Free Speech, Due Process and Trial by Jury
Federal prosecutors in Houston and the Commodity Futures Trading Commission have charged former Pacific Summit Energy President Matthew Clark with operating an illegal scheme involving insider trading of natural gas futures and financial kickbacks. A federal grand jury Thursday indicted Clark on multiple counts of wire fraud, insider trading and making illegal commodities transactions. If convicted, he faces 130 years in federal prison.
In sentencing 69-year-old Rudy Avila, Chief U.S. District Judge Barbara M.G. Lynn read the names of his 417 victims and the amount each lost to him.
The addition of Danny Ashby, who was previously at Morgan Lewis, comes nearly two weeks after O’Melveny recruited a five-partner corporate team from Locke Lord.
The 150-lawyer Texas firm, which has offices in Houston, Dallas and Waco, looked outside of the state for its latest hire.
Lawyers weighed in Wednesday on the new SEC proposal which would increase the frequency and amount of information some firms and hedge funds are required to disclose.
The CEO and three other executives of Grapevine-based United Development Funding convicted of securities fraud, wire fraud and conspiracy will be free while they await sentencing in May, a federal magistrate ruled Monday. The Dallas Business Journal is providing continuous coverage.
Four top executives of a Grapevine-based residential development lender United Development Funding return to federal court today in Fort Worth after conviction for securities fraud. The Dallas Business Journal is providing continuous coverage.
After a week-long trial, the fate of United Development Funding CEO Hollis Greenlaw and three other top executives at the North Texas-based residential real estate development lending firm is in the hands of the jury.
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