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An unarmed man shot 16 times by officers is now filing a $20 million claim against the King County, WA Department of Corrections.
Tag Archives: King County
Moody's, S&P settle lawsuits over debt ratings
Ratings agencies Standard & Poor’s, Moody’s and investment bank Morgan Stanley have settled two lawsuits dating back to the financial crisis that accused them of hiding risky investments.
The lawsuits from King County in Washington state and Abu Dhabi Commercial Bank claimed that the ratings agencies and Morgan Stanley hid the risk of investing in a fund that purchased bonds backed by subprime mortgages.
Judge Shira Scheindlin dismissed the lawsuits on Friday, in federal court in New York, with prejudice, which means they can’t be filed again.
Spokesmen for the McGraw-Hill Cos., which owns S&P, Moody’s Corp. and Morgan Stanley confirmed the settlements but did not disclose terms.
McGraw-Hill spokesman Jason Feuchtwanger said the cases were settled without any admission of liability or wrongdoing.
Ratings agencies came under intense scrutiny following the 2008 financial crisis for giving top-notch ratings to investments backed by subprime mortgages. As defaults and losses mounted in the housing market, especially among subprime loans, the value of bonds backed by the bad debt plummeted.
As the mortgage market collapsed, the ratings agencies sharply lowered their ratings on the investments.
With the value of such investments declining, funds that purchased the bonds filed for bankruptcy. King County and Abu Dhabi sued the ratings agencies and Morgan Stanley claiming the banks misled them about the safety of some investments that were part of a structured investment vehicle.
A structured investment vehicle is a fund that borrows money by issuing short-term securities at a low interest rate and then lends that money by purchasing long-term securities at higher interest. That process can make a profit for its investors from the difference.
Source: FULL ARTICLE at Fox US News
Motel worker recalls checking in Wash. fugitive
A co-manager at the Oregon motel where a Washington man accused of killing his grandparents was arrested said the guy seemed normal. He was friendly, chatty, paid with cash and showed his identification as if he had nothing to hide.
Leah Kallimanis, the co-manager at WestShore OceanFront Suites in Lincoln City, Ore., said Michael Chadd Boysen told her he was on a road trip when he checked in Monday. It wasn’t until early Tuesday morning, as she and her husband and motel co-manager, Adrian Kallimanis, were watching TV news and going over the previous day’s guest log that it hit her.
“All of a sudden my wife said, ‘Oh my gosh, I checked that guy in yesterday.’ She looked at the registration form and the name and she said, ‘This is the guy who is on the news right now,'” Adrian Kallimanis told The Seattle Times.
They called police, which prompted a daylong standoff that ended with officers storming Boysen’s room and finding him lying on the floor with self-inflicted cuts.
Boysen remains at Legacy Emanuel Medical Center in Portland, Ore., in serious condition.
Washington authorities plan to extradite Boysen and charge him with killing his grandparents after they picked him up from prison Friday and hosted a welcome home party for him. Boysen, 26, is accused of killing Robert R. Taylor, 82, and Norma J. Taylor, 80, at their Renton home.
Boysen is being held without bail. Investigators don’t know why he went to Lincoln City or why he killed his grandparents, said King County sheriff’s Sgt. Cindi West.
The King County medical examiner’s office likely will release information Thursday about how the couple died, West said.
Investigators believe the Taylors were killed Saturday. Their bodies were found by Boysen’s mother when she went to check on her parents.
Detectives have determined that Boysen checked in under his own name and spent Saturday night at a motel in the south Seattle suburb of Tukwila, not far from his grandparents’ home, West said.
On Monday, Boysen checked in to the WestShore OceanFront Suites in Lincoln City, again under his own name. King County sheriff’s detectives said Oregon State Police found the Taylors’ missing car Tuesday in a Wal-Mart parking lot …read more
Source: FULL ARTICLE at Fox US News
Man suspected of killing grandparents captured in Oregon motel
Police stormed a motel room in a seaside town Tuesday evening and captured a Washington state man suspected of killing his grandparents, ending a multistate search and a tense daylong standoff at the motel.
“Everyone’s safe. No one’s hurt,” Lincoln City Police Chief Keith Kilian said.
Police had spent much of the day trying to persuade Michael Boysen to surrender. After breaching the motel room door, they stormed in and captured him.
Boysen was found lying on the floor on his back with a self-inflicted cut, Kilian said. He was taken by ambulance to a hospital.
Boysen was alive, but the severity of his injury was not immediately clear, Kilian said.
Law enforcement authorities in Washington state confirmed Boysen was alive.
“We’re certainly glad it’s over and nobody else got hurt. We’re glad they were able to take him into custody alive,” said King County Sheriff John Urquhart.
“It sounds like they got to him in time,” Urquhart said.
