White Collar

  • January 29, 2015

    Pa. Treasurer Resigns Amid Possible Fed. Campaign Probe

    Pennsylvania state Treasurer Rob McCord announced Thursday he would resign from his post and return to the private sector, while a report published the same day suggested that federal authorities may be investigating his campaign-related actions.

  • January 29, 2015

    GE Capital Urges Consolidation Of Suits Over Petters' Scheme

    General Electric Capital Corp. on Thursday asked the U.S. Judicial Panel on Multidistrict Litigation to combine four lawsuits accusing the company of participating in the $3.6 billion Ponzi scheme orchestrated by Tom Petters.

  • January 29, 2015

    Frustrated Judge Rakoff Quits DOJ Forensic Science Panel

    U.S. District Judge Jed Rakoff on Wednesday resigned from a federal commission charged with determining standards for forensic science in the courtroom after the Department of Justice blocked the committee from considering the subject of pretrial forensic discovery.

  • January 29, 2015

    Chicago Ponzi Schemer Gets 25 Years For $34M Fraud

    The admitted architect of a massive foreign currency trading Ponzi scheme that bilked investors out of nearly $34 million was sentenced to 25 years in prison Thursday by an Illinois federal judge.

  • January 29, 2015

    Ex-TigerDirect Exec Pushes For Mercy, Shorter Sentence

    A former top executive at electronics retailer TigerDirect Inc. who took in $10 million in a kickback scheme with overseas suppliers asked a Florida district court on Wednesday to consider that the possible 20-year sentence he faces would essentially mean life in prison.

  • January 29, 2015

    DOJ Might Target More Remote Foreign Cartels, Official Says

    Even though the U.S. Department of Justice has only challenged foreign cartels that involve at least some direct imports into the country, it would be willing to pursue cases involving solely indirect sales in the future, the watchdog’s chief antitrust enforcer said Thursday.

  • January 29, 2015

    Newman Undermines Plea In Wells Fargo Insider Suit: Filing

    A Florida man is seeking to withdraw his guilty plea over an alleged $11 million insider trading scheme involving a former Wells Fargo investment banker, marking the latest fallout from the Second Circuit’s landmark decision in U.S. v. Newman.

  • January 29, 2015

    Access Communications Ex-CEO Pleas In Kickbacks Case

    Former Access Communications LLC CEO Michael J. Mitrow Jr. on Thursday admitted to fraud conspiracy and tax evasion charges after federal prosecutors accused him and his brother of taking kickbacks from Robert T. Madison, a former supplier to Mitrow's health care-focused marketing company.

  • January 29, 2015

    Cobalt Ducks SEC Charges Over Angolan Bribery Allegations

    The U.S. Securities and Exchange Commission has dropped its investigation of Cobalt International Energy Inc. over the alleged bribery of foreign officials in Angola in violation of the Foreign Corrupt Practices Act, the company said Wednesday.

  • January 29, 2015

    Ex-Madoff Aide Slams Feds' 'Godfather' Remark In 2nd Circ.

    Former Bernie Madoff aide Daniel Bonventre on Thursday urged a Second Circuit panel to let him remain free on bail while he appeals his conviction and 10-year prison sentence over the historic Ponzi scheme, arguing in part that a prosecutor had unfairly compared him and other defendants to characters in “The Godfather.”

  • January 29, 2015

    Judge To Dismiss IBM Insider Trading Case At Feds' Request

    A New York federal judge said Thursday he would grant a request by U.S. prosecutors to drop insider trading charges against five men stemming from a $1.2 billion IBM Corp. acquisition, but allowed the government to reassert its charges if it successfully challenges a related Second Circuit ruling.

  • January 28, 2015

    McGuireWoods Lures Bush Recount Atty From Morgan Lewis

    McGuireWoods LLP has bagged three partners from Morgan Lewis & Bockius LLP, including a new co-chair for its white collar practice who was at the center of the 2000 Florida ballot recount and a government contracts pro.

  • January 28, 2015

    AG Nom Lynch Promises Independent DOJ In Senate Hearing

    U.S. Attorney General nominee Loretta Lynch on Wednesday sought to set herself apart from contentious current Attorney General Eric Holder, as senators pressed her over her stance on immigration, financial, trade secret and cybersecurity issues, as well as a recent Internal Revenue Service scandal.

  • January 28, 2015

    Ponzi Schemer's Bond Pulled Over Undisclosed Assets

    Daniel Spitzer, admitted architect of a massive foreign currency trading Ponzi scheme, had his bond revoked Wednesday by an Illinois federal judge and was taken into custody after evidence surfaced that he may have additional assets hidden overseas that were unknown to prosecutors.

  • January 28, 2015

    Ex-Concert Promoter Denied Bail In $300M Ponzi Scheme

    A Florida federal judge on Wednesday denied bail for a former leading concert promoter accused of orchestrating a nearly $300 million Ponzi scheme, according to court records, ensuring he will spend months in a Miami federal detention facility while awaiting trial on eight counts of mail fraud.

  • January 28, 2015

    Silk Road's 'Dread Pirate' Hit Up Coders For Tips, Jury Told

    A manager of computer programming haven StackExchange.com told a Manhattan federal jury Wednesday that user Ross Ulbricht — the purported mastermind, dubbed the "Dread Pirate Roberts," behind online narcotics bazaar Silk Road — sought encryption advice from other programmers in 2012 just before changing his username to "Frosty."

