A U.S. Department of the Interior panel rejected a Connecticut challenge to the Shinnecock Indians”™ bid for federal recognition, a key step in the Southampton, N.Y.-based tribe”™s plans to create a casino on Long Island.
The decision was opposed by the Connecticut Coalition for Gaming Jobs, which fears competition for the Foxwoods, Mohegan Sun and MGM Grand casinos in New London County.
“Today”™s federal action is a blow to the Connecticut casino industry and to the long-term economic health of Southeastern Connecticut,” said Chris Cooper, a coalition spokesman, in a statement to The Associated Press. “We will review today”™s ruling and discuss with our members the appropriate next steps in this process.”
Ally Financial under investigation by AG
Connecticut Attorney General Richard Blumenthal is investigating whether Ally Financial Inc. and its predecessor company filed defective documents in Connecticut, and demanded Ally freeze any ongoing foreclosures in the state.
Previously known as GMAC, the company was renamed Ally Financial this year.
Blumenthal said he acted after an Ally employee admitted signing thousands of foreclosure affidavits a month, without verifying their accuracy or having them properly notarized as required by law. Blumenthal said his office has confirmed that the employee signed foreclosure affidavits filed in Connecticut.
Among other requests, Blumenthal has asked Ally to provide case names and docket numbers of all Connecticut foreclosure cases in which defective affidavits were filed, and to identify employees or contractors who reviewed and signed foreclosure documents in Connecticut.
Amaranth Advisors to face class-action suit
A judge approved class-action status for plaintiff claims against Amaranth Advisors L.L.C., a onetime hedge fund in Greenwich whose $6.4 billion collapse in 2006 was the result of a trader”™s mistaken bet on energy prices.
U.S. District Judge Shira Scheindlin indicated the case involves more than 1,000 potential claimants, primarily traders in natural gas futures and options who allege Amaranth manipulated prices.
Amaranth founder Nicholas Maounis is listed as a defendant.
