Ex-Stanford CFO apologizes after pleading guilty
Court Alerts
The chief financial officer of Stanford Financial Group pleaded guilty in connection with a $7 billion international Ponzi scheme Thursday in federal court here.
James Davis, 60 years old, is cooperating with federal prosecutors, who are mounting a case against the chief executive of Stanford, R. Allen Stanford. Mr. Stanford was hospitalized Thursday morning because of a rapid heart beat.
Mr. Davis is facing up to 30 years in prison on charges of conspiracy to commit mail, wire and securities fraud as well as mail fraud and conspiracy to obstruct a Securities and Exchange Commission investigation. The government is seeking $1 billion from Mr. Davis.
"I did wrong. I'm sorry," Davis, the former Stanford chief financial officer said outside a Houston courthouse, after pleading guilty to fraud and conspiracy charges. "I apologize. I take responsibility for my actions."
Mr. Davis doesn't have the money, his attorney David Finn said.
Mr. Davis's assets have been frozen. He is living in Michigan and working a $10-an-hour manual labor job on a family farm in order to pay for his legal fees, Mr. Finn said.
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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.