Posts Tagged ‘Legal News’

Veteran Counsels for DEA and DOJ Join Diaz Reus

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MIAMI, Oct. 7, 2016 /PRNewswire-HISPANIC PR WIRE/ — Miami-based law firm Diaz Reus announced today that former Division Counsel for the Miami Field Division of the U.S. Drug Enforcement Administration, Patricia L. Diaz, and former Federal Prosecutor for the U.S. Department of Justice, Criminal Division, Fraud Section, Richard N. Wiedis, have joined the firm as partners in the firm’s international litigation, arbitration, and mediation and white collar criminal defense practices. The addition of Diaz and Wiedis continues the firm’s international expansion over the past 12 months as they join other impressive and talented lateral hires, including Ali Awais (Dubai), Gayle E. Hanlon (Dubai), Louis V. Martinez (Miami), Roland M. Potts (Miami), Javier Ruiz (Mexico), and Karel Suarez (Miami and Cuba).

“We are truly fortunate to attract such top level talent in key areas that are important to our clients,” says Michael Diaz, Jr., Global Managing Partner. “Patricia has an enormously successful track record in investigative and litigation matters and is highly qualified to guide clients through sensitive criminal investigations, prosecutions, and negotiations. Richard covers multiple areas of our practice, having outside counsel, in-house counsel, and government experience. His work at the DOJ and for a large, publicly traded technology corporation will be very valuable for our clients in high-stakes litigation, investigations, and regulatory compliance counsel.”

Diaz served six years as Division Counsel for the Miami Field Division of the Drug Enforcement Administration—covering the State of Florida and the Bahamas—and spent 21 years as an Assistant United States Attorney for the Southern District of Florida, prosecuting hundreds of complex, international money laundering cases and earning Special Achievement and Meritorious Service awards from the DOJ, DEA, FBI, HHS, and other U.S. agencies. As a Federal Prosecutor, Diaz was assigned to the High Intensity Drug Trafficking Area Task Force, a task force dedicated to the investigation and prosecution of high level international money laundering organizations.

A member of the Florida bar since 1988, her practice will be focused on white collar criminal defense, internal corporate investigations, general civil litigation, civil and criminal forfeiture, money laundering, RICO, and dispute resolution. Diaz received her J.D., magna cum laude, from the University of Miami School of Law, Miami, Florida.

Wiedis served 15 years as a Federal Prosecutor with the U.S. Department of Justice, Criminal Division, Fraud Section, where his investigatory and trial work led to convictions in high profile cases involving bank fraud, securities fraud, accounting fraud, and other white collar crimes. He holds multiple Special Achievement and Meritorious Service awards and letters of commendation from the DOJ and FBI. Prior to joining Diaz Reus, he served as Executive Vice President of Risk Management and Human Resources and Associate General Counsel at MicroStrategy, a $2 billion market cap, multinational business intelligence software company, where he oversaw the company’s litigation portfolio and designed and deployed a comprehensive risk management and corporate compliance regime for the company and its 23 international subsidiaries.

A member of the New York and District of Columbia bars, Wiedis will focus his practice on white collar criminal defense, internal corporate investigations, FCPA, general civil litigation, trial counsel, civil forfeiture, money laundering, RICO, mediation, arbitration, and compliance and risk management counseling. He received his J.D., cum laude, from Georgetown University School of Law, Washington, DC.

About Diaz, Reus & Targ, LLP
Operating on five continents, across 17 offices in key business centers, Diaz Reus offers a global practice centered around national and transnational parallel proceedings and transactions in the following broad areas: sovereign, trade, commerce, finance, and fraud; civil litigation and arbitration; asset identification, location, tracing and recovery; white collar crime, regulatory, and criminal investigations and defense in matters of corruption, bribery, money laundering, Foreign Corrupt Practices Act, OFAC, Specially Designated Nationals, and the Bank Secrecy Act; and politically sensitive investigations including the recovery of U.S. immigration status and visas. The firm is headquartered in Miami, Florida. www.diazreus.com.

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Batelco Successfully Obtains Indian Freezing Orders Against Assets of Related Parties of Chinnakannan Sivasankaran and Siva Limited to Enforce its USD 210 Million Judgment

MUMBAI, India, Feb. 24, 2016 /PRNewswire-HISPANIC PR WIRE/ –Batelco Group (Ticker: BATELCO ), the international Telecommunications Group with operations across 14 countries, has successfully obtained Indian freezing orders from the Madras High Court against certain Indian assets of Chinnakannan Sivasankaran (Mr Siva) and his related parties namely: his ex-wife Mrs Jayalakshmi Sivasankaran, his father R.C.K. Vallal, his mother Chinnakannan Chandrammal, his long-term associates Baskaran, Nithyavathi Venkatesan and his related company, Siva Limited. The value of the assets frozen by such orders is estimated to be approximately 500 Crore (US$ 74 million).

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The orders that have been made by the Madras High Court are intended to pay down a substantial UK judgment that was awarded to BMIC Limited (a fully owned subsidiary of Batelco) by the English High Court of Justice totaling US$ 212 million in June 2014 (the UK Judgement). The UK Judgement was awarded against Mr Siva and Siva Limited, following BMIC’s successful litigation against them (the defendants). The UK Judgment found that the defendants failed to honour a Settlement Agreement signed with BMIC in November 2011, relating to a commercial venture into which such parties had entered in 2009. According to the UK Judgment, full payment should have been made to BMIC by the defendants by 26 June 2014. To date the defendants have failed to pay such sum to BMIC.

Ihab Hannawi, Group CEO of Batelco said:

We fully expect all of the respondents to honour the Indian Court Orders and pay to BMIC the monies owing to it under the UK judgement. We will pursue all legal avenues available to us against such parties to secure this outstanding payment.”

[BMIC acquired a 42.7% stake of Indian registered S Tel in 2009. S Tel had been awarded a 2G Licence in 2008. Following the cancelation of 2G licences by India's Supreme Court in February 2012, BMIC sought to implement an agreed put option which under certain circumstances, such as the cancelation of its 2G licence, or in the event of a failure of Siva to secure financing, would ensure Siva bought back the shares acquired by BMIC at the price paid originally. BMIC and the defendants entered into the binding Settlement Agreement to give effect to this commitment which contained a promise by Mr Sivasankaran and Siva Limited to make payment to BMIC in agreed circumstances.]

CONTACT: Rethu Menon, Consultant, FTI Consulting India, Rethu.Menon@fticonsulting.com, +91-986-718-1043, Amrit Singh Deo, Senior Director, FTI Consulting India, Amrit.Singhdeo@fticonsulting.com, +91-916-742-8242

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