NY trustee in Madoff scandal sues LA money manager
Court Alerts
A court-appointed New York City trustee is suing a Los Angeles money manager he says directed hundreds of millions of dollars in investments to financier Bernard Madoff.
Trustee Irving Picard says in a complaint filed Friday in Bankruptcy Court that Stanley Chais and his family made more than $1 billion in false earnings off Madoff's scheme. He claims the money came from the pockets of burned investors. He wants the money back.
Chais lawyer Eugene Licker says the Chais family has suffered "astounding and ruinous losses from the Madoff scheme."
Madoff pleaded guilty in March to charges his secretive investment advisory operation was a pyramid scheme. He faces up to 150 years in prison.
Picard is overseeing the liquidation of Madoff's assets. He says he plans to use sale proceeds to pay Madoff's victims.
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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.