White Collar RSS

  • April 24, 2014

    Fla. Aerospace Co. Says Employee Stole Data, F-16 Parts

    A Miami aerospace company sued one of its engineers in Florida state court on Monday, alleging he stole computers, fighter plane parts and intellectual property belonging to the company, third-party defense contractors and the U.S. military.

  • April 24, 2014

    SEC Examiner Resigns, Admits He Veiled Stock Holdings

    A longtime U.S. Securities and Exchange Commission compliance examiner has agreed to resign after admitting that he knowingly made false statements about his personal stock holdings, criminal prosecutors revealed Tuesday.

  • April 24, 2014

    Guilty Plea Protects Insurer Starr In $31M Kickback Case

    Starr Indemnity & Liability Co. doesn't has to cover security contractor Protection Strategies Inc.’s defense costs stemming from allegations it defrauded NASA and other agencies in a $31 million kickback scheme now that several PSI executives have pled guilty, a Virginia federal court said Wednesday.

  • April 24, 2014

    Amerindo Co-Founders Get More Jail Time For $20M Swindle

    A New York federal judge on Thursday increased the sentences of two former Amerindo Investment Advisors Inc. money managers who ran an alleged $20 million fraud scheme, saying they had continued to act “vindictively” toward victims after being sent to prison.

  • April 24, 2014

    Ex-Blackwater Contractor Escapes Iraqi Shooting Case

    A Washington, D.C., federal court on Wednesday officially dismissed charges against a former Blackwater Worldwide security contractor accused of taking part in the massacre of 14 Iraqi citizens in 2007.

  • April 23, 2014

    Holland & Knight Adds Former SEC, DOJ Atty

    Holland & Knight LLP has hired a former U.S. Attorney's Office and Securities and Exchange Commission official with a wealth of experience in securities and tax fraud matters, the firm said Wednesday.

  • April 23, 2014

    Ex-DBSI Execs Say Jurors 'Misled' Amid Acquittal Push

    Four former executives convicted of running a Ponzi-like scheme through bankrupt real estate firm DBSI Inc. on Tuesday asked an Idaho federal court to toss the verdicts against them or grant a new trial, saying prosecutor missteps tainted the jury's decision.

  • April 23, 2014

    Pa. Machine Co. Charged With Smuggling Goods To Iran

    A Pennsylvania precision machine manufacturer and its CEO face criminal charges in connection to an alleged conspiracy to export to Iran machinery used to make automobile and aircraft parts in violation of U.S. export regulations, the U.S Department of Justice announced Wednesday.

  • April 23, 2014

    3rd Circ. Upholds NJ Mayor's Corruption Conviction

    A belief that an official can influence a government decision, regardless of the official's formal power to do so, can support a Hobbs Act conviction for extortion under color of official right, the Third Circuit ruled Wednesday, upholding a guilty verdict against Hamilton Township, N.J.'s former mayor.

  • April 23, 2014

    NJ Judge Trims Attys' Charges In Lucchese Racketeering Case

    A New Jersey federal judge on Wednesday declined to toss racketeering charges against a pair of reputed Lucchese crime family associates accused of draining $12 million from a mortgage lender and forcing its bankruptcy but dismissed counts against two attorneys and another defendant.

  • April 23, 2014

    Parts Supplier For Honda Hit With $20M Price-Fixing Fine

    The U.S. Department of Justice's ongoing antitrust probe of the auto parts industry barreled ahead on Wednesday as the agency announced that a supplier of steering systems to Honda Motor Co. Ltd. will plead guilty to price-fixing and bid-rigging and pay a $19.9 million criminal fine.

  • April 23, 2014

    Ex-Penny Stock Co. Prez Gets 18 Years For $18M Fraud

    The Sixth Circuit on Wednesday affirmed an 18-year prison sentence given to the ex-president of penny stock company Plasticon International Inc., saying the man convicted of bilking investors out of over $18 million failed to object to his sentence at trial.

  • April 23, 2014

    Sony Open Promoter Arrested On Illegal Ticket Sales Charges

    A former employee of Sony Open promoter IMG Worldwide Inc. accused by federal prosecutors of having extra unauthorized tickets printed for the Miami event and pocketing the proceeds from the sales of these tickets themselves was arraigned in Florida federal court on Tuesday.

  • April 23, 2014

    Former NYC Charity Execs Admit To Lengthy Kickback Scam

    Two former executives at a noted New York City charity on Wednesday pled guilty to taking part in a 20-year larceny, tax-dodging and kickback scheme that took cash from inflated insurance premiums and siphoned $9 million from the Metropolitan Council on Jewish Poverty.

  • April 23, 2014

    Ex-Texas Prosecutor Pleads Guilty To Accepting Bribes

    A former El Paso County prosecutor pled guilty to a charge accusing him of accepting cash bribes in exchange for dismissing criminal cases in Texas federal court on Monday, according to court records.

  • April 22, 2014

    NCAA Asks Court To Rethink Seeking PSU Input On $60M Fine

    The NCAA on Monday asked a Pennsylvania appeals court to reconsider a recent finding that a consent order leveling $60 million in fines against Pennsylvania State University following the Jerry Sandusky sex abuse scandal requires the school’s input to be considered valid.

  • April 22, 2014

    Texas Atty Gets 10 Years For Forgery, Billing Scam

    A Texas criminal defense attorney who recently confessed to felony charges stemming from her alleged overbilling of work for indigent clients and forgery of judicial signatures was slammed with a 10-year state prison sentence Monday.

