White Collar

  • September 1, 2015

    Feds Tells 9th Circ. Ex-Oriole Can't Block Trading Evidence

    Federal prosecutors on Tuesday urged the Ninth Circuit to let them support their insider trading charges against former Baltimore Oriole Doug DeCinces with evidence of trades DeCinces made shortly before his alleged crime, arguing the earlier trades were the “beginning of the scheme” the ballplayer set up.

  • September 1, 2015

    Ex-UCB Exec Gets 8 Years, $17M Fine For Securities Fraud

    A former United Commercial Bank executive was sentenced by a California federal judge Monday to more than eight years in prison and fined nearly $17 million for his role in a securities fraud case that caused the country’s ninth-largest bank failure since 2007 and ultimately cost taxpayers and the federal government $1.1 billion.

  • September 1, 2015

    Texas Man Gets 17 Years For Fake Disney Resort Scheme

    A Texas federal judge on Tuesday handed down a 17½-year prison sentence to a man convicted of defrauding investors of more than $20 million by lying about supposed insider information that The Walt Disney Co. was planning to build a resort on rural land north of Dallas.

  • September 1, 2015

    Facebook Fraud Suspect Can't Ax Case, 2nd. Circ. Reaffirms

    The Second Circuit on Monday refused to reconsider an appeal from fugitive Paul Ceglia, who asked the court to halt a criminal fraud prosecution against him brought in response to what prosecutors say was a fraudulent lawsuit claiming a 50 percent stake in Facebook Inc.

  • September 1, 2015

    Gov't Fights Ex-CEO's Leniency Claims In $18M Bank Fraud

    Prosecutors have asked a New York federal judge to reject a retail design CEO’s request for a lenient sentence after he pled guilty to conspiracy to commit wire fraud, saying he defrauded lenders of more than $18 million solely out of greed.

  • September 1, 2015

    9th Circ. Questions Ex-Crow Workers' Fraud Convictions

    A federal prosecutor faced a tough crowd during oral arguments in a Ninth Circuit appeal challenging the convictions of three men for defrauding the Crow Tribe through a double-billing scheme, with two of the three justices questioning whether the government's case had been strong enough.

  • September 1, 2015

    Ex-Counsel, Chief of Staff To US Attorney Joins WilmerHale

    WilmerHale is adding Matthew Jones, former counsel and chief of staff to two U.S. attorneys for the District of Columbia, to its Washington, D.C., office as a member of its white collar practice group, the firm announced Tuesday.

  • September 1, 2015

    Madoff Trustee Granted Access To Cohmad Agent's Bank Docs

    A New York bankruptcy judge on Tuesday granted Madoff brokerage trustee Irving H. Picard's request to access bank records of a former Cohmad Securities Corp. agent involved in a $245 million clawback suit accusing Cohmad of steering clients and money to Madoff's firm.

  • September 1, 2015

    8th Circ. Backs New Trial For Ark. Atty Accused Of Fraud

    The Eighth Circuit ruled on Tuesday that an Arkansas attorney previously convicted of bankruptcy fraud is entitled to a new trial, saying that there were significant gaps in the evidence that prosecutors claim shows he helped a disgraced real estate developer hide assets from creditors.

  • September 1, 2015

    Pa. Justices Revive Whistleblower's Turnpike Commission Suit

    The Pennsylvania Supreme Court on Monday overturned a lower court’s dismissal of a former financial manager’s whistleblower complaint against the state’s Turnpike Commission, concluding that there was legitimate evidence countering the commission's argument that he was let go because of budgetary reasons.

  • September 1, 2015

    Anti-Bribery Odd Couple Takes Its Show On The Road

    It’s not unusual for cooperating witnesses to reach out to prosecutors or other investigators long after their cases are finished. What is unusual is for a cooperating witness and a former prosecutor to join forces and go on the road to educate companies on the type of conduct that brought them together in the first place.

  • September 1, 2015

    Revolving-Door Roundup: Hogan, Bracewell, K&L Gates

    August's roundup of attorneys journeying between the public and private sectors includes a recent acting U.S. attorney's move to Hogan Lovells in Los Angeles and a Bracewell & Giuliani LLP partner who’s been tapped to lead a U.S. Securities and Exchange Commission regional office.

  • September 1, 2015

    Ex-Secret Service Agent Cops To Silk Road Bitcoin Theft

    A former special agent with the U.S. Secret Service admitted Monday in California federal court to using his position as an investigator to steal hundreds of thousands of dollars of bitcoin from illicit accounts on the Silk Road website.

  • August 31, 2015

    Ex-Pa. Liquor Board Director Charged With Fraud, Plea Filed

    The former Director of Marketing and Merchandising for the Pennsylvania Liquor Control Board was hit with federal criminal charges Monday for allegedly accepting bribes and kickbacks from an alcoholic beverages distributor and manufacturer in exchange for favoring those companies in policy decisions, and has agreed to a plea deal, the government announced.

  • August 31, 2015

    Canadian Man Denies Role In $300M Penny Stock Scheme

    A Canadian man has pled not guilty to charges he participated in a $300 million penny-stock trading scheme that pushed celebrity social-networking site Cynk Technology Corp.’s value past $4 billion despite an apparent lack of revenue, his attorney confirmed Monday.

  • August 31, 2015

    9th Circ. Says Alleged Email Removal Wasn’t Concealment

    The Ninth Circuit on Monday said a real estate investor’s alleged removal of emails to a deleted items folder during an investigation into a foreclosure auction bid-rigging scheme didn’t necessarily amount to concealment, affirming a judge’s decision to acquit him of an obstruction of justice charge after a jury found him guilty.

