Posts Tagged ‘#LegalNews’

Former IRS Criminal Investigation Chief, Don Fort, Joins Kostelanetz & Fink

Fort Named Director of Investigations at Tax and White-Collar Boutique

NEW YORK, Oct. 29, 2020 /PRNewswire-HISPANIC PR WIRE/ – Kostelanetz & Fink, LLP, is pleased to announce that John D. (Don) Fort, the former Chief of the Internal Revenue Service’s Criminal Investigation (CI) Division, has joined the firm as Director of Investigations. Mr. Fort departed the IRS at the end of September, after three years atop the IRS’s criminal enforcement arm and nearly 30 years at the agency. Mr. Fort will operate his practice out of K&F’s Washington, D.C. office.

Mr. Fort’s three decades of experience investigating financial crimes and his extensive network of connections both within the government and in private industry will prove invaluable to K&F’s broad client base of institutions and individuals facing high-stakes controversies and negotiations with government agencies. Mr. Fort will assist clients facing governmental investigations involving all manner of alleged financial and economic crimes, including tax crimes, money laundering, and Bank Secrecy Act violations. Mr. Fort also will play a central role in the firm’s internal investigations practice and will advise clients on compliance regimes. In addition, he will be available as an expert witness and for voluntary or court-mandated monitorships.

“We couldn’t be more thrilled to welcome Don to K&F, and we’re confident that Don will strengthen and supplement Kostelanetz & Fink’s already deep bench in civil and criminal tax controversies and white-collar criminal defense,” said partner Bryan Skarlatos. “Don’s unique knowledge and insights into the government’s inner workings will help the firm continue providing the finest advice available and ensure that we secure the best outcomes possible for our clients.”

“I have long admired Kostelanetz & Fink’s tenacious advocacy and legal acumen, and I’m pleased to join the firm for this next chapter in my career,” said Mr. Fort. “I look forward to assisting clients in navigating the often thorny government investigations and negotiations process and bringing my experience and expertise to bear in strategically resolving our clients’ toughest challenges.”

Mr. Fort’s time in law enforcement included overseeing investigations of some of the most significant financial crimes ever investigated involving tax evasion, sanctions evasion, money laundering, bribery, international corruption, bank malfeasance, cyber and cryptocurrency crimes, and terrorist financing.

As both Chief and Deputy Chief of IRS-CI, Mr. Fort supervised numerous high-profile matters, including the college admissions scandal known as “Varsity Blues” that ensnared several celebrities; the Paul Manafort and Michael Cohen federal tax investigations; the Michael Avenatti tax investigation; the takedown of the largest darknet child exploitation website funded by cryptocurrency; two Chinese nationals who were charged with laundering $100 million in the hack of a cryptocurrency exchange; the Swiss Bank Program in which 80 Swiss banks entered into agreements with the government and paid $1.36 billion in penalties; the Federation Internationale de Football Association (FIFA) worldwide money laundering, structuring, and tax evasion matter; the Credit Suisse guilty plea, and many more.

Mr. Fort began his IRS career in 1991 as a Special Agent in Baltimore, Maryland, and later served in various investigatory roles around the country, before being elevated to Deputy Director of Strategy, IRS-CI Headquarters in 2014. Mr. Fort was named Chief of IRS-CI in June 2017.

Mr. Fort has a Bachelor of Arts Degree in Management from Gettysburg College and is a licensed CPA in the State of Virginia.

About Kostelanetz & Fink, LLP
Over the past 75 years, Kostelanetz & Fink, LLP, has built a global reputation as the law firm of choice for clients facing high-stakes controversies and negotiations with government agencies. K&F attorneys have unparalleled experience in tax controversies and white-collar criminal defense and are regularly called upon to handle the most challenging and sensitive cases and internal investigations. An important part of the firm’s practice includes tax and estate planning, commercial litigation, government procurement, and government contracting.

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South Spanish Trail LLC Amends $250 Million Lawsuit To Remove Major International Fiber Optic Cables From Boca Raton Intracoastal Property

BOCA RATON, Fla., Aug. 26, 2020 /PRNewswire-HISPANIC PR WIRE/ – On July 28, 2020 South Spanish Trail LLC (SST), a Delray Beach based real estate developer, filed in the Palm Beach County Circuit Court an Amended Complaint in its $250 million lawsuit against Globenet Cabos Submarinos America, Inc. (Globenet), owner of the GlobeNet (aka Atlantica-1) submarine fiber optic cable system which runs from Boca Raton to South America, Caribbean Crossings Ltd. Inc. (Caribbean Crossings), which operates the BICS cable system from Boca Raton, Florida to the Bahamas, and several unnamed Defendants described as John Does 1-100 (”John Does”) who have agreements to use the cable systems.

The suit seeks damages and Injunctive relief, including the removal of the fiber optic cables and conduits of both Globenet and CC that traverse SST’s property, and includes claims for trespass, ejectment, unjust enrichment, injunctive relief, declaratory judgement, and recission.

