Source: $20M in clients' cash missing in murder-suicide case

• Story Highlights
• Police say William Parente killed wife, 2 daughters and himself
• Parente may have taken more than $27 million from dozens of clients
• Clients got no investment statements and were not charged a management fee
• A client nervous after Madoff case found there was no money in Parente's account

NEW YORK (CNN) -- More than $20 million from dozens of clients is unaccounted for in the aftermath of what police say was a murder-suicide by the attorney who invested the money, according to a source with direct knowledge of deceased lawyer William Parente's financial dealings.

Some investors fear their entire life savings have been wiped out, said the source, who based the $20 million amount on knowledge of Parente's finances.

Some other investors are missing what could amount to another $7 million, CNN has learned, so the total of missing money tied to Parente could be upwards of $27 million.

Baltimore County, Maryland, police say Parente, 59, killed his family before committing suicide. The bodies of Parente, his wife and their two daughters were found in a hotel room in Towson, Maryland, on Monday.

The source, who asked not to be identified because of the sensitive financial information involved, said one investor had been involved with Parente for more than 15 years, receiving regular monthly payments from Parente until April 16, four days before the bodies were found.

The source said Parente solicited personal loans from clients at high interest, promising to use the money for bridge financing of real estate projects such as shopping centers.

The source did not know whether Parente, of Garden City, New York, had actually used the money for any legitimate investments.

The source, who knew Parente for more than 15 years, described him as "serious, somber and conservative."

Parente told investors he was generating returns of more than 13 percent even in down markets, according to the source.

Investors were not given investment statements and were not charged a management fee, but Parente did provide notices informing investors that he owed them money, according to the source.

In other developments Friday, police said Parente bought a set of knives from a Crate and Barrel store in Towson, and one of the knives is believed to be the one Parente later used to take his own life.

Baltimore County police said that knife is being tested as evidence in the murder/suicide case. Investigators say they found a receipt for the knife in the hotel room where the deaths took place, and the time stamped on the receipt was 5:25 p.m. Sunday.

Police have said Parente's wife, Betty, 58, and daughters Catherine, 11, and Stephanie, 19, were killed by asphyxiation and blunt force trauma Sunday afternoon.

Authorities said Parente took a call about midnight Sunday from his elder daughter's college roommate asking whether she was returning to her dormitory. Police believe Parente's daughter was already dead. He told the roommate his daughter was spending the night at the hotel with the family.

Also Friday, other details emerged about some of Parente's other clients.

One of Parente's investors was Queens lawyer Bruce Montague, and Montague's office has heard from 10 Parente clients whose investments are unaccounted for. Together, those clients had invested about $7 million. Through a law partner, Craig Gardy, Montague said he is missing $450,000.

The clients are from New York, New Jersey, California and Florida, according to Montague's office. The office has referred those clients to the FBI.

Gardy said Montague, who considered Parente to be a personal friend, remains too devastated about the deaths to provide details himself, but he authorized his partners to speak on his behalf.

The scenario as given by his partners was that after the Bernard Madoff scandal broke last fall, Montague got "cold feet" and repeatedly asked Parente for his investment money back.

On April 16, Montague tried to deposit a check from Parente for $245,000. On Tuesday, April 21, when Montague's bank notified him the check did not clear, he called Chase bank, where Parente's funds were held.

Montague was told Parente's account was empty, according to Gardy, and it would be useless to deposit other checks received from Parente.

Then Montague called the New York attorney general's office.

He called the attorney general's office again after he learned about Parente's murder/suicide.

Gardy said Montague believed he was investing in real estate notes -- short-term, high-interest loans made to developers, for example, who wanted to circumvent conventional bank loans.

Montague did not receive monthly or quarterly statements. Gardy said Montague believed he was making money on interest from those loans and would sometimes get a check when the note was paid off.

The FBI is continuing its investigation. Spokesman James Margolin said a number of banks are being contacted. He would not identify them.

Funerals for Parente's wife and daughters are scheduled for Tuesday at St. Joseph's Catholic Church in Garden City, New York. The funeral home handling arrangements said a separate, private service will be held for William Parente.

