N.Y. probing equity firms, including Bain

Legal Business 2012/09/05 15:25   Bookmark and Share
New York's attorney general is investigating tax strategies of some of the nation's largest private equity firms, including Bain Capital, founded by Republican presidential nominee Mitt Romney, an official familiar with the probe said Sunday.

Attorney General Eric Schneiderman is examining whether the firms have abused a tax strategy to avoid paying hundreds of millions of dollars in taxes, said the official, who spoke on the condition of anonymity because of the sensitivity of the probe. The practice involves converting some fees collected for managing accounts into fund investments, resulting in a lower tax rate.

Some tax experts who spoke to The New York Times, which first reported the investigation Sunday, believed the strategy was potentially illegal, though other experts said it was commonplace and proper.

The Democratic attorney general sent subpoenas to more than a dozen firms, including Kohlberg Kravis Roberts & Company, TPG Capital, Sun Capital Partners, Apollo Global Management, Silver Lake Partners and Bain Capital, according to the official.
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California deputy pleads guilty to weapons charge

Court News 2012/08/31 10:37   Bookmark and Share
A former Sacramento County sheriff's deputy has pleaded guilty to a federal charge stemming from the illegal sale of dozens of weapons, some of which were used by criminals.

Prosecutors in Sacramento say Thomas Lu and fellow former deputy Ryan McGowan, both of Elk Grove, bought and sold handguns that cannot be legally owned by citizens in California.

Lu, age 42, pleaded guilty Tuesday in federal court to one count of dealing in firearms without a license, which carries a maximum sentence of five years in prison.

He is agreeing to cooperate with investigators as part of a deal that could bring him a lighter sentence.

The deputies are charged with serving as straw buyers who trafficked in restricted handguns.

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Ohio man pleads guilty to scamming storm victims

Legal Insight 2012/08/29 10:39   Bookmark and Share
A man accused of ripping off storm victims in Ohio and Kentucky has pleaded guilty to nine counts of theft.

Ohio Attorney General Mike DeWine said Joshua Salyers entered the guilty pleas in Hamilton County court in southern Ohio Tuesday. He admitted stealing more than $43,000 from the victims.

DeWine spokesman Mark Moretti said the 39-year-old Salyers ran a storm damage restoration business and took money from homeowners in Butler, Hamilton and Stark counties in Ohio and in Campbell County, Ky., to repair their homes after storms in 2010 and in 2011.

But Moretti said Salyers never began the work and refused to refund the money.
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Wash. man due in court in alleged Obama threat

Headline Legal News 2012/08/24 14:16   Bookmark and Share
A Washington state man accused of making an email threat against President Barack Obama and brandishing a shotgun at officers who came to his door is scheduled to appear in federal court.

Secret Service spokesman Brian Leary says 31-year-old Anton Caluori was arrested Tuesday at an apartment in Federal Way for investigation of making threats against the president and assault on a federal officer.

U.S. attorney's spokeswoman Emily Langlie says the threat was sent to a general purpose FBI email address.

A Secret Service agent and a Federal Way police officer went to an apartment, knocked and announced themselves for about three minutes, then found themselves facing a man armed with a shotgun when the door opened.

Leary says Caluori is set to appear at 2 p.m. Wednesday in court.

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Appeals court affirms oil company polar bear rules

Legal Business 2012/08/22 14:13   Bookmark and Share
Oil companies operating in the Chukchi Sea off Alaska's northwest coast will have a negligible effect on polar bears and walrus, according to a federal Appeals Court ruling Tuesday that backed U.S. Fish and Wildlife Service rules on harassment of the animals.

A three-judge panel of the 9th Circuit Court of Appeals said the agency correctly issued rules that provide legal protection to oil companies if small numbers of polar bears or Pacific walruses are incidentally harmed.

"We're glad that the court has reaffirmed the appropriateness of our conservation measures," agency spokesman Bruce Woods said.

The Center for Biological Diversity sued over the rules, claiming both individual animals and entire populations must be analyzed for protection. Center attorney Rebecca Noblin said the Appeals Court agreed but concluded the Fish and Wildlife Service had done sufficient separate analyses. Noblin called the decision disappointing.

The Marine Mammal Protection Act generally prohibits the "take" of marine mammals. Take is defined to include harassment or annoyance that has the potential to injure or that could disrupt behavior patterns such as migration, nursing, breeding and feeding.

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Pa. city's immigration rules back in US court

Court Watch 2012/08/17 10:52   Bookmark and Share
The dispute over a northeast Pennsylvania city's attempt to crack down on illegal immigrants is back before a federal appeals court Wednesday.

The six-year case involving Hazleton returns to the 3rd U.S. Circuit Court of Appeals because of a recent Supreme Court ruling.

The city rules would fine landlords who rent to illegal immigrants and deny business permits to companies that employ them. A companion piece requires tenants to register with City Hall and pay for a rental permit.

But they've all been on hold since a federal judge struck them down, and the federal appeals court affirmed the decision, saying they usurp the federal government's power to regulate immigration.

Now a mixed decision from the Supreme Court in a related case in Arizona is sending the Pennsylvania case back to court.
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