White Collar

  • April 27, 2015

    Bumble Bee Foods Charged Over Worker's Oven Death

    Los Angeles County prosecutors charged Bumble Bee Foods LLC and two employees on Monday with willful violations of worker safety regulations in connection with the death of an employee who was trapped inside an industrial oven at the company’s plant in Santa Fe Springs, California.

  • April 27, 2015

    Texas Couple To Pay $4M For Medicare/Medicaid Fraud

    A Texas federal judge ordered a couple to pay nearly $4 million in restitution as part of their sentence for a health care fraud scheme that bilked Medicare and Medicaid out of more than $4.7 million, the U.S. Department of Justice said Monday.

  • April 27, 2015

    Feds Slam Convicted Ex-UCB Exec's Bid For Release

    Federal prosecutors on Friday blasted the defense's request to free United Commercial Bank's former chief operating officer, who is facing a possible life sentence after being convicted of securities fraud in a scheme that cost taxpayers and the U.S. government $1.1 billion.

  • April 27, 2015

    Ex-Sheriff Sentenced To Prison In Immigration Conspiracy

    James Metts, once South Carolina’s longest serving sheriff, was sentenced Monday to one year and one day in prison after pleading guilty in a conspiracy to release certain immigrants who had been arrested while in the country illegally.

  • April 27, 2015

    Mont. Tribe Retaliated Against Ex-Chairman, DOI Finds

    The U.S. Department of the Interior has ruled that a Montana tribe implicated in a theft and bribery conspiracy involving tens of millions of dollars in federal funding retaliated against its former chairman, who had helped uncover the scandal, when it ousted him from his position.

  • April 27, 2015

    WilmerHale Gets Veteran SDNY Money Laundering Unit Head

    WilmerHale on Monday announced that the chief of the money laundering and asset forfeiture unit in the U.S. Attorney's Office for the Southern District of New York will be joining the firm as a partner in its New York office.

  • April 27, 2015

    Fla. Oil Distributor's Owner Gets 6.5 Years For Bank Fraud

    A Florida federal judge on Monday sentenced the former president and sole shareholder of bankrupt motor fuel distributor Delco Oil Inc. to six and a half years in prison for conspiracy to commit wire fraud and bank fraud

  • April 27, 2015

    FinCEN Miami Order Sends Banks Scrambling To Comply

    A rare order from the Financial Crimes Enforcement Network set to take effect Tuesday that targets drug-related money laundering among Miami-area electronics exporters is sending banks scrambling to implement additional checks and could make it more difficult for these companies to access financial services, experts say.

  • April 27, 2015

    Citigroup Ordered To Give Banamex Files To Pension Fund

    A Delaware court ordered Citigroup Inc. on Friday to give an institutional investor internal records relating to loan fraud at its Mexico-based Banamex unit and ordered an investigation of possible money laundering issues at its Banamex USA.

  • April 27, 2015

    $9M Hedge Fund Embezzler Sentenced To 4 Years

    A former controller of a J.P. Morgan-traded hedge fund has been sentenced to four years in prison and ordered to pay full restitution by a Connecticut federal court for embezzling more than $9 million over nine years, the U.S. Department of Justice announced on Monday.

  • April 27, 2015

    Ex-Cushing Trader Gets 30 Months For Securities Fraud

    A former equities trader for Cushing MLP Asset Management LP was sentenced Friday to 30 months in federal prison and forced to pay back more than $3.5 million in profits after pleading guilty to securities fraud, stemming from an alleged three-year front-running scheme under which he traded on insider information using his wife’s brokerage account.

  • April 27, 2015

    The Rising Stars Of White Collar Law

    The achievements of these young lawyers in white collar cases secured their placement on Law360's list of top attorneys under 40.

  • April 27, 2015

    Daimler Execs, Greek Officials Charged After Bribery Probe

    Greek officials on Monday hit seven people with bribery-related charges over €2 million ($2.18 million) in alleged kickbacks paid by German carmaker Daimler AG to secure Greek military vehicle contracts, according to local media reports.

  • April 27, 2015

    Sinopec Executive Resigns Amid Corruption Investigation

    China Petroleum & Chemical Corp., or Sinopec, said Monday that the vice-chairman of its board of directors has resigned following an announcement that he's under investigation by the ruling Communist Party's corruption watchdog agency.

  • April 27, 2015

    Ex-Bryan Cave Atty Pleads Not Guilty In Maxim Fraud Case

    Former Bryan Cave LLP transactional lawyer Harvey Newkirk pled not guilty Monday to charges of helping a client fraudulently obtain more than $8 million in bank financing to acquire Maxim magazine and trying to fraudulently obtain $34.5 million more.

  • April 27, 2015

    6th Circ. Backs Podiatrist's Conviction In Fraud Case

    The Sixth Circuit on Monday upheld a district court’s sentencing of a doctor convicted of participating in a multimillion-dollar false prescription and billing scheme, finding that evidence submitted against her was warranted and that her sentence was just.

  • April 27, 2015

    Foundry Insider Gets 78 Months, Vows 'Newman' Appeal

    Former Foundry Networks Inc. executive David Riley was sentenced on Monday to 6 1/2 years in prison for passing inside tips about the computer equipment company to a hedge fund analyst, but vowed to appeal in light of the Second Circuit’s decision in U.S. v. Newman.

