Kenneth Heller pleaded guilty Monday to income tax evasion, agreeing to pay a civil penalty of $9.8 million for opening a sham offshore corporation and establishing a bank account with UBS AG and parking $26.4 million in the account.
A provider of internet traffic routing services can be sued for gross negligence for enabling a hacker to gain access to the account of one of its clients, a New York federal judge has ruled, despite the fact that the plaintiff agreed to use domain name services “entirely” at its own risk.
The Pennsylvania Bar Foundation and the Pennsylvania Interest on Lawyers Trust Account Board have launched a new statewide school loan repayment program designed to ease the financial burden on recent law school graduates to make public service a more attractive and viable career option.
Federal prosecutors in Washington, D.C., have accused former Nixon Peabody associate Melissa Mahler, who was hit with civil insider trading charges by the Securities and Exchange Commission last month, of making false statements to SEC investigators. Mahler allegedly denied that she placed an order for shares of a client’s stock and said she only found out about the trade when she received her account statement from her broker. The charges say that Mahler knew about the trade, having allegedly made it herself.
The litigation fallout from the fleecing of a $4.8 million escrow account by a New York bookkeeper working at his brother’s law firm continues, as a judge has declined to dismiss a suit against the bank that opened the account. In February, Anthony Galasso was sentenced to prison for embezzling the money deposited in 2004 by a client of Galasso, Langione, Catterson & LoFrumento, where Anthony’s brother, Peter, is a name partner.