The bodies of Boysen’s grandparents were found Saturday in their suburban Seattle home, a day after Boysen was released from prison and was greeted with a welcome home party.
During Tuesday‘s siege in the Oregon tourist town of Lincoln City, police pointed rifles at the motel, fired blasts from a water cannon and used a bullhorn to try to persuade Boysen to give up.
Police used a robot equipped with a video camera and a microphone to communicate with him. The robot was sent onto a balcony outside the motel room. Police breached the door and were able to communicate with Boysen through the robot.
When Boysen didn’t come out on his own, police went in after him.
“We tried to negotiate,” Kilian said. “We saw an opening that didn’t compromise the safety of our officers.”
Boysen checked into the motel Monday night under his own name but wasn’t recognized until Tuesday morning, when a desk clerk saw a television story about the case and called police, Kilian said.
Boysen, 26, made threats against members of his family and law enforcement while behind bars, Corrections Department spokesman Chad Lewis said Tuesday. But authorities didn’t learn of the threats until after the bodies of the grandparents were found and authorities had started looking for Boysen.
“Sources went to our staff at the Monroe Correctional Center and told us he had been threatening to do all this,” Lewis said.
The information was passed on to King County deputies, and that’s why Sheriff Urquhart called Boysen extremely dangerous at a Monday news conference. Investigators also determined that Boysen had been searching the Internet for gun shows.
Boysen just finished serving nine months in prison on a burglary conviction, Lewis said. He had no violent infractions in prison — “nothing extraordinary,” Lewis said.
He served a previous sentence between 2006 and February 2011 for four robbery convictions. Those convictions were related to an addiction to narcotic painkillers, Lewis said.
Boysen’s grandparents picked him up from prison Friday and drove him to meet his probation officer and to get an identification card from the Department of Licensing. They held a welcome home party for him …read more
Source: FULL ARTICLE at Fox US News
Man sought in 2 deaths captured in Oregon motel
An alert Oregon seaside motel employee helped police capture a Washington state man suspected of killing his grandparents, ending a multistate manhunt.
Tactical officers from several agencies swarmed to the tourist town of Lincoln City after a property manager at the WestShore OceanFront Suites recognized Michael Boysen‘s face and name after seeing him on television and called police early Tuesday morning.
Boysen, 26, checked in under his own name Monday night, motel owner Kent Landers told The Oregonian.
Police used a robot equipped with a video camera and a microphone to communicate with Boysen Tuesday in hopes of persuading him to surrender. After a tense daylong standoff punctuated with water cannon blasts, bullhorn shouts and tear gas, officers breached the door, which Boysen reportedly had barricaded with a refrigerator.
They found him lying on the floor on his back with apparently serious self-inflicted cuts, Lincoln City police Chief Keith Kilian said. He was flown to Legacy Emanuel Medical Center in Portland where nursing supervisor Judy Pahl said Wednesday his condition had been upgraded from critical to serious.
No officers were hurt in the standoff, which Kilian termed “very successful.”
King County sent two detectives to Oregon in hopes of talking with Boysen, Sheriff John Urquhart said. Depending on his medical condition, he’ll have to go through extradition, then King County hopes to “get him back here for trial,” the sheriff said Tuesday evening.
The bodies of Boysen’s grandparents were found Saturday in their suburban Seattle home, a day after Boysen was released from prison.
Officials also learned that Boysen had made threats against his relatives and law enforcement officials while behind bars. That information was passed on to King County deputies, which is why Urquhart called Boysen extremely dangerous at a Monday news conference. Investigators also determined that Boysen had been searching the Internet for gun shows.
Boysen just finished serving nine months in prison on a burglary conviction, said Washington state Corrections Department spokesman Chad Lewis. Boysen had no violent infractions in prison — “nothing extraordinary,” Lewis said.
He served a previous sentence between 2006 and February 2011 for four robbery convictions. Those convictions were related to an addiction to narcotic painkillers, Lewis said.
Wash. man suspected in death of grandparents captured at Oregon motel
Police stormed into a motel room in this seaside town Tuesday evening and captured a Washington state man suspected of killing his grandparents, ending a multistate search and a tense daylong standoff at the motel.
“Everyone’s safe. No one’s hurt,” said Lincoln City Police Chief Keith Kilian.
Police had spent much of the day trying to persuade Michael Boysen to surrender. After breaching the motel room door, they stormed in and captured him.
Kilian said they found Boysen lying on the floor on his back, and that he had sustained a self-inflicted cut. He was taken away in an ambulance.
Boysen was breathing, but it was unclear whether he was conscious and if his injury was considered serious, Kilian said.
The bodies of Boysen’s grandparents were found Saturday in their suburban Seattle home, a day after Boysen was released from prison and was greeted with a welcome home party.
During Tuesday‘s siege in this tourist town, police pointed rifles at the motel, fired blasts from a water cannon and used a bullhorn to try to persuade Boysen to give up.