Saturday 4-25-09

**New Moon**

130, 861, 680, 038, 317, 271, 456, 532, 870, 198

657, 072, 290, 394, 792, 187, 230, 803, 106, 607

797, 324, 504, 444, 555, 054, 228, 000, 777, 888

6616, 4507, 3285, 7708, 1206, 1216, 3667, 4300

1300, 9225, 3748, 3819, 3708, 4708, 8243, 6789

 

Midday & Evening

** until 4-27-09 **

790, 791, 792, 793, 794, 795, 796, 797, 798, 799

024, 124, 224, 324, 424, 524, 624, 724, 824, 924

861, 168, 618, 054, 504, 086, 680, 327, 273, 607

000, 777, 888

"Education is the ability to listen to almost anything without losing your temper or your self-confidence."

- Robert Frost -

Mexican, US officials rush to tackle killer flu

MEXICO CITY (AFP) – Mexican and US officials Friday took emergency steps to contain outbreaks of a new multi-strain swine flu, which has sickened hundreds in Mexico, causing 20 deaths, and infected seven in the US.

Mexican Health Minister Jose Angel Cordova confirmed 20 deaths from swine flu Friday and said authorities were probing 40 more possible fatalities.

Authorities were probing 943 possible infections.

The World Health Organization confirmed 18 deaths in Mexico and said 12 cases had the same genetic make-up as victims of the virus in the US state of California.

Mexican officials warned people to avoid crowds or using the subway, closed the capital's museums and prepared to launch a massive vaccination campaign in the densely-populated capital, although they lacked vaccines.

"There were 60 deaths with similar symptoms. It has been confirmed that 20 of those are from this illness and the other 40 are being analyzed," Cordova told a news conference.

"It's a virus which mutated from pigs and transmitted to some humans," Cordova said earlier.

US medical authorities expressed strong concern as seven known, non-fatal, cases were reported in the southern United States, and underlined that the virus included strains from different types of flu.

President Barack Obama was being fully briefed on an outbreak, said a White House spokesman.

The US cases included five in California and two in Texas, in three clusters, WHO spokeswoman Fadela Chaib told journalists in Geneva.

The WHO, which has identified swine influenza as a potential source of a human flu pandemic, activated its global epidemic operations center.

Mexican authorities closed schools in the capital and the center of the country and Mexico City was to launch a massive vaccination campaign for "all people who haven't been vaccinated" against the usual winter flu, local Health Minister Armando Ahued said at a news conference.

The government has 500,000 flu vaccines and planned to administer them to health workers, but supplies were short in the urban area of some 20 million.

The US Centers for Disease Control and Prevention (CDC) says on its website that there is no vaccine to specifically protect humans from swine flu, only to protect pigs.

"The seasonal influenza vaccine will likely help provide partial protection against swine H3N2, but not swine H1N1 viruses," the website says.

It was not clear as to all the strains identified in Mexico, but the European Centre for Disease Prevention and Control said the "novel" A/H1N1 influenza identified in at least two of the recent cases by US counterparts might have a risk of developing into a pandemic-type virus.

"It's very obvious that we are very concerned. We've set up emergency operation centers," CDC spokesman Dave Daigle told AFP.

President Felipe Calderon canceled a trip and met with his cabinet to coordinate Mexico's response.

Medical teams were on stand-by at the capital's international airport, passengers with flu symptoms were advised not to fly, and all passengers had to fill out a health questionnaire, said Victor Mejia, a spokesman at the capital's international airport.

There had been some 800 suspected cases with flu-like illness in Mexico and 60 suspected deaths, WHO spokeswoman Fadela Chaib said earlier.

Most of the Mexican cases were found in healthy young adults with no known record of prior illness.

The WHO said it was in constant contact with health authorities in the United States and in Mexico.

Human outbreaks of H1N1 swine influenza virus were recorded in the United States in 1976 and 1988, when two deaths were recorded, and in 1986. In 1988 a pregnant woman died after contact with sick pigs, according to the WHO.

In recent years the global focus for a pandemic has shifted to the H5N1 bird flu virus, which has spread from poultry to humans and killed 257 of the 421 people infected by the virus since 2003.

