R. Allen Stanford Still in Jail

Mark Ellis — Tue, 25 Aug 2009 02:42:38 +0000

Texas billionaire R. Allen Stanford was recently accused of fraud through the creation of an enormous Ponzi scheme and despite his best attempts, he will remain in jail until his Texas trial. Stanford attempted to appeal the ruling that would have him stay in jail, but the 5th U.S. Circuit Court of Appeals in New Orleans has upheld a ruling that classifies Stanford as a flight risk.

Along with four executives of the now-defunct Stanford Financial Group, Stanford has been accused of collecting billions of dollars of investors’ money, paying off investors with the money collected from other victims, and then siphoning off $1.6 billion to himself. Stanford’s conviction in court would net him 375 years in jail.

According to the appeals judges, Stanford is a flight risk because of the huge amounts of contacts he has amassed all around the globe, as well as his ability to get money from these contacts despite the fact that his own assets have been frozen. The court has already accused Stanford of maintaining a secret Swiss bank account, from which he had managed to withdraw $100 million while the SEC investigated his company.

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Post from: EveryJoe

Age Discrimination Harder to Prove

Mark Ellis — Fri, 19 Jun 2009 01:30:03 +0000

If you have been considering an age discrimination lawsuit against your employer, things just got a whole lot tougher thanks to a new Supreme Court ruling. The case, which was decided by a 5-4 ruling, states that employers will not have to prove that they did not commit age discrimination.

It all started when 53-year-old Jack Gross sued his employer, FBL Financial Services Inc. in Iowa, over what he perceived as age discrimination. He claimed that he had been demoted because of his age and that his job was taken by a younger female worker, which led him to bring a lawsuit against the company based on federal age discrimination laws.

The original court decided that the employer had to prove that it did not age discriminate, but then a federal appeals court overturned the decision. When the Supreme Court intervened, it sided with the employer and placed the burden of proof of age discrimination on the employee. The case represents a significant victory for employers who have been accused of age discrimination.

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Post from: EveryJoe

Age Discrimination Harder to Prove

EveryJoe » appeals court

R. Allen Stanford Still in Jail

Age Discrimination Harder to Prove