Police used a robot equipped with a video camera and a microphone to communicate with the suspect. The robot was sent onto a balcony outside the motel room. Police breached the door and were able to communicate with Boysen via the robot.
When Boysen didn’t come out on his own, police went in after him.
“We tried to negotiate,” Kilian said. “We saw an opening that didn’t compromise the safety of our officers.”
Boysen checked into the motel Monday night under his own name, but the name wasn’t recognized until Tuesday morning when a desk clerk saw a television story about the case and called the Lincoln City police, Kilian said.
Boysen, 26, made threats against members of his family and law enforcement while behind bars, Corrections Department spokesman Chad Lewis said Tuesday. But authorities didn’t learn of the threats until after the bodies of the grandparents were found and authorities had started looking for Boysen.
“Sources went to our staff at the Monroe Correctional Center and told us he had been threatening to do all this,” Lewis said.
The information was passed on to King County deputies, and that’s why King County Sheriff John Urquhart called Boysen extremely dangerous at a Monday news conference.
Boysen just finished serving nine months in prison on a burglary conviction, Lewis said. He had no violent infractions in prison — “nothing extraordinary,” Lewis said.
He served a previous sentence between 2006 and February 2011 for four robbery convictions. Those convictions were related to an addiction to narcotic painkillers, Lewis said.
Boysen’s grandparents picked him up from prison in Monroe on Friday, drove him to meet his probation officer and to get an identification card from the Department of Licensing. They held a welcome home party for him Friday night.
The bodies were discovered by Boysen’s mother Saturday evening. She had been called by a family member who became concerned that the couple hadn’t answered their door.
Authorities haven’t said how they died. Investigators determined that Boysen had been searching the Internet …read more
Source: FULL ARTICLE at Fox US News
Police believe Wash. felon killed grandparents after 'welcome home' from prison party
A convicted felon is on the run after allegedly killing his grandparents as they hosted a party to celebrate his release from a Washington state prison.
Michael “Chad” Boysen, 26, is considered extremely dangerous and has tried to obtain guns, police said Monday. Q13 Fox reports Boysen has also made threats against law enforcement and community leaders, according to police.
Boysen was released from prison Friday after serving several years for robbery. His grandparents, 82-year-old Robert Taylor and 80-year-old Norma Taylor, picked him up from prison and hosted a family “welcome home party” for him that night, Q13 Fox reports.
The grandparents were killed later Friday or early Saturday at their Renton home. Authorities believe Boysen also stole their car.
“This is an exceedingly heinous crime any way you look at it, and I think the risk that’s out there is extreme right now,”King County Sheriff John Urquhart told Q13 Fox.
The sheriff said the grandparents were not shot, but he declined to provide other details about their killings, pending autopsies.
Detectives believe Boysen is trying to find weapons, and Urquhart said authorities do not believe he had a gun when he left the crime scene. Boysen had been searching the Internet for “gun shows” across the Northwest and Nevada, the sheriff’s office said.
“Basically right now we have a person that’s very, very dangerous on the run that we believe is trying to obtain weapons to kill citizens and police officers and corrections officers,” Urquhart told Q13 Fox. “We need to catch this guy.”
Boysen had been in prison since 2006 on three robbery convictions in King County, said Judy Feliciano of the state Corrections Department.
He was released Friday from the prison at Monroe, about 35 miles north of Renton, and was supposed to check in with a community supervision officer within 24 hours, she said.
Boysen’s grandparents had fixed up a room in their home for him to sleep in his first night out of prison, said Sgt. Cindi West, a sheriff’s spokeswoman. Boysen was planning to stay elsewhere after that.
“We are at a loss as to why he killed them,” Urquhart said. “We don’t know what the motive is.”
Boysen is 5-foot-10, weighs 170 pounds and has hazel eyes. He may be driving his grandparents’ red, 2001 Chrysler 300, with Washington license plate 046XXU.
A warrant has been issued for Boysen’s arrest. If he’s stopped anywhere in the country, law enforcement officers will know he’s a wanted man, state Corrections Department spokesman Chad Lewis said.
The Associated Press contributed to this report.
Man accused of killing grandparents in Washington
The man accused of killing his grandparents in Renton, Wash., had just been released from prison.
King County sheriff’s Sgt. Cindi West says 26-year-old Michael “Chad” Boysen was released Friday after serving nine months on a burglary conviction.
She says he went to spend that night with his grandparents. The bodies of the 82-year-old man and 80-year-old woman were found Saturday in their home. Their car, a red 2001 Chrysler 300, is missing.
West says there have been no reported sightings of the car or tips about Boysen.
The sheriff’s office says he’s considered “an extreme danger to the public and police.” Investigators believe he may be looking for firearms because he searched for gun shows on the Internet.