News Briefs
Hattar, Ledwin, Cortellessa, Cheng, Farmer, and Grady Recognized Among Hudson Valley’s Top Lawyers for 2026
February 20, 2026
Joshua Cash (Partner-New York, NY) and Mark Ledwin (Partner-White Plains, NY) commenced an action in 2023 on behalf of the National Credit Union Administration (NCUA) against the ex-CEO of a Credit Union, under New York’s Faithless Servant Doctrine. The NCUA argued that the ex-CEO should forfeit $7,323,557 in compensation and a $1.5 million collateral assignment split-dollar insurance policy because of his criminal convictions, alleged financial improprieties, and policy violations. The ex-CEO’s misconduct began during the height of the taxicab industry and ultimately led to his conviction in 2021, after the Credit Union was liquidated by the NCUA. As a result of the criminal trial, the ex-CEO was sentenced to 46 months in prison and was ordered to pay $2 million in restitution (he currently remains incarcerated in Otisville, NY). The improprieties included accepting illegal gratuities from taxi medallion owners and brokers, approving tens of millions of dollars in the Credit Union’s loans to its detriment, and accepting luxury vacations and gifts without the approval of the Credit Union’s board.
Judge Nina R. Morrison of the U.S. District Court for the Eastern District of New York approved the final judgment based on the Federal Magistrate’s report and recommendation after the NCUA was successful on its motion for partial summary judgment on liability. The final money judgment amounts to $7,323,557.15, which is the total amount of the ex-CEO’s salary from February 10, 2011, until his termination of employment in 2016 (and provides for an equitable lien on the ex-CEO’s interest in his life insurance policy, up to the amount of the money judgment). Together with an early settlement obtained from the Credit Union’s ex-General Counsel for nearly $1 million, the NCUA stands to recover more than $8 million.
Joshua Cash and Mark G. Ledwin
Mark Ledwin (Partner-NY), Valeria Granata (Partner-Los Angeles), and Natalia Duque (Of Counsel-Los Angeles) prevailed on a motion for summary judgment in the Superior Court of California, Los Angeles County, on behalf of the firm’s insurance company client. In this heavily litigated breach of contract case, the Wilson Elser team argued that while the workers' compensation insurance policy in question was enforceable, the defendant had breached the insurance contract by failing to pay our client the required premiums. Despite the defense counsel’s disputing the premium payment failure, Valeria’s lengthy and persuasive oral argument resulted in the court granting Wilson Elser’s motion for summary judgment, alleviating the need for trial, slated to start in just a few weeks.
Mark G. Ledwin and Valeria Granata