  • April 22, 2014

    Akin Gump Welcomes Back Former SEC Senior Trial Atty

    A former U.S. Securities and Exchange Commission trial attorney who was involved in the agency’s litigation around JPMorgan Chase & Co.’s London whale debacle has rejoined Akin Gump Strauss Hauer & Feld LLP as a partner in its New York office, the firm said Tuesday.

  • April 22, 2014

    Ex-BofA Worker Avoids Prison In Bid-Rigging Scandal

    A former Bank of America Corp. official who became a U.S. government witness in its crackdown on alleged municipal contract bid-rigging escaped punishment at his sentencing hearing Tuesday in New York federal court.

  • April 22, 2014

    DOJ Names New No. 2 At Criminal Unit's Helm

    The U.S. Department of Justice confirmed Tuesday that it has named Marshall L. Miller as second-in-command in the agency’s criminal unit, where he'll take on the roles of acting principal deputy assistant attorney general and chief of staff, the agency said.

Expert Analysis

  • History Of Alleged Financial Sector Collusion: Part 2

    Jon Eisenberg

    When billions or trillions of dollars of transactions are affected by the tiniest of changes in benchmarks, there might be temptation to move those benchmarks ever so slightly. However, the Nasdaq, municipal bond reinvestment, Libor and Forex charges of collusion show that the risk is greatest when detection is the most difficult, says Jon Eisenberg of K&L Gates LLP.

  • Legal Evolution: Back To Business

    Michael S. Lipps

    More often, smaller rivals are taking market share from the largest law firms. In this context, these smaller rivals are not small — they are super-regional firms with between 201 and 750 attorneys, large enough to serve the needs of a global corporation at a better value. And as they grow, they need to be sure they don’t make the same mistakes as the firms from which they’ve taken market share, says Michael Lipps of LexisNexis.

  • History Of Alleged Financial Sector Collusion: Part 1

    Jon Eisenberg

    Over the last 15 years, financial institutions have paid billions of dollars to settle claims that they colluded with each other. In this two-part series, we discuss cases beginning with the Nasdaq spread collusion allegations in the late 1990s and ending with the more recent Libor and Forex investigations, identify lessons that emerge, and suggest steps that firms, and in some cases, regulators, may wish to consider to reduce risks going forward, says Jon Eisenberg of K&L Gates LLP.

  • Mandatory Pro Bono Is Not The Answer For Practitioners

     Amanda D. Smith

    The State Bar of California has decided to follow New York's lead and require prospective attorneys to record 50 hours of pro bono service in order to be eligible for admission. While we applaud the intentions behind these initiatives, there are a number of reasons why state bars should limit any mandatory pro bono requirement to this context, rather than extend it to licensed attorneys as some have suggested, say attorneys with the Association of Pro Bono Counsel.

  • Toyota Agreement Showcases New DOJ Enforcement Model

    Keith M. Rosen

    As part of its agreement with the U.S. Department of Justice, Toyota Motor Corp. agreed to forfeit $1.2 billion — the largest criminal penalty imposed on a car manufacturer in U.S. history. While the size of this penalty has rightly received considerable attention, there is much more about the criminal case against Toyota and the deferred prosecution agreement that is worthy of close scrutiny by companies in the U.S. and abroad, say attorneys with Chadbourne & Parke LLP.

  • Cross-Border Complexities: Keep The C-Suite Out Of Prison

    Shari L. Pire

    The potential for significant gains makes high-growth markets, such as Russia, Brazil and India, particularly enticing. But at what cost? Business practices that are both acceptable and customary in other countries may violate U.S. and other anti-bribery and corruption laws. However, there are ways to insulate the corporation from liability, says Shari Pire of Willkie Farr & Gallagher LLP.

  • The Future Of Law Firm PR: The Good, Bad And Ugly

    Paul Webb

    There has been a dramatic change in how public relations professionals interact with the news media to promote or protect a law firm’s brand and reputation. But content is queen and has a bright future in law firm PR — it all begins with a plan that should include goals, performance indicators and a system of assessment, say Paul Webb, director of marketing at Young Conaway Stargatt & Taylor LLP, and Kathy O'Brien, senior vice president at Jaffe PR.

  • Good News For South Fla. Ponzi Schemers?

    Lawrence A. Kellogg

    In its effort to protect public companies and legitimate businesses in general, the U.S. Supreme Court appears to be overlooking the effect its rulings are having on those for whom the fraud provisions of the securities laws were designed to protect. Should the court ring the death knell on class action securities cases, the South Florida climate for Ponzi schemers and other fraudsters will become better than ever, says Lawrence Kellogg, a founding partner of Levine Kellogg Lehman Schneider & Grossman LLP.

  • What Will Gov't Seek To Prove In Rajaratnam Brother Case?

    Michele Adelman

    More courts than not have found that the government bears the burden of proving that a remote tippee knew that the tipper received some form of personal benefit, so the inevitable question is whether the government will reverse course and seek to prove that Rajarengan Rajaratnam knew that his brother Raj's tippers received a personal benefit, rather than running the risk of having a reversal of any conviction of Rajarengan, says Michele Adelman of Foley Hoag LLP.

  • Beware 'Jewel' Risks In Lateral Partner Hiring

    Pamela Phillips

    Jewel litigation has been filed after every major law firm bankruptcy in the past 10 years, including Lyon & Lyon, Brobeck, Coudert, Thelen, Heller and Howrey. These lawsuits have produced years of litigation, with similar suits expected in the Dewey bankruptcy. Despite the legal uncertainties surrounding such claims, hiring firms can take steps now to minimize their Jewel risk for any lateral hire, say attorneys with Arnold & Porter LLP.