Wilenchik & Bartness PC

January 2013 Archives

Month-Long Trial of Duane Slade Ends in Hung Jury; Jurors Refuse to Convict on "Ponzi Scheme" Charges of Mail and Wire Fraud, Money Laundering

The jury said it was unable to return a verdict today in the month-long trial of Duane Hamblin Slade, who the US Government accused of operating a “Ponzi scheme” through the “Mathon Fund,” along with Guy and Brent Williams. Slade could spend up to 30 years in prison if convicted, but the jury was hopelessly deadlocked and could not reach the verdict of “guilty” which the US Attorney’s Office in Phoenix, Arizona asked it to reach.The case was tried before the Hon. Jack Zouhary, a visiting U.S. District Court Judge from Ohio. Dennis Wilenchik, of Wilenchik & Bartness, defended Mr. Slade in the trial, and closing arguments were made last Thursday. After three days of deliberations, the jurors refused to convict Mr. Slade and the others, resulting in a “hung” jury. Mr. Wilenchik argued that the case presented by the Government made no sense, and that there was no Ponzi scheme or any other fraudulent scheme to defraud investors, who were mostly wealthy members of the Mormon community who invested in the Mathon Fund, a hard-money lending operation similar in nature to Mortgages Limited.  The company, which was based in Mesa, Arizona, raised hundreds of millions of dollars before being taken over by the Arizona Corporation Commission. In his closing argument to the jury, Mr. Wilenchik said that the government failed to prove that Mr. Slade committed fraud because it did not show that Mr. Slade actually made any false statements contrary to what was in the written subscription documents to investors, and that the Private Placement documents were not false or misleading and called out the risks sufficiently. The Government claimed that the Fund was not only a Ponzi scheme, but that the investors were misled by verbal representations and material omissions of fact.  Mr. Wilenchik argued that the investors could not rely on any alleged false statements because they were in fact not “material” to their investment decision.It is unclear whether the Government will attempt to retry the case. The Government did not offer Slade any plea agreement, forcing Slade to defend himself at trial. Wilenchik stated that he and his client were ecstatic about the result and that after ten years the Government could not prove its case, bringing this chapter to an end. If the Government attempted to retry Slade, Mr. Wilenchik stated that he was confident that Mr. Slade would be acquitted fully by another jury.See: http://www.azcentral.com/business/news/articles/20130130hung-jury-ponzi-scheme-case.html

1-9-13 Safer Schools, Safer Communities Initiative

Arizona House minority leader Chad Campbell (Dem., LD-14) talks about his new proposal for safer schools and tighter gun regulations, named "Safer Schools, Safer Communities." Officer Kevin Quinn, President of the National Association of School Resource Officers, and Andrew Morrill, President of the Arizona Education Association, weigh in on Mr. Campbell's proposal, as well as the NRA's proposal, backed by the Arizona Attorney General and others, to arm school personnel. (In short, they think it is a very, very bad idea.)

1-2-13 Dean Douglas Sylvester

Jack talks to Dean Doug Sylvester of the Sandra Day O'Connor College of Law about the new "North American" degree for law students who want to practice in both Canada and the US. Also, about the school's upcoming move to a new building under construction in downtown Phoenix (which, he assures us, will fully incorporate all the advances in bathroom technology of the last 30 years).

Awards & Recognition

National Board Legal Specialty Certification Best Of Our Valley Arizon's Finest Lawyers Top Rated Lawyers AV Peer Review Rated Law firm of the month attorney of the month
Email Us For A Response

Contact The Firm

Tell us about your case.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

2810 North Third Street
Phoenix, AZ 85004

Phone: 602-606-2810
Fax: 602-606-2811
Phoenix Law Office Map