The Magna v. Coburn case in which the bank is suing attorney Coburn over "steering" to a settlement structuring company which eventually swindled clients, took an unusual turn. Lead attorney Rex Carr was called away from counsel table to the witness stand.
"In an odd twist Magna’s lead lawyer, Rex Carr, was called to testify as a witness for the defense.
Representing Thompson Coburn, Carrie Hogan of Jones Day in Chicago asked Carr a series of questions about his role in steering clients to James Gibson — the notorious businessman who ended up swindling structured settlements from children and widows.
According to Carr, it all started in 1985 when Gibson took up the business of structuring settlements under an agreement with a bank that Magna later acquired. "