  • August 31, 2015

    Madoff Trustee Scraps With Cohmad Agent Over Bank Docs

    Madoff brokerage trustee Irving H. Picard told a New York bankruptcy judge Friday that a bid to access the banking records of former Cohmad Securities Corp. agent Jonathan Greenberg is proper in Picard's $245 million clawback suit against the investment firm accused of funneling huge sums into Madoff's defunct brokerage.

  • August 31, 2015

    FinCEN Rule Loops Advisers Into Anti-Laundering Crusade

    The Financial Crimes Enforcement Network unveiled a proposed rule Monday to enlist certain investment advisers into the agency's aggressive anti-money laundering campaign, with new requirements that they develop oversight programs and report suspicious activity.

  • August 31, 2015

    Okla. Judge Nixes Tribal Leader's Payday Lending Suit

    An Oklahoma federal judge has dismissed claims brought by the leader of the Otoe-Missouria tribe in a row over a $700,000 civil penalty targeting the tribe’s payday lending activities, finding a lack of personal jurisdiction, in a win for the Connecticut Department of Banking.

  • August 31, 2015

    Chicago Hits Redflex With $300M Suit For Bribery Scheme

    Redflex Traffic Systems Inc. is under fire in Chicago once again as the city has revealed that it will intervene in a recently unsealed whistleblower complaint accusing the red light camera manufacturer of bribing a former city official for millions of dollars' worth of contracts.

Expert Analysis

  • Takeaways From Rare Perjury Prosecution Of Attorneys

    William R. Coulson

    Attorneys’ notes and Q&A "scripts" are common devices used to rehearse a witness and very often are edited as new facts and recollections are revealed. They are normally privileged work product. However, after the prosecution of Chicago criminal defense attorneys Beau Brindley and Michael Thompson, defense counsel would be prudent to routinely destroy these notes, says William Coulson, a former federal prosecutor.

  • FinCEN Continues Aggressive Anti-Money Laundering Trend

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    If adopted, the Financial Crimes Enforcement Network’s recently proposed rules will prescribe specific anti-money laundering obligations for investment advisers, which previously had not been subject to Bank Secrecy Act AML regulations notwithstanding their potential criminal liability for engaging in or aiding and abetting money laundering, say attorneys with Cadwalader Wickersham & Taft LLP.

  • Is There 'Credible Information' Of A CTIPs Violation?

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    Compliance officers and attorneys need to develop a working understanding of “credible information” as used in the Federal Acquisition Regulation Combating Trafficking in Persons clause. Unlike other terms, “credible information” is not a precise legal term. There is also an inconsistency within the FAR, says Robert Stamps, special counsel for Afghanistan at Fluor Intercontinental Inc.

  • 4th Circ. View Of Cell Site Tracking May Lead To High Court

    Pierre Grosdidier

    The ruling in U.S. v. Graham over access to cell site location information at cell towers leaves open the possibility that a narrowly framed Stored Communications Act § 2703(d) order might still pass constitutional muster in the Fourth Circuit. Be that as it may, this issue could be ripe for U.S. Supreme Court review now that two circuits are squarely split based on similar sets of facts, says Pierre Grosdidier of Haynes and Boone LLP.

  • Don't Ignore Small And Midsize Health FCA Settlements

    Michael A. Filoromo III

    While the dollar figures involved in fraudulent schemes committed by small and midsize health providers pale in comparison to the record-setting $3 billion settlement with GlaxoSmithKline PLC, they are nonetheless substantial and can result in significant awards through the qui tam provisions of the federal False Claims Act, says Michael Filoromo III of Katz Marshall & Banks LLP.

  • 5 Takeaways From Former SAP Exec's FCPA Case

    Stacey Sprenkel

    Vincente Garcia, former head of Latin American sales for SAP International Inc., recently pled guilty in San Francisco federal court to violations of the Foreign Corrupt Practices Act and settled civil FCPA charges brought by the U.S. Securities and Exchange Commission, underscoring the agencies' continuing focus on the technology sector and Northern California in general, say attorneys with Morrison & Foerster LLP.

  • The Political Implications Of UK's Tom Hayes Verdict

    Elly Proudlock

    The conviction and sentencing of Tom Hayes for his part in the manipulation of the London interbank offered rate is an important win that will undoubtedly embolden the U.K. Serious Fraud Office and may help ensure that a proposal to abolish the SFO does not resurface anytime soon, say Elly Proudlock and David Rundle of WilmerHale.

  • 3 Ethical Traps For 'Gladiator' Litigators

    Debra Squires-Lee

    Olivia Pope, the D.C. lawyer at the heart of the television drama "Scandal," calls herself and her team "gladiators in suits." By that, she means that she is willing to fight for her clients like a gladiator thrown into the arena. While it may be good for TV drama, thinking like a gladiator in reality can get litigators into trouble. Consider the top three ethical mistakes, say Sherin and Lodgen LLP partners Debra Squires-Lee and C... (continued)

  • Microsoft Should Win Privacy Case, Then Congress Should Act

    Nathan Newman

    It is the better part of judicial restraint for courts to defer currently to local privacy rules in cases like the Microsoft Ireland one. Leave it to lawmakers to decide whether and where U.S. prosecutors should be able to reach such user data stored overseas, without unduly tying Congress’ hands with constitutionalized privacy rules that might or might not apply in all cases, says Nathan Newman, director of the nonprofit Data Justice.

  • Top 5 Ways To Help A Law Professional Land A Job

    Mark Newall

    It is a hard truth, but a law degree is a tough thing to have nowadays. Overloaded with thousands of dollars in debt and only a few job prospects that require a law license, many law graduates are looking for ways to manage their careers. We suggest some proven methods to amplify and accelerate your job search, says Mark Newall of Essex Partners Legal.