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Report: U.S. Attorney taps Ashcroft's firm for big money deal
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| November 20, 2007
Posted on 11/22/2007, 8:50:34 PM by Coleus
The law firm of former U.S. Attorney General John Ashcroft is set to collect more than $52 million to help the U.S. Attorney's Office in New Jersey monitor leading manufacturers of knee and hip replacements. The Star-Ledger of Newark reported for Tuesday's newspapers that Ashcroft is among five private attorneys whom U.S. Attorney Christopher Christie hand-picked to monitor the implant makers.
Christie worked under Ashcroft from 2002 to 2005. Ashcroft's Washington, D.C.-based firm is poised to collect more than $52 million in 18 months, the newspaper reported. The monitoring is tied to a $311 million settlement by the manufacturers to settle allegations they illegally paid surgeons millions to use and promote their knee and hip replacements. The companies agreed to hire monitors to ensure they comply with the law.
The arrangement, disclosed in SEC filings, calls for Zimmer Holdings of Indiana to pay Ashcroft Group Consulting Services an average monthly fee between $1.5 million and $2.9 million. That includes a flat payment of $750,000 to the firm's "senior leadership group," individual legal and consulting services at up to $895 an hour, and as much as $250,000 in monthly expenses.
Ashcroft spokesman Mark Corallo said Ashcroft was "uniquely qualified" for the monitoring and more than 30 professionals at his firm were working on the matter. Corallo deemed the fees "consistent with any other large-scale monitoring circumstances."
Christie said he wasn't involved in setting Ashcroft's fee and noted the fees imposed on implant makers are in lieu of fines. "Given what these companies were costing the American taxpayers, the fees that these monitors charge for changing the industry's practices will be a real bargain at the end of the day," Christie said. Christie said Ashcroft was the best choice to monitor Zimmer because he has experience running a 120,000-employee department and understands
(Excerpt) Read more at nj.com ...
TOPICS: Business/Economy; Crime/Corruption; Government; US: New Jersey
KEYWORDS:
$52M-plus payday for Christie's old boss11/20/2007
When U.S. Attorney Christopher Christie announced a $311 million settlement to end a probe into kickbacks by leading manufacturers of knee and hip replacements, he touted the agreement as a groundbreaking development for consumers and the industry... -
Read More
Man with eagle eye for conflicts has a blind spot11/21/2007
U.S. Attorney Chris Christie, the state's cru sader against corrup tion, has always been a big fan of former Attorney General John Ashcroft, his old boss. So it came as no surprise when Christie asked Ashcroft to help clean up a sleazy company tha...
Read More
Pallone assails Christie contracts
11/22/2007
A New Jersey congressman yesterday told U.S. Attorney Christopher Christie that he was "troubled" by the prosecutor's use of monitors to settle corporate fraud investigations and by the tens of millions of dollars that former Attorney General John... : Read More
November 19, 2007
Surgeons paid millions as consultants
Two Hackensack orthopedic surgeons received $1 million each and three other North Jersey surgeons received smaller amounts from manufacturers of artificial joints, according to court-ordered disclosures of the payments.
1
posted on
11/22/2007, 8:50:35 PM
by
Coleus
November 21, 2007
Coniglio is target of U.S. raidsFederal investigators are sorting through new boxes of evidence collected Tuesday morning from state Sen. Joseph Coniglio's Paramus home and his legislative office.
November 21, 2007
FBI searches Bergen senator's homeFederal investigators on Tuesday searched the home and legislative office of Democratic state Sen. Joseph Coniglio as part of a corruption investigation, but the senator's attorney said the searches will unearth no wrongdoing.
November 20, 2007
Federal agents search Coniglio's homeFederal agents searched the Paramus home of state Sen. Joseph Coniglio Tuesday morning in connection with an ongoing investigation of Hackensack University Medical Center.
September 8, 2007
Corzine blasts pair caught in stingGovernor Corzine and fellow top Democrats told a pair of North Jersey lawmakers to leave office Friday, a day after they were charged in a widespread FBI bribery sting.
September 7, 2007
Ethics panel to query ConiglioThe Joint Legislative Committee on Ethical Standards voted Thursday to send a letter to Sen. Joseph Coniglio requesting additional information regarding his role as a paid consultant for Hackensack University Medical Center.
August 4, 2007
Med center CEO talks to grand juryHackensack University Medical Center's chief executive has testified before a federal grand jury called to investigate influence peddling in Trenton and the hospital's hiring of a New Jersey state senator.
July 27, 2007
Feds: Case against Coniglio is strongFederal prosecutors have signaled to state Sen. Joseph Coniglio they have sufficient evidence to charge him with a crime in connection with his role.
July 26, 2007
Coniglio target of investigationProsecutors told state Sen. Joseph Coniglio they have amassed enough evidence to charge him with a crime, for his role as a paid consultant for Hackensack University Medical Center.
July 22, 2007
Corzine faces tough corruption fightLong-promised reform to clean up New Jersey politics is lagging as yet another prominent politician heads to court on corruption charges.
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Several politicians may face probesThe road doesn't end with Sharpe James' indictment.
July 12, 2007
Ex-Newark mayor indictment expectedFederal authorities were planning to announce the indictment today of former Newark Mayor Sharpe James, a law enforcement source said Wednesday.
2
posted on
11/22/2007, 8:58:19 PM
by
Coleus
(Pro Deo et Patria)
To: Coleus
God, what a bunch of crooks.
Sickening.
3
posted on
11/22/2007, 8:59:57 PM
by
Finalapproach29er
(Dems will impeach Bush in 2008; mark my words.)
To: Finalapproach29er
Which ones are the crooks? The companies or Ashcroft’s firm of lawyers.
I’d say it might be both. One only has to look at what happened to Conrad Black’s business when a “monitor” took over the business. He gutted it for personal gain, thereby screwing the stockholders.
Never trust a firm of high dollar lawyers to be scrupulous with funds of a client. Especially when the funds have been extorted in the first place.
4
posted on
11/22/2007, 9:08:01 PM
by
Sue Bob
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