
Tom Girardi, disgraced legal titan, sentenced to seven years in prison
U.S. District Court Judge Josephine Staton said in handing down the sentence that Girardi has used the settlements of catastrophically injured clients to underwrite a lifestyle of 'private jets and country clubs' for himself and his wife, 'Real Housewives of Beverly Hills' star Erika Jayne.
'Mr. Girardi further victimized these people and did so at the lowest point in their lives,' Staton said.
Girardi, who turned 86 Tuesday, was convicted of four counts of wire fraud last year. He was diagnosed with Alzheimer's disease five years ago, though the level of his impairment is disputed.
He stared blankly at the judge as she spoke. Given a chance to address the court, Girardi spoke in a soft, muffled voice, blaming poor accounting and insisting he had not profited personally.
'I think it's clear there was some negligence involved, but everybody got everything they were supposed to get. That's the important thing,' he said.
Asst. U.S. Atty. Scott Paetty said the statement was just the most recent in a string of falsehoods from Girardi.
'We are here today because of Tom Girardi's lies,' he said, calling Girardi's handling of client money at the now defunct Girardi Keese law firm a 'textbook Ponzi scheme.'
Staton rejected a proposal from his attorneys that he be allowed to serve any sentence in the locked Alzheimer's care unit at the Seal Beach nursing home where he has lived for several years.
'If he's in prison, he will not understand why,' defense attorney Samuel Cross told the judge, describing Girardi's memory as 'frozen in amber 30 years ago' when he was at the height of the career.
Staton said she was not moved by what she called his 'cognitive decline,' saying his advanced age and various maladies actually made his imprisonment less harsh that it might have been when he was at the height of his power.
'This is not a greater punishment because he is old. It is lesser because he gives up less,' the judge said.
Girardi is to surrender to prison authorities by July 17.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


New York Post
4 hours ago
- New York Post
Former CNBC analyst James Arthur McDonald Jr., who betrayed investors, sentenced in multimillion-dollar fraud scheme
A former television financial analyst accused of defrauding investors out of millions of dollars and spending years on the run was sentenced to five years in prison, the Justice Department said Monday. James Arthur McDonald Jr., 53, is also expected to be ordered to pay restitution to his victims following his April 7 guilty plea for securities fraud. 'To his victims, [McDonald] seemed to embody the American Dream,' prosecutors argued in a sentencing memorandum. 'But looks can be deceiving, and as [McDonald's] victims learned, their trust had been betrayed.' McDonald, who frequently appeared as a guest on CNBC as a financial analyst, was arrested in June 2024 at his Florida home after spending years on the run and extradited back to California, where he was the CEO and chief investment officer of Los Angeles-based Hercules Investments LLC, and Index Strategy Advisors Inc. 3 James Arthur McDonald Jr. is expected to be ordered to pay restitution to his victims following his April 7 guilty plea for securities fraud. CNBC Prior to fleeing, McDonald also appeared to have terminated his previous phone and email accounts and told one person that he planned to 'vanish,' according to court documents. In 2020, McDonald 'lost tens of millions of dollars of Hercules client money after adopting a risky short position that effectively bet against the health of the United States economy in the aftermath of the U.S. presidential election,' prosecutors said. He misrepresented how the funds would be used and failed to disclose the 'massive losses' Hercules previously sustained. 3 Prior to fleeing, McDonald terminated his previous phone and email accounts and told one person that he planned to 'vanish'. FBI 'He misappropriated most of those funds in various ways, including spending $174,610 at a Porsche dealership and transferring $109,512 to the landlord of a home McDonald was renting in Arcadia,' the Justice Department said. In total, McDonald lost around $3 million of his clients' money, prosecutors said. With his other company, McDonald allegedly sent clients 'false account statements, including for one client who invested approximately $351,000, later needed the money to make a down payment on a home, was informed by McDonald that much of the money had been lost, and never got his full investment back.' 3 In total, McDonald lost around $3 million of his clients' money, prosecutors said. Hercules Investments In total, the US Securities and Exchange Commission said McDonald 'raised more than $5.1 million from 23 investors and clients, and misappropriated more than $2.9 million of those funds for personal expenses and Ponzi-like payments to earlier investors.' A federal arrest warrant was issued for McDonald in 2022 after he was charged with securities fraud. Fox News Digital's Greg Norman contributed to this report.


