White Collar

  • February 5, 2016

    Jailed Atty Can't Block Calif.'s Bid For Fraud Suit Costs

    A California judge found Friday that the Golden State was the prevailing party in a mortgage fraud suit against numerous law firms and is therefore entitled to pursue costs, overruling objections from the sole remaining defendant — an attorney jailed in Florida on unrelated stock fraud charges.

  • February 5, 2016

    Harman Tax VP Arrested, Sued By SEC Over Insider Trading

    The vice president of tax at Harman International Industries Inc. was arrested and charged Friday in an alleged scheme to trade on news about the auto and consumer electronics company’s finances after he got an early look at the books, for which the SEC is also suing him.

  • February 5, 2016

    SEC's Stanford Case A Chance To Clarify Compliance Duties

    Compliance officers who worry they have an enforcement target on their back may soon get some clarity — and perhaps reassurance — from the U.S. Securities and Exchange Commission when it rules on a case involving convicted Ponzi schemer R. Allen Stanford's former top compliance manager.

  • February 5, 2016

    7th Circ. Nixes Infomercial Star’s Prison Sentence Appeal

    The Seventh Circuit on Friday refused to overturn or reduce a 10-year prison sentence for TV infomercial pitchman Kevin Trudeau, saying the jury properly found him guilty of criminal contempt for flouting a prior court order by making spurious claims about his weight loss book on TV.

  • February 5, 2016

    Wilmington Trust Risks $1B Liability If It Loses Fraud Case

    Wilmington Trust Corp. pled not guilty to federal criminal fraud charges Friday, but could be hit with more than $1 billion in liabilities, the bill for which corporate parent M&T Bank would have to foot, if it loses at trial, a U.S. prosecutor said in court.

  • February 5, 2016

    Ex-US Attys Call Old Tribal Convictions A Public Safety Tool

    Six former U.S. attorneys told the U.S. Supreme Court Thursday that allowing their offices to use all of a federal defendant’s tribal court domestic violence convictions to prosecute assault charges would significantly improve public safety on Native American reservations.

  • February 5, 2016

    NJ Acting AG To Become Rutgers General Counsel

    New Jersey's acting attorney general is departing to become general counsel at Rutgers University, leaving open the question of whether his eventual replacement as the state's top law enforcement official will also have the title of “acting” or receive the security of formal confirmation by the state Senate.

  • February 5, 2016

    Sheppard Mullin Hit With Suit Over Tech Co. 'Fraud Artist'

    A technology company lobbed a negligence suit at Sheppard Mullin Richter & Hampton LLP on Thursday in California state court accusing the firm of helping its “fraud artist” former CEO set up sham entities for his own enrichment.

  • February 5, 2016

    Canada Court Rejects Broker's Bid For Extradition Counsel

    A broker arrested in British Columbia in connection with the $10 million criminal "Make a Lot of Money" investment scheme being prosecuted in the United States does not have the right to have state-appointed counsel to review an extradition order, an appeals court judge in Vancouver said Friday.

  • February 5, 2016

    Ex-Fox Rothschild Atty Convicted Of Insider Trading

    An ex-Fox Rothschild LLP attorney was convicted Friday on charges that he used inside information about the firm’s work to trade ahead of a $760 million insurance industry merger in 2011.

  • February 5, 2016

    Ex-NFL Player Burress Ordered To Pay $56K In Tax Case

    Former NFL wide receiver Plaxico Burress was sentenced in New Jersey Superior court Friday to five years probation and ordered to pay $56,000 plus fines for dodging state income taxes in 2013.

  • February 5, 2016

    SEC's Texas Office Eyes Investor Info As Energy Prices Drop

    As energy prices continue their downward spiral, securities regulators who oversee Texas are keeping a sharp eye on investor disclosures and monitoring them for potential conflicts of interest, a U.S. Securities and Exchange Commission regional director said in an interview with Law360.

  • February 5, 2016

    Chicago Lawyer Cops To $22.9M Mortgage Fraud Scam

    A Chicago real estate lawyer pled guilty to bank fraud in Illinois federal court Friday, admitting his role in a $22.9 million mortgage fraud scheme centered on selling condos in a downtown high-rise to straw buyers.

  • February 5, 2016

    Ex-Defense Contracting Exec Gets 1 Year For Kickbacks

    A defense contractor's former subcontracting official was sentenced Thursday to a year in prison, after pleading guilty to negotiating a kickback in exchange for steering bomb dispersal equipment work to a British company.

  • February 5, 2016

    Pa. AG Kane Loses Bid To Lift Suspension

    The Pennsylvania Supreme Court rejected Attorney General Kathleen Kane's bid to resurrect her suspended law license on Friday, allowing the state Senate to take its next step towards removing her from office.

  • February 5, 2016

    UN Diplomat Not Immune In Ashe Bribery Case, Judge Says

    Dominican Republic United Nations envoy Francis Lorenzo does not have diplomatic immunity against charges that he took part in a bribery scheme centering on former U.N. General Assembly President John Ashe, a judge ruled Friday.

