Analysis

The Dramatic Moments Set To Shape Tom Goldstein's Appeal

By Jeff Overley and Jared Foretek

Prurient revelations, brash recriminations and purportedly glaring judicial errors in Tom Goldstein's criminal case have captivated the appellate bar for nearly 19 months, and many of those moments will be center stage in the star attorney's imminent appeal.

Read full article » | Save to favorites »

Ex-Goldman Exec Convicted Of Ghana Bribery Plot

By Stewart Bishop

A former Goldman Sachs executive director was convicted Thursday for his role in what Brooklyn federal prosecutors say was a wide-ranging conspiracy to bribe Ghanaian officials in support of a Turkish energy company's push to obtain a lucrative power plant contract as the West African nation was reeling from an electricity crisis.

Read full article » | Save to favorites »

7th Circ. Backs Outcome Health Execs' $1B Fraud Convictions

By Celeste Bott

The Seventh Circuit on Thursday upheld the convictions of two Outcome Health executives for lying about the company's capabilities and value in a $1 billion fraud, rejecting their argument that an overzealous pretrial freeze on millions in assets violated their constitutional right to hire the defense attorneys of their choice.

Opinion attached | Read full article » | Save to favorites »

Crypto Founder Stole Millions From NFT Investors, Feds Say

By Aislinn Keely

A Miami crypto founder is facing securities and wire fraud charges for misappropriating investor funds on gambling and crypto trades after raising more than $10 million for a nonfungible token marketplace that ultimately failed.

Indictment attached | Read full article » | Save to favorites »

2nd Circ. Says Pillsbury Must Surrender $3.6M Retainer

By Jessica Corso

Pillsbury Winthrop Shaw Pittman LLP was ordered on Thursday to hand over a $3.6 million retainer it was paid to defend a client against criminal and civil fraud charges, with the Second Circuit upholding a ruling that the funds were part of an asset freeze order issued in a U.S. Securities and Exchange Commission case.

Opinion attached | Read full article » | Save to favorites »

Disbarred Atty And Son Must Face $17M SEC Fraud Suit

By Katryna Perera

A disbarred attorney and his son must face a U.S. Securities and Exchange Commission suit alleging they defrauded investors out of more than $17 million by running a Ponzi-like scheme disguised as an investment company for a start-up content streaming app, with a California federal judge finding the SEC brought specific examples of the duo's "alleged misuse."

Order attached | Read full article » | Save to favorites »

SEC Nets Win In Suit Over Ex-CEO's Alleged Revenue Scheme

By Sarah Jarvis

A Washington, D.C., federal judge on Thursday largely sided with the U.S. Securities and Exchange Commission in its civil enforcement case against the former CEO of RTI Surgical Holdings, finding he misled investors by failing to disclose that the surgical implant company regularly shipped orders early to artificially inflate its quarterly revenues.

Opinion attached | Read full article » | Save to favorites »

Brief

Man Gets 6 Years For Part In Alleged NFL Impersonation Scam

By Kelcey Caulder

A man accused of working with a former University of Alabama football player to obtain nearly $20 million in bogus loans by using wigs, makeup and forged documents to impersonate several National Football League players has been sentenced to six years in prison.

1 document attached | Read full article » | Save to favorites »

Ex-Girardi Atty Gets Probation For Keeping Silent On Theft

By Lauraann Wood

A former Girardi Keese attorney was sentenced to one day time-served and two years of probation Thursday for staying quiet and failing to report disgraced plaintiff's attorney Tom Girardi's theft of millions of settlement dollars owed to Lion Air Flight 620 plane crash victims.

Read full article » | Save to favorites »

SpineFrontier CFO Sentenced To 4 Months In Kickback Case

By Carolyn Muyskens

The former chief financial officer of spinal implant startup SpineFrontier was sentenced Thursday to four months in prison for his involvement in an alleged conspiracy to pay surgeons kickbacks disguised as consulting fees.

Read full article » | Save to favorites »

Tax Prep Biz Owner Gets 30 Months For $5M Refund Scheme

By Zak Kostro

A Las Vegas tax preparation business owner was sentenced to 30 months in prison for conspiring to defraud the U.S. government by filing false tax returns and diverting portions of the resulting refunds to herself and an employee, the U.S. Justice Department said.

