Langone to attack Spitzer in court

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24 julio

Langone to attack Spitzer in court

Ken Langone has been keeping a lower profile in his bid to convince a New York State court to throw out a civil action by the state's attorney general Eliot Spitzer, who says he misled the New York Stock Exchange board over Dick Grasso's $140 million pay package. But all that is about to change as lawyers for Langone unleash a blistering attack on the attorney general and his case in court papers obtained by CNBC.

These arguments will be presented on Wednesday to New York State Supreme Court Judge Charles Ramos, who is weighing Langone motion to have the case dismissed. A decision could come in the coming days or weeks.

At issue for Langone is a civil charge by Spitzer who says the New York financier misled the board of the NYSE when he was the chairman of its compensation committee that granted some of the biggest paydays to Grasso. Spitzer is also suing Grasso, who resigned as NYSE chief in 2003, to have him return as much as $100 million of that deal. But Langone says that Spitzer's case is woefully inadequate, and in his court filing, he issues what may be his strongest rebuttal yet to the AG's charges, accusing Spitzer of everything from mischaracterizing evidence to spreading false innuendo about his relationship with Grasso.

Langone’s best point relates to Spitzer's witness list, or in his opinion, lack of a witness list. Langone says emphatically that Spitzer doesn't have a single NYSE board member on the record saying that Langone had misled him or her. Langone also draws attention to the fact that former NYSE Human Resources chief Frank Ashen, who was initially billed by the AG's office as a key witness in his case against Langone and Grasso, is largely absent from the vast majority of the AG's evidence as presented in court filings. The reason, according to Langone: In his deposition, Ashen is essentially siding with Langone and Grasso, and will do so in court.

Charles Gasparino - CNBC

9:23 | Agregar al blog

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Marvin L Foushee escribió:

I managed a Wachovia Securities account for my mother, and someone (IRS/FBI?) broke into this account and made some fraudulent transactions netting a fraudulent commission in the amount of over $600 dollars to Wachovia. Wachovia keep their online books on disappearing electronic ink that left no audit trail to nail the criminals. I kept the audit trail of the thief on paper and took the result to the U.S. Attorney General's Office and requested an investigation regarding financial institution fraud. The Attorney General's office hung up on me regarding this investigation. Martha Steward or George W Bush, if convicted of financial institution fraud, could face 12 to 20 years in prison for this felony. My mother has had two break-ins at her home and at her business, and no criminal investigation was ever undertaken on her behalf. Now my mother is being harassed by the IRS after a fraudulent tax return was filed against her by the IRS. The government is claiming that she purchased 2000 plus shares of Progress Energy stock at no cost and now IRS Agent, Roy Hill, government employee and IRS Agent now claims that my mother Jane Foushee owes the government $44,174.56. I am sure that Roy Hill and his wife and his kids will put up a hell of a battle outside of the courthouse to fight the Racketeer Influenced and Corruption Act, so how about a little bit of help from the New York Attorney General's Office, Charles? and put Wachovia and Roy Hill in the news?

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25 Julio

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Langone to attack Spitzer in court

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