  • April 27, 2015

    7-Eleven Boss Gets 7 Years For Unlawful Worker Scheme

    A former 7-Eleven franchisee was sentenced to 87 months in prison for employing and housing at least 50 workers living in the U.S. illegally, a result of one of the largest criminal alien employment investigations ever conducted by the government, the U.S. Department of Justice announced Monday.

  • April 27, 2015

    Crowell & Moring White Collar Vet Succeeds Loretta Lynch

    Top Loretta Lynch deputy and former Crowell & Moring LLP money laundering and foreign bribery legal expert Kelly T. Currie will take over as acting U.S. attorney for the Eastern District of New York, the Justice Department said Monday, the same day Lynch was sworn in as U.S. attorney general in Washington.

  • April 27, 2015

    Pa. AG Fights Contempt Hearings On Staffer's Termination

    A panel of Pennsylvania judges was told Monday it had no grounds to hold contempt hearings on whether state Attorney General Kathleen Kane fired a top staffer for testifying to a grand jury about Kane’s potentially illegal leak of confidential information to the media.

Expert Analysis

  • 4 Takeaways From The ABA Antitrust Spring Meeting

    Colin Kass

    As a deputy assistant director at the Federal Trade Commisision noted during one of the panels at the 63rd ABA Antitrust Section spring meeting, the FTC's investigations into nonmerger conduct typically are triggered by complaints from competitors, customers or suppliers. That means companies are not often aware that they are being investigated until it is too late, say attorneys with Proskauer Rose LLP.

  • Court Has Broad Authority Over Assets To Satisfy Restitution

    Daniel W. Levy

    The Second Circuit recently affirmed the government’s sweeping authority over a defendant’s assets in the face of unpaid restitution obligations. This authority includes the power to restrain assets prior to the entry of a restitution order, and — as exemplified by U.S. v. Bengis — this authority extends to assets held overseas, says Daniel Levy, a principal at McKool Smith PC and former federal prosecutor.

  • BSI Provides Road Map For Future Swiss Bank Agreements

    Matthew D. Lee

    The BSI SA nonprosecution agreement is the first public declaration of how the U.S. Department of Justice will treat banks looking to resolve their potential tax evasion-related criminal liabilities. Swiss banks that fail to make the kind of full and complete disclosures that BSI appears to have made do so at their peril, says Matthew Lee, partner at Blank Rome LLP and a former DOJ trial attorney.

  • Trading Inside Information With 'Friends' Post-Newman

    Jon Eisenberg

    Newman is a sea change in the law when it comes to insiders who tip friends without a quid pro quo. At least in the Second Circuit, the government’s argument that a mere tip to a friend violates insider trading law is dead on arrival, says Jon Eisenberg of K&L Gates LLP.

  • A New Tool For Extraterritorial Sanctions Enforcement

    Christopher LaVigne

    Recent sanctions enforcement actions have focused on overseas financial institutions and U.S. dollar clearing and associated “stripping.” The Schlumberger Oilfield Holdings Ltd. case, however, reflects a break from this trend. Relying on a theory of “facilitation,” the U.S. Department of Justice dramatically expanded the scope of prior criminal enforcement actions in this arena, say Christopher LaVigne and Danforth Newcomb of Shear... (continued)

  • Major Changes Coming To Sentencing Guidelines For Fraud

    Vince Farhat

    Through proposed amendments to the sentencing guidelines, the U.S. Sentencing Commission appears to be shifting the emphasis away from severely punishing those who caused a large group of victims to lose a small amount of money and toward those who meant to cause "substantial" financial harm to even one victim, say attorneys with Holland & Knight LLP.

  • A Look At The 1st Criminal 'Spoofing' Prosecution: Part 2

    Clifford C. Histed

    Given a recent decision in the first “spoofing” criminal case involving futures trader Michael Coscia, as well as recent regulatory guidance, it is fair to say that there is now a regulatory dragnet set for spoofers. One of the most effective ways rule enforcers prove intent is through the use of a trader’s own admissions, says Clifford Histed, partner at K&L Gates LLP and former federal prosecutor who supervised the investigation ... (continued)

  • 2015 Begins With A Drop In FCPA Enforcement Activity

    Marc Bohn

    The pace of enforcement under the U.S. Foreign Corrupt Practices Act has slowed considerably in 2015, with just three resolved enforcement actions during the year’s first quarter — all brought by the U.S. Securities and Exchange Commission — which represents the lowest level of enforcement to begin a year since 2006, say Marc Bohn and Austen Walsh of Miller & Chevalier Chtd.

  • A Look At The 1st Criminal 'Spoofing' Prosecution: Part 1

    Clifford C. Histed

    A federal judge recently ruled, in the first criminal case of its kind, that the "spoofing" and fraud indictment against futures trader Michael Coscia would not be dismissed. But under what circumstances will canceling a trade be considered a regulatory violation or, worse yet, a crime? The answer to that question is not always clear, says Clifford Histed, partner at K&L Gates LLP and former federal prosecutor who supervised the in... (continued)

  • REBUTTAL: Donziger’s Lies Cannot Excuse His Fraud

    Stephen W. Green

    Steven Donziger’s recent “op-ed” in this publication is his latest deception — repeating on the eve of appeal the lies he has told a thousand times before. Far from a never-before-detailed account, his article is nothing more than a recycling of discredited misrepresentations and outright falsehoods, says Stephen Green, vice president for policy, government and public affairs, Chevron Corp.