What to Steal? Money or an Election?

Leftist Democrats are shouting at Sidney Powell, where is your evidence? You haven’t got any!
Actually, she may have tons of evidence even though she has not given any of it to the Democrats.
The duty to disclose your evidence is different in a civil case. You don’t have to disclose any of it before trial unless the court issues a discovery order detailing what type of things must be disclosed.
Years ago [make that decades ago] I brought a case in Federal Court against a defendant for fraud in a commodities transaction with my client. The defendant obtained several thousand dollars from my client with which he was to purchase shares for my client on the Chicago Commodities Exchange.  The shares never showed up. The defendant simply kept the money.
Most of my evidence stemmed from a subpoena of the defendant’s bank records. Bank records belong to the bank, not the bank customer. Of course, the bank customer knows exactly what those records are because he receives regular bank statements.
The records given to me by the bank showed the defendant had deposited the check he rec’d from my client. If he had written checks for commodities futures all would have been fine. Instead, he made several cash withdrawals in the amount of $9500 each. With each withdrawal he kept the money for himself.
After the bank rec’d my subpoena I rec’d copies of several checks the defendant had written to himself for $9500 each. He never used this money to purchase commodities for my client. He lied to my client about that, thus a case against him for defrauding my client.
Banks are required to disclose to the IRS any cash withdrawals of $10,000 or more. What the defendant must not have known is that banks are also required to disclose to the IRS any cash withdrawals in amounts that appear to be attempts to avoid the banks’ disclosure to the IRS. He didn’t know he could have avoided disclosure if he had written checks for that amount for commodities transactions registered in my client’s name. That is what he had promised to do.
His lawyer never requested any the bank records from me. I assumed he already had those records. After all, he could have obtained those records without a subpoena. His client no doubt had bank statements showing it all. Also, If he had ask me for them I would have been required to give him copies of what I had obtained by subpoena.
Since that never happened I waited until the day of trial at which time I dumped copies of everything I had obtained from his client’s bank records. It was pretty cool watching all the blood drain from his face. We told the judge we had reached a settlement of the case. We asked the judge to dismiss the case and he was happy to do so.
I was pretty happy too. My client couldn’t have been too happy even although he now had a judgment against the defendant for the money he stole from my client. The defendant had already spent the money he stole from my client and there was little prospect of him gaining the ability to pay any of it back.
Judgments are good for 18 years and can be renewed for an additional 18 years. My client renewed it when 18 years had elapsed, but I doubt if he ever got anything out of the defendant.
The IRS doesn’t disclose criminal prosecutions of an opposing lawyer’s client so I can’t say with certainty that he was charged with several felonies by the IRS. I’d bet you dollars to donut holes that he was, though.
Lessons learned: Don’t give money to anyone claiming to be a stock or commodities broker (Unless they are part of a large brokerage house operating as an investment bank). Be your own broker and deal directly with the stock or commodities exchange.
More recent lessons learned: If you steal money a court will make you give it back. If you steal an election a court will let you keep it.
Print Friendly, PDF & Email

Subscribe to Blog via Email


%d bloggers like this: