White Collar

  • July 23, 2014

    JPMorgan Ducks Suit Claiming Leaders Knew Of Madoff Fraud

    A New York federal judge on Wednesday tossed a shareholder derivative action claiming JPMorgan Chase & Co. leaders knew Bernard Madoff was engaged in fraud but turned a blind eye to preserve its lucrative profits from Madoff-related business, finding it didn't plead particularized facts.

  • July 23, 2014

    UBS Asked To Put Up $1.1B Bail In Money Laundering Probe

    French officials placed UBS AG under formal investigation Wednesday for alleged money laundering, ordering the Swiss banking giant to put up bail of €1.1 billion ($1.49 billion) in a growing probe of claims that it helped wealthy clients dodge French taxes, The Wall Street Journal reported.

  • July 23, 2014

    Madoff Judge Denies Fake Motion To Disqualify US Atty

    A New York federal judge on Wednesday denied an apparently fake motion on behalf of Bernie Madoff seeking to disqualify the U.S. Attorney from Madoff’s criminal suit on grounds that include the use of “voice-to-skull technology" to influence the court.

  • July 23, 2014

    Jones Day Snatches Up Akin Gump Litigation Partner

    Jones Day has hired an Akin Gump Strauss Hauer & Feld LLP litigation partner and former assistant U.S. attorney to join the global firm's securities litigation and Securities and Exchange Commission enforcement practice in New York, Jones Day recently announced.

  • July 23, 2014

    SEC Says Stanford's Criminal Conduct Charges 'Slanderous'

    The U.S. Securities and Exchange Commission on Wednesday urged a Texas federal judge to reject convicted Ponzi schemer Robert Allen Stanford’s call to appoint a special prosecutor and advise the court of criminal conduct by a court-appointed officer, calling his allegations “slanderous, sensational and unsupported.”

  • July 23, 2014

    2 KFI Trade-Theft Accomplices Sentenced To Probation

    A California federal judge on Wednesday sentenced two accomplices of disgraced Korn/Ferry International recruiter David Nosal to one year of probation each, finding that their cooperation helped the firm secure Nosal's conviction for hacking, stealing trade secrets and conspiring to use proprietary information.

  • July 23, 2014

    Perkins Coie Lures Ex-SEC Atty From Morrison & Foerster

    Former Morrison & Foerster LLP partner and U.S. Securities and Exchange Commission enforcement attorney Sean T. Prosser has joined Perkins Coie LLP's white collar and investigations practice in its San Diego office, the firm said this week.

  • July 23, 2014

    FHA Official Charged With Stealing DOT Grant Money

    A high-ranking Federal Highway Administration official was charged Wednesday in New Jersey federal court on six counts of making false statements and fraud for allegedly funneling grant funds he oversaw to himself through a straw corporation and falsifying disclosure documents to conceal the fraud.

  • July 23, 2014

    Ex-Husband Of 'Sopranos' Star Denies $300M Stock Fraud

    Two executives of a New York investment firm, one of whom is the ex-husband of an actress from “The Sopranos,” pled not guilty Wednesday to federal charges they helped run a $300 million stock manipulation scheme.

  • July 23, 2014

    Bingham McCutchen Adds Ex-SDNY Atty to White-Collar Group

    A former Manhattan federal prosecutor has left his post after five years of high-profile prosecutions including hedge fund managers Michael Balboa and Rengan Rajaratnam to join Bingham McCutchen LLP’s white-collar practice in New York.

  • July 23, 2014

    Suspected Cybercrime Ring Indicted Over StubHub Hack

    Six individuals have been indicted in New York for their alleged participation in an international cybercrime ring that authorities in North America and Europe have linked to unauthorized electronic ticket purchases made through more than 1,600 StubHub Inc. users' accounts, Manhattan's district attorney said Wednesday.

  • July 23, 2014

    Fake Fried Frank Atty's Hubby Can't Retract Guilty Plea

    A Florida federal judge on Wednesday said the record doesn't support allowing the withdrawal of a guilty plea by a man whose wife copped to impersonating a Fried Frank Harris Shriver & Jacobson LLP attorney, as part of the couple's alleged scheme to obtain funds for a sham bank-software company.

  • July 23, 2014

    Philly Union Leader Can't Kick Racketeering Charges

    A Pennsylvania federal judge has denied requests by Philadelphia ironworkers' union leader Joseph Dougherty and four others to dismiss charges implicating them in creating “goon squads” that set fires, assaulted workers and sabotaged property to strong-arm contractors into hiring union labor.

  • July 23, 2014

    Ex-Jefferies Trader Gets 2 Years For RMBS Fraud

    Jesse Litvak, a former Jefferies Group LLC trader convicted of defrauding a U.S. government program designed to aid mortgage-backed securities investors following the financial crisis, was sentenced on Wednesday to two years in prison.

  • July 23, 2014

    Former CEO Of Noted Charity Jailed For Huge Looting Scheme

    William Rapfogel, the former CEO of the Metropolitan Council on Jewish Poverty, was sentenced Wednesday morning to 40 months to 10 years in prison and ordered to pay $3 million to the noted New York City charity after he admitted to participating in a decades-long looting and insurance kickback scheme.

