REFinBlog

Editor: David Reiss
Brooklyn Law School

March 20, 2017

Monday’s Adjudication Roundup

By Jamila Moore

  • A class member in a suit against New Jersey is very unhappy with the 9.6 million dollar settlement reached.  The “tax lien bid-rigging” costed homeowners approximately 400 million dollars. The class member filed an appeal in the Third Circuit to ensure a more reasonable settlement is reached.
  • Rick Renzi, a former Arizona Congressman, was convicted of corruption due to his role in a local land deal. During the trial the Federal Bureau of Investigation (FBI) did not disclose an offer made to a witness of the prosecution. As a result, Renzi is asking for a new trial citing witness tainting as the reason.
  • The Federal Home Loan Bank of New York (FHLB) and Lehman Bros. Holding Inc.recently completed their pretrial arguments. FHLB stands accused of defrauding the company of 150 million dollars due to a valuation of interest rates swapped during the 2008 financial crisis.
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