White Collar

  • March 27, 2015

    Ex-DHB Execs Must Pay $54M Restitution For Massive Fraud

    Former executives of body armor company DHB Industries Inc. who were convicted on a host of fraud and other charges were ordered to pay $53.9 million in restitution, according to an order filed in New York federal court Friday.

  • March 27, 2015

    A-Rod's Cousin Pleads Guilty In MLB Doping Scandal

    Yankees star Alex Rodriguez's cousin Yuri Sucart pled guilty Friday to his role in the Biogenesis of America LLC doping scandal that resulted in the suspension of more than a dozen Major League Baseball players, including Rodriguez.

  • March 27, 2015

    Exide's $133M No-Prosecute Deal OK'd In Pollution Row

    A Delaware bankruptcy judge on Friday approved a nonprosecution agreement between Exide Technologies Inc. and federal prosecutors requiring the company to admit to illegally handling hazardous waste at its Los Angeles-area battery recycling plant, and to close and clean up the plant, among other remedies costing up to $133 million.

  • March 27, 2015

    9th Circ. Clears 1 Convict In Oil Investment Scheme

    The Ninth Circuit has overturned a conviction in an alleged scheme intended to defraud investors by telling them they were investing in oil and gas leases on an Indian reservation.

  • March 27, 2015

    Discovery Halted In NJ Landfill Row On Grand Jury Concerns

    A New Jersey federal judge halted discovery Friday in a landfill owner's suit alleging a state environmental regulator illegally conspired to seize the property, after the company argued it has the right to refuse discovery questions because of a state grand jury investigation.

  • March 27, 2015

    Tribe Wants Town’s Dismissal Delayed In Jurisdiction Fight

    The Ute Indian Tribe asked a Utah federal judge Thursday to delay finalizing an order dismissing the town of Myton, Utah, from a decades-long jurisdictional fight over prosecutions of tribal members, requesting he first rule on pending motions.

  • March 27, 2015

    Ex-BLM Official Convicted For Approving Absent Deputy's Pay

    A Montana federal jury on Wednesday convicted a former U.S. Bureau of Land Management director who covered for a deputy who left the bureau to work for the Chippewa Cree Tribe, finding him guilty of fraud, theft of government property and false claims.

  • March 27, 2015

    Ex-Barclays Italy Chief Gets 32 Months For Corruption

    Barclays PLC's former top banker in Italy and an entrepreneur were each sentenced on Friday in a Milan court to two years and eight months in prison on corruption charges and ordered to pay $2.2 million to the English bank, an Italian newspaper reported.

  • March 27, 2015

    Venable Nabs Ex-DOJ Financial Fraud Honcho For DC Office

    The head of the U.S. Department of Justice's Financial Fraud Enforcement Task Force from 2011 to 2013 has joined Venable LLP as a partner in the firm's Washington, D.C., office, working on financial regulation and enforcement, the firm announced on Friday.

  • March 27, 2015

    Golf Channel Wants Mulligan On $6M Stanford Suit

    TGC LLC, doing business as Golf Channel, asked the Fifth Circuit on Wednesday to rehear its decision that the receiver for R. Allen Stanford’s Ponzi scheme could sue the sports channel for about $6 million, arguing that a previous ruling by the appeals court is at odds with the decision.

  • March 27, 2015

    Ex-Credit Suisse Bankers Get Probation In Tax Evasion Plot

    Two former Credit Suisse AG bankers who pled guilty to helping American clients evade taxes will avoid jail time and instead will pay at least $100,000 each in fines and serve five years of probation, a Virginia federal judge ruled Friday.

  • March 27, 2015

    Ex-Logica Manager Gets 10 Mos. For Insider Trading

    A former manager at the multinational IT firm Logica PLC was sentenced on Friday to 10 months in prison on three counts of insider trading ahead of the company's acquisition by a Canadian rival, according to the U.K.’s markets regulator.

  • March 27, 2015

    Former Broker-Dealer Execs Get 4 Years Each In FCPA Case

    Direct Access Partners LLC's former CEO Benito Chinea and former managing director Joseph Demeneses got four years in prison each on Friday for a $60 million Venezuelan bank bribery scheme — sentences said to be the longest yet for Foreign Corrupt Practices Act violations in the Second Circuit.

  • March 27, 2015

    Wrigley Field Rooftop Biz Owner Scammed Cubs, Gov't: Feds

    An attorney and owner of a rooftop business overlooking Wrigley Field has been indicted for allegedly defrauding the Chicago Cubs on royalties and failing to pay the business’s fair share of state and local taxes, Illinois federal prosecutors announced Friday.

  • March 26, 2015

    EU Authorities Nab Scammers In 6-Nation Diesel Tax Scheme

    European authorities on Thursday said they recovered millions of euros from a diesel fuel smuggling ring that disguised the fuel as it shuttled through the continent in order to avoid excise taxes.

  • March 26, 2015

    Brazil Construction Co. Galvao Seeks Bankruptcy

    A Brazilian construction company alleged to have worked with dozens of other construction companies to corrupt Petrobras executives asked a court Wednesday for permission to file for bankruptcy after laying off 1,700 people in recent weeks.

  • March 26, 2015

    Madoff Trustee Evades Sanctions Over Clawback Claim

    The judge presiding over the liquidation of Bernard Madoff’s defunct securities firm elected Thursday not to fine the trustee charged with recovering losses from the fraudster’s Ponzi scheme for making questionable assertions regarding a European investment adviser’s alleged complicity.

  • March 26, 2015

    Millennium Beats Off-Label Suit, But Free Speech No Factor

    A California federal judge on Thursday threw out a False Claims Act suit accusing Millennium Pharmaceuticals Inc. of illicit off-label promotion, but the ruling omitted any discussion of free-speech issues in the closely watched whistleblower case.

  • March 26, 2015

    7th Circ. Stands By 2 Convictions In Bribery Scheme

    The Seventh Circuit on Thursday upheld the convictions of a former Chicago alderman and an ex-employee of a pharmacy benefit management company over a bribery conspiracy to obtain a government contract, finding the size and nature of the contract merited the federal bribery charges.

  • March 26, 2015

    Eckert Seamans Sues Oil Recycling Co. Over Legal Bills

    Eckert Seamans Cherin & Mellott LLC filed suit in Pennsylvania state court on Wednesday aiming to recoup more than $55,000 in legal fees from the owners of a suburban Philadelphia oil recycling business facing an investigation over illegal dumping by the state attorney general’s office.

Expert Analysis

  • Biomet Again Underscores FCPA Risks In Life Sciences

    Gary Giampetruzzi

    While few details have been disclosed relating to the historic extension of Biomet Inc.'s deferred prosecution agreement, its warning is clear — where prosecutors question a company’s candor, cooperation or remediation of issues, the grip of formal oversight will not be easily released, say attorneys with Paul Hastings LLP.

  • A Closer Look At Madoff Victims' PwC, Citco Suit

    Christine Vargas Colmey

    A recent Southern District of New York ruling — bringing Madoff Ponzi scheme victims one step closer to recovery from Citco and PricewaterhouseCoopers — serves as a cautionary reminder to service providers to funds. They ought to be mindful that, even in the absence of contractual privity with investors, their acts and omissions can result in liability to those third parties, say Jonathan Sablone and Christine Vargas Colmey of Nixon Peabody LLP.

  • What Experts Can Say About Inadmissible Facts During Trial

    Jason McDonell

    For reliance material that is not admitted on the stand, consider bolstering the testimony by having the expert describe the evidence generally, but in a way that signals to the jury that the expert has a strong foundation of supporting facts and data. If done well, such testimony can open the door to admitting the evidence, say Jason McDonell and Heather Fugitt of Jones Day.

  • UK Competition And Markets Authority Targets Local Markets

    Alan Davis

    The U.K. Competition and Markets Authority's recent settlement with an association of estate and lettings agents, three of its members and a newspaper publisher is notable as an indication of the CMA's ambition to be more active in relation to cartel enforcement compared with its predecessor, say Matt Evans and Alan Davis of Jones Day.

  • Operation Choke Point Changing Culture But Not Mission

    Barkley Clark

    Suggestions that regulators are distancing themselves from Operation Choke Point and will be more restrained in holding banks accountable are nice but may not prove to be accurate. While the culture is shifting at the federal banking agencies, expect vigorous continued civil and criminal prosecutions, say Barkley Clark of Stinson Leonard Street LLP and Barbara Clark of Commercial Law Institute.

  • High Court May Take On Corporate 5th Amendment Privilege

    Ramzi Abadou

    A festering but virtually unnoticed circuit split over a legal doctrine the U.S. Supreme Court first recognized early last century may provide the Roberts court with the opportunity to grant corporate persons privilege against self-incrimination for the first time in U.S. history, says Ramzi Abadou of Kahn Swick & Foti LLP.

  • Biomet’s DPA Proves An Inescapable Device

    Amy Riella

    As just the latest in a series of companies facing additional scrutiny from U.S. regulators following the settlement of an enforcement action involving violations of the Foreign Corrupt Practices Act, Biomet Inc.’s current plight highlights the risks of continuing reporting and disclosure obligations contained in most deferred and nonprosecution agreements, say Amy Riella and Carla Jordan-Detamore of Vinson & Elkins LLP.

  • Lessons From The Commerzbank Settlement

    Michael Volkov

    The headlines certainly caught everyone’s attention — Commerzbank was forking over $1.4 billion to the U.S. and New York governments for violating U.S. sanctions and Bank Secrecy Act/anti-money laundering requirements. If you take the time to read the settlement papers, the picture is not pretty. In fact, you might even think Commerzbank and a number of individuals were very lucky, says Michael Volkov of The Volkov Law Group LLC.

  • What Yates Tells Us About High Court's View Of Criminal Law

    Kedar Bhatia

    If you look beyond the headlines and the immediate ruling in Yates v. U.S., the U.S. Supreme Court's 43-page decision, split across plurality, concurring and dissenting opinions, provides important guideposts about where the justices see the current state of criminal law, say Kedar Bhatia and Shamoil Shipchandler of Bracewell & Giuliani LLP.

  • When Your Corporate Client Plays Federal Agent

    Eli Richardson

    A client decides to proactively gather evidence of perceived crimes committed against it by its nemesis — then brings this evidence to you. Now what? Despite some important caveats, white collar practitioners sometimes can and should assist corporate clients in putting to use evidence the client has proactively gathered, says Eli Richardson, a member at Bass Berry & Sims PLC and former federal prosecutor.