Louis M. Martin
Louis M. Martin | |
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![]() Louis M. Martin (1900) | |
Personal details | |
Born | Madison, Madison County, New York | November 25, 1863
Died | March 1940 Utica, New York | (aged 76)
Resting place | Sunset Hill Cemetery in Clinton |
Political party | Republican |
Occupation | Lawyer, politician |
Louis Marshall Martin (November 25, 1863 – March 1940) was an American lawyer and politician from New York.
Life
He was born on November 25, 1863,
Martin was a member of the
He was again a member of the State Assembly in 1916, 1917, 1918, 1919, 1920 and 1921. He was Chairman of the Committee on the Judiciary from 1920 to 1921, and as such presided over the trial of the five Socialist assemblymen in 1920 which ended with their expulsion from the Assembly.
Martin was a justice of the New York Supreme Court (5th D.) from 1922 to 1926 when he resigned because of ill health.
He died on March 1, 1940,[4] in St. Elizabeth's Hospital in Utica, New York; and was buried at the Sunset Hill Cemetery in Clinton.
The Martin Act
Martin sponsored the Martin Act which was passed by the New York Legislature in 1921(New York General Business Law article 23-A, sections 352–353). The Martin Act is a New York anti-fraud law, widely considered to be the most severe blue sky law in the country. The Act grants the Attorney General of New York expansive law enforcement powers to conduct investigations of securities fraud and bring civil or criminal actions against alleged violators of the Act.
NY Attorney General Eliot Spitzer is credited with having revived the law during his tenure, and his office launched a Martin Act investigation against Merrill Lynch for suspected fraud in 2001. Ultimately, Merrill settled, agreeing to pay a $100 million fine and change the way its analysts are paid to head off possible criminal charges that it misled investors with tainted stock research.
In September 2022, New York Attorney General
On September 26, 2023, Manhattan Justice Arthur Engoron ruled that Donald J. Trump was liable for fraud ahead of trial in the New York Attorney General's lawsuit (accusing him of exaggerating his net worth by billions of dollars a year on financial records submitted to banks and insurers) – a major blow to the former president in the biggest civil case against him. Trump, his top executives, and heirs were declared completely liable of "persistent and repeated fraud", and the real estate empire was unceremoniously stripped of its business licenses in New York, ahead of a massive trial that seeks to hit them with more than $250 million in penalties for bank fraud.
Sources
- ^ "Louis M. Martin" transcribed from "Our County and Its People by Daniel Wager (1896; pg. 139)
- ^ New York Red Book (1900; pg. 149f)
- ^ Official New York from Cleveland to Hughes by Charles Elliott Fitch (Hurd Publishing Co., New York and Buffalo, 1911, Vol. IV; pg. 339 and 341f)
- New York Timeson March 2, 1940 (subscription required)