State AG opposes action preventing return of illegal profits
Michigan Attorney General Dana Nessel has joined a bipartisan coalition with 22 other attorneys general to file an amicus brief with the Supreme Court arguing that the Securities and Exchange Commission (SEC) should be allowed to ask courts to require defendants to return money obtained by defrauding investors.
The brief argues that requiring bad actors to return profits – a process known as disgorgement – is critical to holding perpetrators accountable and deterring future misconduct.
Without disgorgement, wrongdoers have little incentive to stop violating security laws, leading to unfair and dysfunctional security markets. As a result, investors may lose confidence in the market.
“To truly hold bad actors accountable and make the individuals they cheated whole again, my colleagues and I agree that it is imperative the funds they stole are returned,” said Nessel.
Through disgorgement, states and the SEC can provide relief to victims of Ponzi schemes and other scams often sold to investors.
Man loses appeal over bright lights, 10 years in prison
YPSILANTI (AP) — Bright lights — long prison stay.
Police had probable cause to pull over a man who was driving in Ypsilanti with his high beams on, a stop that led to the discovery of cocaine, an outstanding arrest warrant — and ultimately a 10-year prison sentence, according to the Michigan Court of Appeals.
Damario Tubbs-Smith wanted the evidence suppressed.
He argued that the stop wasn't necessary because it was reasonable to drive in that area with bright lights.
But the appeals court noted that Tubbs-Smith passed several oncoming cars before he was stopped.
He still had his high beams on when a sheriff's deputy approached the vehicle.
Michigan law says drivers must ensure that their headlights do not cast “glaring rays” in the eyes of oncoming drivers within 500 feet, the federal court said.
The officer had “sufficient reason” to stop Tubbs-Smith, the court said.
Deputy uses stun gun to settle a beef between K9 and cow
GEORGETOWN, S.C. (AP) — A sheriff's deputy responding to a burglary call in South Carolina was forced to settle a beef between his K9 and a spooked cow by using a stun gun.
Georgetown County sheriff's deputies were dispatched to the Pleasant Hill community recently when a K9 that was brought to the scene reportedly became “distracted” and bit a cow belonging to the property owners, a statement from the agency said.
The officer was forced to stun the dog to prevent the cow from being seriously injured, the office said.
Reacting to the bite, the cow charged at the deputy and property owner, hitting them and causing minor injuries.
After taking stock of the situation, the deputy placed the dog in his cruiser.
None of the people or animals involved appeared to be seriously hurt, The Greenville News reported.
At the end of it all — the sheriff's office determined the original burglary call was unfounded.
Pleasant Hill is about 43 miles west of Myrtle Beach.
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