  • February 5, 2016

    Gibson Dunn To Face Subpoena In NJ Bridge Case

    A judge on Friday gave former New Jersey officials facing charges over the September 2013 closure of George Washington Bridge access lanes the green light to subpoena Gibson Dunn for more records from Gov. Chris Christie's office, allowing defense counsel to test their contention that the firm improperly withheld relevant documents.

  • February 4, 2016

    Expanded Chipotle Probe Appears Poised To Snarl Execs

    Chipotle's disclosure that prosecutors are now looking beyond a single restaurant embroiled in a norovirus outbreak and seeking food safety records from a three-year period shows that the investigation will focus on what the company's executives knew about safety issues and why they didn't report them sooner, attorneys say. 

  • February 4, 2016

    White Collar Group Of The Year: Steptoe & Johnson

    Steptoe & Johnson LLP's lawyers knew all along that former BP Gulf of Mexico exploration chief David Rainey was innocent. Targeted over the truth of public statements after the Deepwater Horizon disaster, Rainey still had to convince a jury — and the way his lawyers at Steptoe went about it landed them among Law360's White Collar Practice Groups of the Year.

  • February 4, 2016

    Convicted Hedge Fund Manager Can't Get New Trial: 9th Circ.

    A Silicon Valley hedge fund manager convicted in 2013 on seven counts of wire fraud lost a bid to get a new trial on Thursday when the Ninth Circuit held that the district court properly admitted a foreign investor’s testimony.

Expert Analysis

  • Yates Memo Creates A Privilege Paradox For GCs

    Ryan S. Hedges

    The U.S. Department of Justice's overly simplistic “facts are not privileged” pronouncement sets forth a new expectation for corporate investigations that will not be so easily achieved, say Ryan Hedges and Kirsten Konar of Vedder Price PC.

  • California Supreme Court In 2015: A Year In Transition

    Kirk C. Jenkins

    One year after the appointment of two new justices, the statistical evidence for any marked shift at the California Supreme Court is decidedly mixed, says Kirk Jenkins of Sedgwick LLP.

  • The Illinois Supreme Court In 2015: A Statistical Analysis

    Kirk C. Jenkins

    Last year, the Illinois Supreme Court's centrist justices were once again in the majority in most civil and criminal cases. Meanwhile, the court maintained its extraordinarily high rate of unanimity, while significantly decreasing the lag time between arguments and decisions, says Kirk Jenkins of Sedgwick LLP.

  • Fraud Trends For 2016 In 1 Word: Technology

    Gerry Zack

    The photo of a cat that an employee emails may actually contain some of the organization's most sensitive information. Steganography — a technique for hiding something in plain sight — has become a standard practice for cybercriminals in the last year and will continue to gain momentum in 2016, says Gerry Zack of BDO USA LLP.

  • A Cautionary Tale About 'Other Acts' And Insider Trading

    Daniel Wenner

    Former Major League Baseball star Douglas DeCinces' recent strikeout in the Ninth Circuit is noteworthy for the government’s application of Rule 404(b) in an insider trading case. Both this tactic — which appears like "guilt by association" — and outcome could have serious implications for other defendants in insider trading prosecutions, say Daniel Wenner and Kenton Atta-Krah of Day Pitney LLP.

  • Some Clarity On Madoff Recovery Calculations

    John H. Thompson

    A recent Southern District of New York opinion reinforced the common theme underlying all Madoff-related litigation — recovery will turn on the net amount of cash invested into and withdrawn from an account. The decision should enable account holders and the Madoff estate trustee to easily calculate the net equity of accounts that engaged in inter-account transfers, say John Thompson and Alex Lurie of McGuireWoods LLP.

  • Management System Standards' Growing Role In Compliance

    Christopher L. Bell

    The big question regarding the International Organization for Standardization's forthcoming anti-bribery management systems standard is whether it will follow in the footsteps of the environmental management systems standard and become a prominent feature in commercial relationships, and whether it will be viewed by the authorities as a credible foundation for an effective compliance program, says Christopher Bell of Greenberg Traurig LLP.

  • Cicero On Legal Advocacy

    Eliot J. Walker

    Today’s lawyers might be surprised to find that the teachings of Cicero remain relevant to modern practice. In recognition of the ancient Roman orator's birthday this month, Skiermont Derby LLP attorney Eliot Walker offers three practice points for lawyers and politicians plucked from Cicero’s seminal dialogue on rhetoric.

  • 9th Circ. Raises The Bar For Crime-Fraud Exception

    Jason H. Casell

    A recent grand jury investigation involving an advertiser that marketed a device designed to treat obesity is the Ninth Circuit’s latest pronouncement on the discoverability of privileged communications in the context of the crime-fraud exception. The decision vacated a scary district court order, says Jason Casell of Reed Smith LLP.

  • 4 Ways To Improve The Business Intake Process

    Terrence J. Coan

    When executed properly, an efficient new business intake process can drive growth, minimize risk, and ensure new clients support a law firm’s business and financial objectives. But determining how to streamline the NBI process is easier said than done, says Terrence Coan, leader of HBR Consulting LLC's information governance and risk management practice.