The Hill
12 hours ago
- The Hill
What Trump should learn from Oscar Wilde's doomed lawsuit
As President Trump flails about in a futile effort to change the narrative about his friendship with deceased sex offender Jeffrey Epstein, his explanations have only drawn more attention to their connection. Ironically, Trump's resort to strong-arm litigation will likely lead to yet more damaging disclosures. History tells us why. Over a century before Trump's ' powerhouse ' defamation case against the Wall Street Journal for publishing an article about his supposed birthday note to Epstein, another outsize figure came to grief by filing an ill-advised libel action that he knew was false. In 1895, the poet and playwright Oscar Wilde was the most renowned literary figure in the English-speaking world. By sheer force of personality, Wilde led an artistic movement that defied convention, offended propriety and created an esthetic revolution. Then he wrecked it all by subjecting himself to a relentless cross-examination about his then-scandalous intimate life in a case he could not win. Trump appears to be making the same mistake. His lawsuit against the Wall Street Journal can expose him to extensive questioning under oath about escapades he has kept mostly under wraps. The Wall Street Journal reported that Trump sent a risqué birthday note to Epstein, in 2003, featuring a sketch of a naked young woman. Trump immediately issued a sharp denial, calling it 'fake news' and declaring 'I never wrote a picture in my life.' The president's bluster was quickly disproven when reporters found verified drawings by Trump, at least four of which were publicly auctioned during his first term. The defamation case against the Wall Street Journal, filed in U.S. District Court for the Southern District of Florida, promises to reveal even more. Parties in federal cases are required to sit for depositions under oath. The scope of inquiry is extremely broad, compelling disclosure of any information 'relevant to any party's claim or defense,' even if it would be inadmissible at trial. The expansive allegations in Trump's complaint open the relevance door about as widely as possible, which makes the whole story of his association with Epstein available for questioning. Trump will have to fully describe everything they did together, where and when they did it, and in whose company — with names and details. Trump cannot object based on relevance, because he raised these very issues in his own lawsuit. He cannot claim memory failure, at least for the many events documented in photographs (and others that defense counsel may well dig up). He cannot hide behind presidential immunity, which does not apply in civil cases. Such were the circumstances that destroyed Wilde. Today, Wilde would be described as gay or bisexual, although neither term was current in the late 19th century. Wilde's lover was young Lord Alfred Douglas, known as Bosie, whose father was the brutish Marquess of Queensberry, author of boxing's modern rules. Queensberry hounded Wilde in public and private, branding him a ' posing ' sodomite. Although the accusation was true in its way (minus the invective), Wilde believed he had no option but to sue Queensberry for libel. He retained the prominent barrister, Sir Edward Clarke, who asked him to swear 'that there is not and has never been any foundation' for Queensberry's accusation. Wilde falsely replied that the charges were absolutely 'groundless.' It was a pretense Wilde could not maintain on the witness stand. His credibility was shredded by Queensberry's counsel, Sir Edward Carson, who would later become attorney general of England. Carson confronted Wilde with his own words of love for young men, taken from his published writings and private letters to Bosie. Worse, he produced witness after witness, tracked down by private investigators, who testified to Wilde's then-illegal sexual activities. Recognizing the damage to his client, and embarrassed by his own credulousness, Wilde's attorney attempted to withdraw the case. But the judge wouldn't have it, and Queensberry was exonerated. That ended the libel case, but it was not the end of Wilde's trials. He was indicted for the crime of 'gross indecency,' based on Queensberry's evidence. Ultimately convicted, Wilde was sentenced to two years at hard labor. Emerging a broken man, he died three years later. Both Wilde and Trump believed themselves invulnerable to conventional standards of respectability and decorum. Wilde proved disastrously wrong, while Trump has succeeded beyond all expectations. Both men somehow convinced attorneys to file outrageous lawsuits. Wilde's case was defeated in the most torturous way. Trump's remains pending, although it seems almost impossible, given the photographic and other evidence, for him to prove his allegation that he was never Epstein's 'pal.' We know that Trump's name appears multiple times in the Justice Department's Epstein files, as he was informed by Attorney General Pam Bondi. Thanks to his improvident lawsuit, he may now have to explain that under oath. After 130 years of social progress, we can understand and sympathize with Wilde's dilemma, although it led him to perjury. Trump deserves no such indulgence. His claim that the Wall Street Journal 'concocted' a story is all but certain to be proven false and irresponsible. He won't face personal ruin, as did Wilde, but perhaps he will be exposed as one of Epstein's active or passive enablers. History does repeat itself. First as tragedy, then as farce.