  • January 28, 2015

    Giants Accused Of Playing Forum Games In Memorabilia Suit

    A memorabilia dealer accusing the New York Giants of scapegoating him to hide the distribution of bogus collectibles told the Third Circuit on Monday he should be awarded attorneys' fees because the team had removed the case to federal court in order to delay the suit and stop him from obtaining discovery.

  • January 28, 2015

    SEC Puts Steinberg Appeal On Hold Until Newman 'Resolved'

    An appeal by former SAC Capital Advisors trader Michael Steinberg over his ban from the securities industry was tabled indefinitely Tuesday as the U.S. Securities and Exchange Commission said it will instead wait until a related petition of a landmark Second Circuit ruling on insider trading is settled.

  • January 28, 2015

    Silver Arrest Could Complicate 421-A Renewal Talks

    In New York State Assembly Speaker Sheldon Silver's recent indictment, a controversial property tax abatement program known as 421-a was implicated in the federal bribery and kickback charges. Now, some experts say the implications and Silver's arrest could throw a wrench in the program's renewal negotiations this summer.

  • January 28, 2015

    Landmark Wants Criminal Sanctions Against EPA In FOIA Row

    The Landmark Legal Foundation urged a D.C. federal judge on Wednesday to impose criminal sanctions against the U.S. Environmental Protection Agency for allegedly erasing emails during discovery in a Freedom of Information Act suit, saying a civil contempt charge would be "a pinprick" for the agency.

Expert Analysis

  • The Day Government Contractor Compliance Changed

    Markus Funk

    It is no overstatement that the Federal Acquisition Regulation provisions on human trafficking that were published on Thursday will have an immediate and significant impact on the 300,000 or so prime contractors, as well as the quite literally countless subcontractors and lower-tier subcontractors, for the world’s largest consumer of goods and services — the U.S. government, say attorneys with Perkins Coie LLP.

  • Key Questions When Selecting E-Discovery Vendors

    David Houlihan

    While e-discovery remains a critical pain point in litigation, the "solutions" supporting its processes continue to evolve. In order to help organizations navigate the sea of options, we conducted research with 21 organizations across e-discovery market segments to understand the factors involved in successful e-discovery investments, says David Houlihan of Blue Hill Research Inc.

  • A 1st Look At Potential Reach Of 2nd Circ. Newman Decision

    Harry Sandick

    A New York federal judge recently vacated previously accepted guilty pleas in U.S. v. Conradt, an insider trading prosecution brought under the “misappropriation” theory. There is now an increased likelihood that the Second Circuit’s decision in U.S. v. Newman will be read by other judges to apply to cases brought under both the classical and misappropriation theories, say attorneys with Patterson Belknap Webb & Tyler LLP.

  • Invoice Intercepted: A New Form Of Wire Fraud

    Jeffrey Rosenfeld

    A new scam has arisen in a sordid line of wire fraud scams. What makes this email scheme particularly pernicious is that the victims often do not realize they have been scammed out of thousands of dollars until days, if not weeks, after the scam has occurred, after they have lost their money, and after the perpetrator is long gone, says Jeffrey Rosenfeld of Kronenberger Rosenfeld LLP.

  • DOJ Can And Will Seize Proceeds Of Foreign Corruption

    Kathleen Hamann

    The U.S. Department of Justice's recent civil action against Honduran government official Mario Roberto Zelaya Rojas serves as a reminder to corporations and individuals abroad how easily even wholly foreign criminal conduct may come within the reach of U.S. law enforcement authorities, say Kathleen Hamann and David Courchaine of White & Case LLP.

  • Once More Unto The Breach — Rehearing In Newman?

    Eugene Ingoglia

    On Friday, the U.S. Attorney’s Office for the Southern District of New York decided to seek appellate review of several aspects of the recent insider-trading decision in U.S. v. Newman and Chiasson. En banc rehearing petitions are rarely granted in any circuit, and are particularly rare in the Second Circuit, which hears the fewest number of rehearings of any circuit in the country, say Eugene Ingoglia and Gregory Morvillo of Morvillo LLP.

  • Prepare Now For New Anti-Corruption Program Expectations

    Rex Homme

    The scrutiny surrounding Foreign Corrupt Practices Act compliance is about to become even sharper with a recent report that the FBI will triple the number of agents dedicated to investigating potential violations. The increased manpower, coupled with the U.S. Securities and Exchange Commission’s continued investment in data analytics tools, sends a strong message, say members of StoneTurn Group LLP.

  • A Data Security Checklist For Companies Hiring Law Firms

    Jenn Topper

    We trust our law firms with huge amounts of data, whether in or out of discovery, investigations or litigation. All too often, we have relied on privilege, confidentiality and attorney ethics as a proxy for data protection and information security. But in fact, law firms ought to be held to a much more stringent standard — and in-house counsel would be wise to begin with a number of specific inquiries, says legal industry consultan... (continued)

  • Top 10 Trade Secrets Developments Of 2014: Part 2

    Randy Kahnke

    While the world of patentable subject matter shrinks, the world of trade secret protection may be expanding, say attorneys with Faegre Baker Daniels LLP.

  • FCPA Trends From The Last 6 Months

    Greg Deis

    After a relatively quiet third quarter in which there was only one corporate settlement of a Foreign Corrupt Practices Act enforcement action, 2014 ended with a flurry of activity, including the largest criminal penalty ever levied under the FCPA. Resolutions in the second half of the year highlight the value the agencies place on timely self-disclosure, full cooperation and remediation, say attorneys with Mayer Brown LLP.