The suit stems from the surreptitiously installed GlobeNet and BICS cable systems across SST’s property without SST’s consent. Additionally, SST is suing the customers of Globenet and CC. John Does who entered into agreements with Globenet and CC to use various parts of the systems which traverse SST’s property.

The suit seeks immediate removal of the GlobeNet and BICS systems from SST’s property, damages in excess of $250 million, recission of all contracts with the John Does, Globenet, and CC that authorize the use of SST’s property, and injunctions to stop the trespassing upon and unlawful use and occupation of SST’s property.

On August 7, 2020 Judge James Nutt issued an order compelling Globenet to produce its agreements with all of the John Does for the use of Globenet’s various conduits and cables on SST’s property, with protections for any possible trade secrets of Globenet.

SST will be naming Globenet’s customers as defendants in the lawsuit when the agreements are produced.  Among other requested relief, SST is asking the court to impose a constructive trust over the portion of Globenet’s and Caribbean Crossings’ revenues to which SST is entitled based on its ownership of the property, and/or to require that the revenues being generated from the cable systems be deposited into the court registry until the dispute is resolved, so as to protect SST.

South Spanish Trail LLC is a Delray Beach, Florida based real estate development company specializing in maximizing the value of waterfront properties in the Boca Raton Florida area.

The law firm of Tobin & Reyes, P.A. of Boca Raton, FL represents South Spanish Trail LLC.  Globenet is represented by Greenberg Traurig, LLP, and Caribbean Crossings is represented by Holland & Knight LLP.

For further information please contact attorney, Ricardo Reyes with Tobin & Reyes, P.A. at: sst.litigation@tobinreyes.com.

The case is South Spanish Trail LLC v. Globenet Cabos Submarinos America Inc. et al., case number 50-2020-CA-002024, in the Fifteenth Judicial Circuit Court of Florida.

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LEVI & KORSINSKY, LLP Announce a Notice of Settlement for all persons and entities that purchased shares of common stock of Altisource Residential Corporation (”RESI”)

WASHINGTON, Nov. 4, 2019 /PRNewswire-HISPANIC PR WIRE/ –

IN THE DISTRICT COURT FOR THE VIRGIN ISLANDS
DIVISION OF ST. CROIX

ERIC MARTIN, Individually and on
Behalf of All Others Similarly Situated,

Plaintiff,

v.

ALTISOURCE RESIDENTIAL
CORPORATION, WILLIAM C. ERBEY,
ASHISH PANDEY, KENNETH D.
NAJOUR, ROBIN N. LOWE,
and RACHEL M. RIDLEY,

Defendants.

CIVIL NO. 1:15-CV-00024

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, PROPOSED SETTLEMENT, SETTLEMENT HEARING, AND MOTION FOR ATTORNEYS’ FEES AND EXPENSES

To:

All persons and entities that purchased shares of common stock of Altisource Residential Corporation (”RESI”) between December 24, 2012 and December 22, 2014, inclusive (the “Class Period”).

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of the Virgin Islands, that Lead Plaintiff Lei Shi and Plaintiff Ashley Saunders (collectively, “Plaintiffs”), on behalf of themselves and the Settlement Class, and Altisource Residential Corporation, William C. Erbey, Ashish Pandey, Kenneth D. Najour, Robin N. Lowe, and Rachel M. Ridley (collectively, “Defendants”), have reached a proposed settlement of the above-captioned action in the amount of $15,500,000 that, if approved, will resolve the lawsuit in its entirety (the “Settlement”).

A hearing will be held before the Honorable Anne E. Thompson of the United States District Court for the District of Virgin Islands, by designation, at the Clarkson S. Fisher Building & U.S. Courthouse, Courtroom 4W, 408 East State Street, Trenton, NJ 08608, at 10:00 a.m. on January 30, 2020 (the “Settlement Hearing”) to, among other things, determine whether the Court should: (i) certify the Settlement Class for the purposes of the Settlement only; (ii) approve the proposed Settlement as fair, reasonable, and adequate; (iii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated October 7, 2019 (”Stipulation”); (iv) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (v) approve Lead Counsel’s Fee and Expense Application.  The Court may change the date of the Settlement Hearing without providing another notice.  You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Notice and Proof of Claim and Release form (”Claim Form”), you may obtain copies of these documents by visiting the website dedicated to the Settlement, www.AltisourceResidentialSettlement.com, or by contacting the Claims Administrator at:

Altisource Residential Corporation Securities Litigation
Claims Administrator
A.B. Data, Ltd.
P.O. Box 173012
Milwaukee, WI 53217
866-797-0862

Inquiries, other than requests for the Notice, Claim Form, or for information about the status of a claim, may also be made to Lead Counsel:

Nicholas I. Porritt
LEVI & KORSINSKY, LLP
1101 30th St. N.W., Suite 115
Washington, DC 20007
(212) 363-7500|

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or received no later than February 22, 2020. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court in the Action, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than January 9, 2020. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel’s Fee and Expense Application must be filed with the Court and mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are filed and receivedno later than January 9, 2020.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS’ COUNSEL REGARDING THIS NOTICE.

DATED: October 21, 2019

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT

DISTRICT OF THE VIRGIN ISLANDS

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