If a pig is simultaneously infected with a human and an avian influenza virus, it can serve as a "mixing vessel" for the two viruses that could combine to create a new more virulent strain.

TGIF 4-24-09

861, 680, 504, 324, 212, 512, 812, 940, 554, 735

032, 604, 071, 106, 301, 753, 041, 347, 345, 542

095, 639, 164, 577, 000, 111, 222, 333, 666, 777

888, 4095, 8541, 0829, 3285, 8617, 9518, 8501

1111, 5555, 8888, 9999

My 3-year old is loving this jam to introduce Beyonce's appearance on Wow Wow Wubbzy the week of April 17, 2009. He can't get enough of this video and now I am rocking this jam too!!!!!!!!!!!!!!

 "Next to knowing when to seize an opportunity, the most important thing in life is to know when to forego an advantage."

- Benjamin Disraeli -

Ford posts $1.4 billion first-quarter loss

DEARBORN, Mich. - Ford Motor Co. reported a first-quarter loss of $1.4 billion Friday and said it depleted less of its cash, emphasizing that it doesn’t expect to seek any of the government assistance that is keeping the rest of the Detroit Three alive.

The nation’s second-largest automaker said it spent $3.7 billion more than it took in during the first three months of the year, far less than the $7.2 billion it spent in the fourth quarter of 2008.

Chief Financial Officer Lewis Booth said the company is confident that it will slow the drain on its cash even further this year, and he said Ford will make it through 2009 without needing government aid. He would not speculate, however, about 2010.

“This is a very, very difficult environment,” Booth said. “We’re comfortable we’ll get through this year.”

Ford said it cut structural costs by $1.9 billion, adding that it is likely exceed its $4 billion cost-cutting goal for the year.

“We are off to a very good start,” CEO Alan Mulally said in a conference call with reporters. “So we believe that we will be able to exceed that target for the year.”

Ford said it remains on track to break even or post a profit on a pre-tax basis in 2011.

While General Motors Corp. and Chrysler LLC have accepted $17.4 billion in federal aid and are racing toward deadlines to make deep cuts or file for bankruptcy, Ford was the first U.S. automaker to modify its contract with the United Auto Workers union and strike a deal to make up to 50 percent of payments to a union-run health care trust in stock instead of cash. The company also completed tender offers to reduce its debt by more than one-third.

The company said the moves would result in annual savings of $1 billion.

Ford drew the last $10.1 billion from its revolving line of credit during the quarter and said it had $21.3 billion in cash as of March 31. That’s down from $28.7 billion in the same period last year.

Ford’s first-quarter loss compares with a $70 million profit a year earlier. On a per share basis, Ford lost 60 cents, compared with earnings of 3 cents a share for the comparable quarter a year ago.

Revenue was $24.8 billion, down nearly 37 percent from $39.2 billion in the same quarter of last year, as Ford’s U.S. sales declined 43 percent.

On a pretax basis excluding special items such as a gain from its March debt exchange, Ford lost 75 cents a share, beating analysts estimates. Eleven analysts polled Thomson Reuters expected a $1.23 per share loss on revenue of $22 billion.

Booth called the first-quarter performance “solid” compared with Ford’s fourth-quarter loss of $5.9 billion, which led to a $14.6 billion loss for 2008, the worst annual loss in the company’s 106-year history.

“I think the important comparison for us is, ’are we improving versus the fourth quarter?’ Because the fourth quarter, things were really dreadful,” Booth said.

He said cost cuts and better pricing for its vehicles helped the company narrowed its losses, and he expects continued improvement for the remainder of the year.

One day after GM said it would temporarily close 13 North American plants for up to 11 weeks this summer to slash production, Ford said it has increased its second-quarter production forecast to 902,000 units, up 19.5 percent from the first quarter. North American production is expected to rise 25 percent to 435,000 vehicles.

The increase is due to seasonal adjustments and because of first-quarter production cuts to reduce dealer inventory. Ford shut down 10 North American assembly plants for an extra week in January to deal with the auto sales slump.

“We believe, with the decisive actions we have taken over the last few quarters, we have the dealer stocks well in line and with what we see with the reception of the new products,” Mulally said. “We believe we can go up a little bit more to support the real demand.”

