Whenever the words kids and medical malpractice get used together in a sentence, a chill runs through people, but in the case of Charles Winitch, the situation takes a much darker turn. In 2008, Charles Winitch, a stockbroker for Morgan Stanley, was called before a New York Stock Exchange hearing panel in a case that is truly sordid. Visit: car accident attorney nyc, we can help you!
Winitch was responsible for handling settlements obtained through medical malpractice civil suits. These were cases where children who had been seriously injured during birth or early childhood. Nearly all of these children were severely disabled as a result of the medical mistake and the settlement had been awarded so that they would be able to receive future medical treatments long-term care. Winitch dealt with these settlements as guardian accounts.
Very strict guidelines had been attached to the guardian accounts, which included the type of investments that could be made with the money and the amount of fees the accounts would be charged. The idea was to let the money grow in as safe a manner. Considering the holders of the accounts, no one wanted any unnecessary risks to be taken with the money.
Winitch was supposed to hold onto STRIPS investments, United States bonds and treasury strips, until they matured. Instead he opted to take part in short-term trades, something he wasn’t legally permitted to do without first discussing it with the family connected to the account. As a result of the short-term trades, the accounts increased by $537,153, of which Winitch and his partner pocketed $196,431. When the NYSE learned about what Winitch had done, they deemed the action inappropriate given the nature of the guardian accounts.
In this particular case, the story has a fairly happy ending, there is still plenty of money for the family to use to care for their disabled child, but things could easily have gone in the opposite direction, and left disabled kids without the money needed for medical care. http://www.pulversthompson.com/ is our website, there you can find all needed help!
According to data collected by the U.S. Department of Justice, more than 90% of medical malpractice cases in the United States have been linked to someone dying, or becoming severely disabled. Many of these cases involve children who can’t speak for themselves.
Caring for a disabled child is never easy, and knowing that a medical mistake in the birthing room is the reason for your child’s disability makes the process even harder. A New York medical malpractice attorney won’t be able to restore your child to perfect health, but they can help you put together a case that will lead to a settlement that you can use to cover the cost of education, equipment, and additional personal care. In addition to walking you through the process of filing the necessary paperwork, your New York medical malpractice attorney will also guide you through the trial, and investigate how large a settlement you should ask the court for. If your child suffered traumatic injuries during birth, contact a medical malpractice attorney in New York today! And for the end we want to share useful link with everyone!