Prosecutors: LA man cheated investors out of $10M
Business Law
A Los Angeles man has pleaded not guilty to running a Ponzi scheme that cheated about 50 investors in a NASCAR merchandise wholesale business out of at least $10 million.
Federal prosecutors say 63-year-old Eliott Dresher was arraigned and ordered held pending trial in U.S. District Court Monday.
The U.S. attorney's office says Dresher claimed investors' money would be used to buy NASCAR apparel and sell it to stores. He claimed he had $70 million in various accounts and his business would return 20 percent every six months.
Dresher ran his scheme for about 10 years before it c
Related listings
-
Court rejects new appeal of Chrysler sale
Business Law 12/14/2009The Supreme Court has declined to take another look at Chrysler's bankruptcy.The justices on Monday turned down an appeal from the state of Indiana pension funds that earlier challenged the automaker's bankruptcy proceedings. The bulk of Chrysler LLC...
-
Nortel wins approval for sale of businesses
Business Law 12/03/2009Nortel Networks Corp. said late Wednesday it won court approval in the U.S. and Canada to sell two of its business units.The larger unit, Nortel's global optical networking and carrier ethernet businesses, is going to Ciena Corp. The business is one ...
-
General Growth Properties files for reorganization
Business Law 12/02/2009General Growth Properties Inc. said Wednesday that it has filed its reorganization plan, and its lenders have agreed to restructure about $9.7 billion in shopping mall mortgage loans, more than previously planned.Last month the mall operator, which e...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.
Business News
404
Not Found
The resource requested could not be found on this server!