White Collar

  • November 24, 2014

    Ex-Arena Football Team Owner Faces Fraud Charges

    Federal prosecutors on Monday slapped the former owner of the folded Chicago Rush Arena Football League team with bankruptcy and wire fraud charges, alleging he attempted to hide assets from creditors and exaggerated his net worth in order to buy the team last year.

  • November 21, 2014

    Ex-Jenkens & Gilchrist Bigwig's Wife Wants To Keep Cash

    The wife of Jenkens & Gilchrist PC’s former Chicago head Paul Daugerdas is fighting to keep millions that she says are hers and can't be taken by the government after her husband's conviction for a $7 billion tax fraud, telling a New York federal court Friday that the burden of proof is on the government.

  • November 21, 2014

    Pepper Hamilton Stay Bid Axed In Penn State Privilege Row

    Pepper Hamilton LLP won’t get a reprieve from a Pennsylvania state court order mandating that it turn over documents from an independent investigation into the Jerry Sandusky sex abuse scandal while Pennsylvania State University appeals the order, according to a Thursday ruling.

  • November 21, 2014

    High Court Asked To Review Janus Criminal Relevance

    A former Busybox.net attorney on Wednesday asked the U.S. Supreme Court to review a Fourth Circuit decision in his fraud case that he says would unsettle securities markets and expand the definition of primary liability in both criminal cases and securities enforcement actions.

  • November 21, 2014

    Convicted Hacking Ring Member Gets 3.5 Years

    A man convicted of participating in a fraud ring’s alleged attempt to hack $15 million from customer accounts at banks like JPMorgan Chase Bank NA and Citibank NA and file false tax returns was sentenced Friday to almost three and a half years in prison, according to New Jersey federal prosecutors.

  • November 21, 2014

    Judge Accepts Credit Suisse $2.6B Tax Evasion Plea Deal

    A Virginia federal judge on Friday accepted a guilty plea from Swiss bank Credit Suisse AG on charges that it helped Americans evade taxes and ordered the bank to pay a $1.14 billion fine and a $667 million payment to the Internal Revenue Service.

  • November 21, 2014

    SEC Says It Can Pursue Wyly Widow In $261M Judgment

    The U.S. Securities and Exchange Commission urged a New York federal judge on Thursday not to drop tycoon Charles Wyly's widow as one of 16 newly named relief defendants for a currently $261 million judgment, saying it's well established that she can be named in that role despite her current bankruptcy.

  • November 21, 2014

    Banks Needn't Run From Anti-Money Laundering Risks: US

    Banks and other financial institutions, along with their employees, face increased penalties for failures to detect illicit transactions, but top U.S. officials said on Friday they do not want banks to drop whole lines of business in order to avoid risks.

  • November 20, 2014

    Ex-PetroTiger Counsel Disbarred For Role In Bribery Scheme

    A New York state appeals court on Thursday ruled to disbar the former general counsel of PetroTiger Ltd. for a federal felony conviction stemming from his role in a scheme to bribe a Colombian official in exchange for approval of a $39 million oil services contract.

  • November 20, 2014

    5 Convicted In $200M Medicare Con Ask 11th Circ. For Retrials

    Five defendants convicted of participating in a $200 million Medicare fraud scheme involving kickbacks for referrals of drug-addicted and vegetative patients argued before the Eleventh Circuit on Thursday that they should be granted new trials because they were not allowed a rebuttal witness at trial.

  • November 20, 2014

    Ex-CEO Of Massey Coal Pleads Not Guilty In Mine Blast

    Ex-Massey Energy Co. CEO Don Blankenship reportedly pled not guilty in West Virginia federal court Thursday to criminal charges of spurring on the safety failures found to have killed 29 miners in a 2010 explosion and of lying to the U.S. Securities and Exchange Commission.

  • November 20, 2014

    Platinum Mine Officers Indicted In Alleged Pollution Cover-Up

    The owners and operators of an Alaska platinum mine illegally discharged industrial wastewater into an important Pacific salmon spawning stream and then attempted to cover it up, according to a federal indictment handed down Tuesday.

  • November 20, 2014

    Ex-TigerDirect, Systemax Brass Charged In $9M Kickback Plot

    Two former senior executives for consumer electronics retailer TigerDirect Inc. and corporate parent Systemax Inc. were charged Thursday in Florida federal court on securities fraud and tax evasion charges related to a $9 million kickback scheme, prosecutors said.

  • November 20, 2014

    Ex-Air Force Officer Gets 3 Years For $5M Bribery Scheme

    A Florida federal judge on Wednesday handed down a three-year prison sentence to retired Air Force officer John Norman Sims for allegedly taking bribes from Air Force contractors in a scheme to defraud the military out of $5.4 million.

  • November 20, 2014

    XPLOR Energy Agrees To Pay $3.1M For Felony CWA Violation

    XPLOR Energy SPV-1 Inc. agreed on Wednesday to pay $3.1 million in Louisiana federal court for a felony violation of the Clean Water Act after illegally discharging pollutants from an offshore oil facility into the Gulf of Mexico for nearly two years.

  • November 19, 2014

    Texas' Southern District Rounded Up $136M In FY14, DOJ Says

    The Southern District of Texas collected more than $136 million in fiscal year 2014, including $33 million in criminal actions and $103 million in civil actions, the U.S. attorney’s office announced Wednesday.

  • November 19, 2014

    Iceland Bank's Ex-CEO Sentenced For Market Manipulation

    The former chief executive of Iceland's Landsbanki, Sigurjon Arnason, was sentenced on Wednesday to 12 months in prison, with nine months suspended, for manipulating markets in the run-up to the 2008 global economic meltdown, according to multiple reports.