  • July 23, 2014

    Sahara Can Sell $1.7B Hotel Stakes For Exec's Bail Fund

    India's Supreme Court on Tuesday said Sahara India Pariwar entities can sell the company's stake in New York City's Plaza Hotel and Dream Downtown and London's Grosvenor House for $1.7 billion to bail out company Chairman Subrata Roy, who has been jailed over alleged securities law violations.

  • July 23, 2014

    Philly Traffic Court Judges Dodge Fraud, Conspiracy Charges

    All six judges accused in the Philadelphia Traffic Court ticket-fixing scandal were acquitted on Wednesday on conspiracy and fraud charges, but a federal jury found four of the judges guilty of perjury or lying to federal investigators.

  • July 22, 2014

    Defense Contractor Fights For Testimony Of US Prosecutor

    The Public Warehousing Co., accused of defrauding the government on food delivery contracts during the Iraq war, fired off a motion Monday seeking to cross-examine a prosecutor that the company has accused of intimidating a key witness.

  • July 22, 2014

    Newark Police To Make Reforms After DOJ Finds Racial Bias

    Newark, New Jersey’s police force on Tuesday announced an agreement with the U.S. Department of Justice to implement changes to its stop, arrest and force policies, to address a three-year study that yielded evidence of unconstitutional, racially biased policing.

  • July 22, 2014

    Hedge Fund Facing IRS Probe Says It Acted Legally

    Executives for the hedge fund Renaissance Technology Corp. LLC told a Senate subcommittee on Tuesday that they believed the company acted appropriately under current law in purchasing complex, structured financial products from financial institutions that lawmakers say allowed the funds to evade federal leverage limits and billions in capital gains taxes.

Expert Analysis

  • Government Seeks To Outsource Criminal Enforcement

    Nathan Hochman

    The prosecution of FedEx Corp. for allegedly failing to heed signs that illegal Internet pharmacies were using its facilities represents a significant expansion of the U.S. Department of Justice’s efforts to outsource law enforcement to private third parties and then go after these third parties when they fail to meet an undefined standard of compliance, rather than focus on the criminals, say attorneys with Bingham McCutchen LLP.

  • Trial-Ready In 180 Days: Prepare For SDNY's Rocket Docket

    Isaac S. Greaney

    A growing trend in the Southern District of New York akin to a sua sponte rocket docket can provide defendants with an opportunity to set the tone of discovery and shift the burden and risks of the schedule to their adversaries, say Isaac Greaney and Jackie Lu of Sidley Austin LLP.

  • When You Are Responsible For Your Book Of Business

    Jennifer Topper

    Finding prospective clients and retaining them has little to do with your legal training and expertise, and yet you have no practice without successful client acquisition and retention. There is no reason you cannot apply your basic legal training to successful sales efforts hinging upon your practice strength and experience, says independent law firm consultant Jennifer Topper.

  • An Inventive Way To Remove Pure State Court Claims

    Michael E. Blumenfeld

    Nondiverse state court defendants facing purely state law claims that seek to secure federal jurisdiction should determine whether a good faith basis exists to pursue a third-party action against a federal actor in order to trigger the representative U.S. Attorney’s certification and remove such claims under the Westfall Act, say Michael Blumenfeld and Jonathan Singer of Miles & Stockbridge PC.

  • Beyond Citigroup: A Look At Corporate Settlements

    Kirsten Mayer

    A decision in Better Markets Inc. v. United States Department of Justice may provide more clarity on the scope of Executive Branch discretion in resolving corporate cases and whether there is any role for “public interest” litigation in such matters, say attorneys with Ropes & Gray LLP.

  • Powerful Tools For Discovery And Litigation Strategy

    Nathalie Hofman

    Analytics offer opportunities for refining both discovery strategy and overall litigation strategy by providing information to support better informed decisions. As an added bonus, they can result in significant cost savings, say Nathalie Hofman and Carolyn Southerland of Huron Consulting Group Inc.

  • Madoff Foreign Entanglement Ruling Unsurprising

    Michael L. Cook

    U.S. District Judge Jed Rakoff’s recent decision to block the Madoff Securities trustee's ability to recover customer funds transferred abroad by foreign feeder funds is hardly novel in view of U.S. Supreme Court and Second Circuit precedent, says Michael Cook of Schulte Roth & Zabel LLP.

  • PRISM Scatters Attorney-Client Privilege

    Any attorney sending or storing confidential client information or privileged communications via the cloud may be knowingly exposing those communications to scrutiny by the U.S. government via programs such as the National Security Agency’s PRISM — and arguably, even waiving any claim of privilege as a result, say attorney Thomas Mullaney and Vaultive CEO Elad Yoran.

  • Ambiguities Remain Despite 9th Circ. AU Optronics Ruling

    Robert E. Bloch

    Unfortunately, the Foreign Trade Antitrust Improvements Act does not provide much guidance on how “direct” an effect on U.S. commerce must be for it to come within the scope of the Sherman Act, and subsequent case law — including the recent Ninth Circuit AU Optronics ruling — has not settled the issue, say attorneys with Mayer Brown LLP.

  • 2nd Circ.'s Not-So-Subtle Wink To District Court Judge

    Jed M. Silversmith

    In United States v. Park, the Second Circuit handed the government a rare victory by vacating a district court's probationary — rather than prison — sentence for tax fraud, but the government’s victory may be pyrrhic, says Jed Silversmith, of counsel at Blank Rome LLP and a former federal prosecutor.