Should GM or Chrysler, or even a key supplier file for bankruptcy, Ford’s production is likely to be affected. Ford is working with suppliers that would be affected by a filing, and Mulally said the company has met with the government’s auto task force to help it “understand the importance” and “interdependencies” of the supply base.

“The health of the supply base is probably the most critical issue as the government helps GM and Chrysler restructure,” he said. “I think they will continue to pay the highest priority as they restructure to the supply base to make sure it stays intact for all of us.”

Special items improved Ford’s earnings by $362 million. The company’s $1.1 billion gain on its debt exchange was offset by a $664 million impairment charge due to a reduction in the book value of its Swedish Volvo unit. Ford classified Volvo as “held for sale,” meaning that it’s likely the unit will be sold in the next 12 months.

Thursday, April 23, 2009
Curry to enter draft
Associated Press

DAVIDSON, N.C. -- The big schools didn't want Stephen Curry, then were helpless in stopping his sweet-shooting stroke as he put tiny Davidson into the national spotlight.

 

Now after three seasons and plenty of records, Curry is taking his game to the NBA, presenting more intrigue in how the skinny, baby-faced guard with the great genes will fare at the next level.

 

The nation's leading scorer announced at an on-campus news conference Thursday that he's skipping his senior season to enter the NBA draft. His father, former NBA sharpshooter Dell Curry, attended the announcement, along with his mother, Sonya, and Davidson coach Bob McKillop.

 

Curry said he will hire an agent, ending any chance that he'll return to campus and perhaps break Pete Maravich's NCAA Division I career scoring record.

 

"I think I'm mentally and physically ready to make that jump," said Curry, who believes he'll be selected somewhere between seventh and 20th overall. "This is a dream of mine since I was a little kid."

 

 

 

The lightly recruited Curry burst onto the national scene a year ago in helping Davidson of the unheralded Southern Conference get within a missed a 3-pointer of the Final Four.

 

The 6-foot-3 Curry moved to point guard this season and averaged 28.6 points. He had 15 games of 30 or more points and three of 40 or more as teams couldn't find a way to stop him.

 

Still, the decision tore at Curry's stomach much more than he expected. Two days after scoring 26 points in Davidson's loss to Saint Mary's in the NIT, Curry said he'd quickly make up his mind after speaking with his parents.

 

Dell Curry told his son he'd likely be a lottery pick and probably wouldn't improve his draft status by waiting a year.

 

But the younger Curry wavered because of his desire to get his college degree. Davidson does not have a summer school program, and he unsuccessfully tried to get school officials to bend a policy that requires seniors to take the majority of their classes on campus.

 

"During the whole process, some days I would say, 'I think I'm going to stay,' " Curry said. "Then some doubts would come in and I'd say, 'I'm going to leave.' Then more doubts would come in and I would keep going back and forth."

 

Curry told school officials Wednesday afternoon he would announce his decision on Thursday, but didn't tell McKillop or his father what he'd do.

 

The uncertainty captivated the region, with four Charlotte-area television stations broadcasting the news conference live. Curry said he finally made up his mind 90 minutes earlier while "eating an omelet" in the school cafeteria.

 

"It took me that long to figure it out," Curry said. "I decided to sleep on it last night. I was at peace this morning and that's what I was looking for."

 

Despite a weaker supporting cast than a season ago, Curry shot 45 percent from the field in 2008-09, including 39 percent from 3-point range. He was voted a first-team Associated Press All-American.

 

He finished his college career with a school record 2,635 points, which ranks 25th in NCAA Division I history, and 414 3-pointers, fourth on the all-time list.

 

If Curry had returned for his senior season, he would have had an outside shot at breaking Maravich's four decade-old record of 3,667 points.

 

"He's become the face of college basketball. He's become the face of Davidson basketball," McKillop said, tears in his eyes. "As special as he has been to us, he will be equally special in the NBA. I've been incredibly fortunate to have the opportunity to coach him these three years."

 

While Curry was perhaps the best shooter in college basketball, there are questions about how successful he'll be in the NBA. Curry will have to beef up his slight frame to withstand the rigors of an 82-game schedule. He's also still adjusting to the move to point guard, a position he'll likely have to play be a starter in the NBA.