4 documents attached | Read full article » | Save to favorites »

5 Financial Statement Fraud Red Flags To Spot Post-Sripetch

The U.S. Supreme Court recently held in Sripetch v. U.S. Securities and Exchange Commission that disgorgement exists to strip a wrongdoer of unjust enrichment, not merely to compensate victims for what they lost, shifting the work at the center of securities fraud cases in five ways, says Rand Manasse at Green Lane Partners.

Read full article » | Save to favorites »

9th Circ. Rule Block Unlikely To Deter FinCEN Cartel Focus

The Ninth Circuit recently blocked the Financial Crimes Enforcement Unit's border cash reporting rule, interpreting it as an impermissible use of an emergency anti-money laundering tool, but regulators are more likely to see the opinion as a road map for building a more defensible rule, say attorneys at Bradley Arant.

Opinion attached | Read full article » | Save to favorites »

Series

Being A Sommelier Makes Me A Better Lawyer

Being a sommelier has quietly shaped how I practice law by changing the way I think, communicate and connect with people, and offers a constant reminder that expertise is about making your knowledge useful and accessible to others, says Kara Du at Sheppard.

Read full article » | Save to favorites »

Justices' FTC Ruling Weakens Qui Tam's Constitutional Base

The U.S. Supreme Court’s holding in Trump v. Slaughter, expanding presidential control over those exercising executive power, suggests that courts may be receptive to arguments challenging the constitutional foundations of the False Claims Act’s qui tam mechanism, says Daniel Passeser at Wiggin.

Opinion attached | Read full article » | Save to favorites »

How Does In-House Pay Compare? Take The Law360 Survey

How do in-house salaries vary across industries, roles, and organizational revenue? What compensation tools are companies using to lure top talent? Help Law360 Pulse answer these questions and more in this year's In-House Compensation Survey.

Read full article » | Save to favorites »

No Simpson Thacher Malpractice In PIPE Case, Jury Finds

By Madison Arnold

Simpson Thacher & Bartlett LLP escaped a malpractice lawsuit late Thursday over its representation of Patriot National Inc. in a private investment in public equity transaction in the years before the company's downfall.

Read full article » | Save to favorites »

Dems Slam Skadden's 'Nothing To See Here' Trump Deal Reply

By Hailey Konnath

Three Democratic lawmakers on Thursday criticized Skadden Arps Slate Meagher & Flom LLP's response to their request that the firm disclose details of its pro bono arrangement with the Trump administration, saying the firm's "three sentence letter essentially saying 'nothing to see here'" is "not going to cut it."

Read full article » | Save to favorites »

New ABA Chief Seeks To 'Streamline' Org., Defend Democracy

By Emily Sawicki

The American Bar Association's new president, Barbara J. Howard, will focus on twin goals of defending democracy against expected unprecedented attacks associated with this year's midterm elections, while also reorganizing the association to run more efficiently, as she kicks off her one-year term this month.

Read full article » | Save to favorites »

Richards Layton Under Fire Amid Bid To Avoid AI Sanctions

By Rose Krebs

A firm has asked a Delaware vice chancellor to allow it to submit more "factual information" regarding what it says are inconsistencies in Richards Layton & Finger PA's attempt to avoid sanctions for submitting a filing with errors generated by artificial intelligence.

Letter attached | Read full article » | Save to favorites »

Ex-GC Hijacked Accounts And Posted Klan Imagery, Suit Says

By Ben Adlin

A Washington state court granted a temporary restraining order Wednesday in a school fundraising company's lawsuit accusing its former general counsel of taking control of its social media accounts and allegedly replacing its LinkedIn photo with a manipulated image of its president in a Ku Klux Klan robe.

3 documents attached | Read full article » | Save to favorites »

Wash. Justices Offer Bar Waiver After July Exam Tech Failure

By Rachel Riley

The Washington State Supreme Court said Thursday it's offering to waive the bar exam requirement for first-time applicants who were unable to take the test last week due to an abrupt cancellation driven by technical issues at the Yakima Convention Center where it was scheduled to be administered.   

3 documents attached | Read full article » | Save to favorites »