Business Wire
15 hours ago
- Business Wire
Alpha Cognition to Report Second Quarter 2025 Financial Results and Operating Overview
VANCOUVER, British Columbia & DALLAS--(BUSINESS WIRE)--Alpha Cognition Inc. (Nasdaq: ACOG), a biopharmaceutical company dedicated to advancing treatments for neurodegenerative diseases, today announced that it will release financial results for the second quarter on August 14, 2025 after close of market. Following the release, management will host a conference call to review financial and operating results. Conference Call Information: To participate in the conference call, please use the dial-in information below: Participant Listening: 1-877-407-9039 or 1-201-689-8470 or - Participants can use Guest dial-in #s above and be answered by an operator OR click the Call me™ link for instant telephone access to the event. Call me™ link will be made active 15 minutes prior to scheduled start time. The live audio webcast will be accessible here: A replay of the earnings call is available after the conference call has ended. Replay Dial-In: 1-844-512-2921 or 1-412-317-6671 Access ID: 13754595 Replay webcast: About Alpha Cognition Inc. Alpha Cognition Inc. is a commercial stage, biopharmaceutical company dedicated to developing treatments for patients suffering from neurodegenerative diseases, such as Alzheimer's disease and Cognitive Impairment with mild Traumatic Brain Injury ('mTBI'), for which there are currently no approved treatment options. ZUNVEYL is a patented drug approved as a new generation acetylcholinesterase inhibitor for the treatment of Alzheimer's disease, with expected minimal gastrointestinal side effects. ZUNVEYL's active metabolite is differentiated from donepezil and rivastigmine in that it binds neuronal nicotinic receptors, most notably the alpha-7 subtype, which is known to have a positive effect on cognition. ALPHA-1062 is also being developed in combination with memantine to treat moderate to severe Alzheimer's dementia, and as an intranasal formulation for Cognitive Impairment with mTBI.] Forward-looking Statements This news release includes forward-looking statements within the meaning of applicable securities laws. Except for statements of historical fact, any information contained in this news release may be a forward‐looking statement that reflects the Company's current views about future events and are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward‐looking statements by the words 'may,' 'might,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'intend,' 'plan,' 'objective,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'project,' 'potential,' 'target,' 'seek,' 'contemplate,' 'continue' and 'ongoing,' or the negative of these terms, or other comparable terminology intended to identify statements about the future. Although the Company believes to have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. The Company cannot assure that the actual results will be consistent with these forward-looking statements. These forward-looking statements are subject to certain risks, including risks regarding our ability to raise sufficient capital to implement our plans to commercialize ZUNVEYL, risks regarding the efficacy and tolerability of ZUNVEYL, risks related to ongoing regulatory oversight on the safety of ZUNVEYL, risk related to market adoption of ZUNVEYL, risks related to the Company's intellectual property in relation to ZUNVEYL, risks related to the commercial manufacturing, distribution, marketing and sale of ZUNVEYL, risks related to product liability and other risks as described in the Company's filings with Canadian securities regulatory authorities and available at and the Company's filings with the United States Securities and Exchange Commission (the 'SEC'), including those risk factors under the heading 'Risk Factors' in the Company's [ Form S-1/A registration statement as filed with the SEC on November 6, 2024 and available at ] These forward‐looking statements speak only as of the date of this news release and the Company undertakes no obligation to revise or update any forward‐looking statements for any reason, even if new information becomes available in the future, except as required by law.