 

Curry struggled at times when facing taller defenders with long arms, a likely nightly occurrence at the next level. But his lightning-quick release, surprising quickness, high basketball IQ and late growth spurt will make lottery teams take notice.

 

"He's shown that he can play and he's ready," Dell Curry said.

 

Curry has plenty of high-profile fans, too. Cleveland Cavaliers star LeBron James attended a Davidson NCAA tournament game last year and sat courtside in December when Curry scored 44 points in a win over North Carolina State.

 

"He's like a [Richard] Hamilton in our league. He never stops moving," James said after that game. "He's the type of player that's hard to guard no matter how big you are. Guys in the NBA don't want to continue to chase guys like that."

 

The major schools ignored Curry in high school because he was just 5-foot-9 in his junior year. He reached 6-feet as a freshman at Davidson and grew three more inches. After getting an MRI exam on an injured ankle in February, Curry said a doctor told him his growth plates showed he could sprout another two inches.

 

His father had a similar late growth spurt at Virginia Tech. Dell Curry then spent 16 years in the NBA, mostly with the Charlotte Hornets. He works in the Charlotte Bobcats' front office.

 

Stephen Curry said he'll finish classes this semester, then begin a rigorous workout program. He'll attend the NBA pre-draft event in Chicago next month, then work out for a handful of teams based on the results of the draft lottery.

 

"If you look at my body compared to some point guards and [shooting] guards, I have a lot of work to do," Curry said. "But if you saw me my freshman year, people were saying, 'Who's this kid in sixth grade walking around in college?' "

Midday & Evening

** until 4-25-09 **

190, 192, 193, 194, 195, 196, 197, 198, 199

051, 052, 053, 054, 055, 056, 057, 058, 059

324, 423, 846, 843, 849, 812, 218, 555, 888

Evening 4-23-09 Evening

** until 4-26-09 **

0256 0257 0258 0259 0267 0268 0269 0278 0279 0289 0567 0568 0569 0578

0579 0589 0678 0679 0689 0789 2567 2568 2569 2578 2579 2589 2678 2679

2689 2789 5678 5679 5689 5789 6789

 "To choose what is difficult all one's day, as if it were easy, that is faith."

- W.H. Auden -

Thursday 4-23-09

768, 254, 753, 742, 347, 401, 453, 267, 803

458, 054, 324, 849, 812, 843, 846, 201, 001

011, 037, 592, 111, 222, 333, 666, 777, 888

3285, 0829, 0039, 9310, 1526, 2728, 6166

Wednesday, April 22, 2009
Reports: Rose named NBA's top rookie
ESPN.com news services

 

Chicago Bulls guard Derrick Rose has been named the NBA's Rookie of the Year, according to published reports.

 

Two people familiar with the award confirmed to The Associated Press that Rose was the winner. Both requested anonymity as the announcement was to be made later Wednesday.

 

The Chicago Tribune first reported Rose had earned the honor.

 

The team is holding a news conference at 3 p.m. ET, at which it's expected the point guard, a Chicago native, officially will receive the award.

 

Rose, the No. 1 pick in the 2008 NBA draft, averaged 16.8 points per game, second to the Memphis Grizzlies' O.J. Mayo among rookies. Rose led all rookies in assists with 6.3 per game and was second in minutes played with 37 per game.

 

Rose joins Michael Jordan and Elton Brand among Bulls named rookie of the year. Brand shared the 1999-2000 award with Steve Francis; Jordan was rookie of the year in 1984-85.

 

Rose is the fourth player since 1990 to be named the league's top rookie and lead his team to the playoffs. The others are Tim Duncan in 1997-98 with the San Antonio Spurs; Chris Webber in 1993-94 with the Golden State Warriors; and David Robinson in 1989-90 with the Spurs.

 

He was the Eastern Conference rookie of the month in November and December, and again in March, helping the Bulls go 41-41 and reach the postseason for the fourth time in five years. In last Saturday's playoff opener against defending champion Boston, Rose matched Kareem Abdul-Jabbar's scoring record for a debuting rookie with 36 points and 11 assists in a 105-103 overtime victory.

 

Game 3 of the series is Thursday night in Chicago.