  • November 19, 2014

    NY Lawyer Gets 9 Years For $2M Debt Relief Scam

    A suspended New York attorney was sentenced Wednesday to nine years in prison for his role in a $2.2 million debt-relief scheme in which customer funds were used to lease luxury cars and bankroll a Brooklyn nightclub.

  • November 19, 2014

    Madoff Trustee Told To Tweak Mass Repleading Bid

    The bankruptcy trustee for Bernard Madoff’s investment fund on Wednesday moved forward with his effort to replead dozens of cases against entities that purportedly benefited from the notorious Ponzi scheme, after a New York bankruptcy judge instructed the trustee to address the few objections to repleading.

  • November 19, 2014

    Ohio High Court Indefinitely Suspends Atty Over Child Porn

    The Supreme Court of Ohio on Wednesday indefinitely suspended an attorney who was released from prison in November 2012 after serving 43 months behind bars for a child pornography conviction, with two justices dissenting to say they believe he should be disbarred.

Expert Analysis

  • DOJ Is Moving Away From The Halliburton Opinion

    Charles Duross

    The U.S. Department of Justice recently issued its second Foreign Corrupt Practices Act opinion release of 2014. The DOJ's conclusion that the acquisition of a company does not create FCPA liability where none existed before is both unsurprising and entirely consistent with the FCPA resource guide, but perhaps more interesting than what the DOJ said is what the DOJ did not mention — the Halliburton opinion, say attorneys with Morri... (continued)

  • Differentiate Your Litigation Practice With Data Security

    Jennifer Topper

    Despite the significant tilt toward technology in how litigation is now conducted, many senior lawyers still delegate tech-related issues to e-discovery specialists or associates at their firms. This is a missed opportunity not just for client development, but also for shaping the way the firm and lawyer are seen in the eyes of corporate counsel, says legal industry business development specialist Jenn Topper.

  • Voluntary Disclosure: The Continuing FCPA Debate

    Michael Volkov

    In the absence of a defined benefit that a company can earn from voluntary disclosure, Foreign Corrupt Practices Act practitioners are left to guess the exact benefit or range of outcomes that could result. Some have dusted off an old proposal to address this issue — adoption of a corporate leniency program similar to that used by the Antitrust Division. The proposal has no merit, says Michael Volkov of The Volkov Law Group LLC.

  • Does Dodd-Frank Protect Foreign Whistleblowers?

    Matthew K. Edling

    In Liu v. Siemens, the Second Circuit upheld a ruling from the Southern District of New York, concluding that Congress did not envision the Dodd-Frank Act protecting foreign whistleblowers. Neither Liu court, however, attempted to reconcile this conclusion with the fact that Dodd-Frank governs violations of the Foreign Corrupt Practices Act — a definitively extraterritorial law, say Matthew Edling and Ben Fuchs of Cotchett Pitre & McCarthy LLP.

  • Novartis FCA Case Reaffirms Importance Of Company Policies

    Michael Loucks

    To the extent other courts adopt the New York federal court's analysis in U.S. v. Novartis Pharmaceuticals Corporation, the collateral consequence of an employee breach of internal policy or industry code of ethics and a corporate failure to appropriately sanction those employees could yield adverse consequences in the event of follow-on federal False Claims Act litigation, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • The Print Room: How To Spend Less And Get More

    Senthil Rajakrishnan

    Our estimates indicate that some law firms spend up to $8,000 per attorney each year on print-related costs. Although we live in a digital world, hard copy printing will remain an important part of business for years to come. Changing technology, however, offers opportunities to improve efficiencies and save money, say Senthil Rajakrishnan and Ryan Mittman of HBR Consulting LLC.

  • Dewey Partner Clawback Ruling May Hurt New York Law Firms

    Evan C. Hollander

    Unless the recent ruling in the Dewey & LeBoeuf LLP bankruptcy case is overturned on appeal or the New York Legislature amends the state’s fraudulent transfer and partnership laws, partners of New York firms will bear greater risk if their firms fail than will members of many non-New York partnerships. This risk factor might even affect decisions by prospective lateral partners about which firms to join, say attorneys with Arnold & Porter LLP.

  • Takeaways From Report On Global Anti-Bribery Enforcement

    Sean Hecker

    While Transparency International’s 10th annual progress report on global enforcement of the Organization for Economic Cooperation and Development’s Anti-Bribery Convention is a useful reminder of the still-nascent stage of many cross-border anti-bribery regimes, compliance professionals should not rely too heavily on the country-by-country assessments, say attorneys with Debevoise & Plimpton LLP.

  • Scalia’s Deference Argument Could Have Dramatic Effects

    Matthew T. Martens

    If a litigant were to take up Justice Antonin Scalia’s invitation to raise the issue of the amount of deference owed to executive agencies’ interpretations of laws that contemplate both criminal and civil enforcement, it could mean that the U.S. Securities and Exchange Commission will face an uphill battle making and defending the rules that it is required to promulgate, say attorneys with WilmerHale.

  • DOJ Suggests FCPA Successor Liability For Stock Purchases

    Taylor J. Phillips

    The U.S. Department of Justice’s second Foreign Corrupt Practices Act opinion procedure release of the year reemphasizes the department’s position on successor liability, but in doing so, appears to assert that there can be FCPA successor liability even in stock purchases — a position that may surprise some transactional attorneys, say attorneys with Bass Berry & Sims PLC.