy a multimillion-dollar home, a Lamborghini Spyder, and a diamond ring that was 15-carats. Most of these investors gave them their while life savings and have nothing to show for it. He was convicted on a count of conspiracy on mail fraud, two counts of mail fraud, one count of conspiracy to commit money laundering, on count of securities fraud, and two counts of money laundering. Each account he faced up to twenty years each with the exception of the securities fraud count which is up to a five year sentence in prison. Many of their victims were elderly people who had no idea that they were investing in a fraud scheme. Allmendinger was the vice president and co-founder of A&O and he was very active when it came to the marketing of the life settlement investment products and the day-to-day management of the business ("Founder of A&O Entities Convicted in $100 Million Fraud Scheme | OPA | Department of Justice," n.d.). Allmendinger accomplished this fraud by misrepresentations. He lied about the success of the company, the size of the company, number of employees, office location, use of investors’ funds, and the risk of investing offerings. Allmendinger knew he was in trouble to begin with after he found out he was under

This court case is talking about Kaipha S. Brown being charged with embezzlement and uttering, Brown told the court that the evidence introduced in the trial was trial was insufficient to sustain any of his convictions.

Lying Lying…what exactly is lying? The definition of lying is “not telling the truth in the face of society ”. Lying is considered wrong and a sin in places all around the world, including America. When you lie you destroy the shield of trust that people think of when your name is mentioned. This creates tension and feuds with all of the people involved.

Jan got 2.2 million not his entitled 40 percent, and in the end Schlitmann had only 30 thousand dollars left. He was dept free, but there was no money left over for him to reclaim his Porsche. His ideas of the civil justice system was dead, and he resolved not to practice law again. It was his good friend Harr

Ed Concannon viewed his client’s as fomites that he could manipulate for profit rather than do what is right. His approach to law was unethical both morally and professionally, but the most contentious view of Concannon’s ethical behavior was his callous views of justice.

This implies that the companies that are implicated in the wrong doing were actually in talks with the government long before the lawsuit was filed. This could have been for the purposes of mediation or to determine just how far outside the law the companies were operating.

Blunt thought that NYL had a chance to sell a very large volume of immediate annuities through the roughly 500,000 independent and company-based investment advisors in the United States who helped people manage their retirement assets. To do this, he wanted to make a multimillion-dollar investment in people and resources to try to convince these investment advisors to sell NYL’s immediate annuities.

2. Describe briefly the history of the litigation of this case (which courts heard the case, which way did they rule, what court is now deciding the case, which judges are hearing the case in this court)?

He also received a 500,000 stock options from the entity, along with shares from its sister company. These were according to the SEC filings.