White CollarRSS

  • November 2, 2010

    French Doctor Busted For Allegedly Selling Inside Tips

    A French doctor has been arrested in the U.S. and charged with insider trading for allegedly passing confidential information he gained from clinical trials to a portfolio manager who used it to avoid $30 million in losses.

  • November 2, 2010

    United Rentals CFO Gets Probation In Fraud Case

    The former chief financial officer of United Rentals Inc. was sentenced Tuesday to three years of probation and ordered to pay restitution of more than $1 million for making false filings with the U.S. Securities and Exchange Commission.

  • November 2, 2010

    Political Consultant Seeks Court Atty In Bribery Appeal

    Disgraced Michigan political consultant Samuel L. Riddle Jr. has asked for a court-appointed attorney to help him take a battle to withdraw his guilty plea in a bribery and extortion scandal to the U.S. Court of Appeals for the Sixth Circuit.

  • November 2, 2010

    Feds Fight Convicted Exporters' Acquittal Bids

    Prosecutors and defense attorneys are sparring over post-trial acquittal motions filed by convicted Chitron Electronics Inc. executives who say they simply misunderstood America’s arcane export laws when they illegally exported computer chips used in radars and other military equipment to China.

  • November 2, 2010

    Gov't Seeks 17 Years For Ex-Duane Reade CEO

    Prosecutors have said ex-Duane Reade CEO Anthony Cuti, who was convicted of a scheme to artificially inflate the value of his New York-based drugstore chain, should serve the full 17 1/2-year minimum prison sentence called for under federal guidelines.

  • November 2, 2010

    Alleged Insider Trader Gets Own Trial In Dick's Case

    The U.S. government has decided to hold separate trials for an investor accused of insider trading and two former Dick's Sporting Goods Inc. executives accused of extorting businesses out of millions of dollars, ruling that the charges are not connected, even if some of the defendants are.

  • November 2, 2010

    Q&A With Morgan Lewis' Eric Sitarchuk

    Amendments to the False Claims Act, a growing and sophisticated relator’s bar, expanded investigatory resources and the breadth of federally funded programs all point to a significant increase in criminal and civil false claims cases in all areas, says Eric W. Sitarchuk, chairman of Morgan Lewis & Bockius LLP's corporate investigations and white collar practice group.

  • November 1, 2010

    Ex-Duane Reade Exec Seeks To Avoid Prison Time

    Facing a recommended five years in prison for a securities fraud conviction, William Tennant, former chief financial officer of Duane Reade Inc., is asking a federal judge to spare him a prison sentence in favor of probation.

  • November 1, 2010

    Rajaratnam Fires Back At Feds Over Wiretap Evidence

    Galleon Group founder Raj Rajaratnam on Monday fired back at prosecutors' opposition to his bid to suppress wiretap evidence in his insider trading case, saying that the government's argument that it did not deceive a federal judge in procuring permission for this wiretap was “a model of misdirection.”

  • November 1, 2010

    Ex-Hedge Fund Manager Cops To $71M Ponzi Scheme

    Colorado hedge fund manager Sean Mueller pled guilty on Monday to charges stemming from a $71 million Ponzi scheme that ensnared 65 investors, including former Denver Broncos quarterback John Elway.

  • November 1, 2010

    Past Bribery Fair Game In Racketeering Trial: 5th Circ.

    A federal appeals court has declined to reconsider a panel’s ruling that a Louisiana political operative can be questioned about his prior bribery and obstruction of justice convictions if he testifies during his trial in a separate racketeering case.

  • November 1, 2010

    Skilling Asks 5th Circ. To Reverse Conviction

    Lawyers for Jeffrey Skilling, who is serving a 24-year sentence on charges that he brought down Enron Corp. through fraud, asked a federal appeals court Monday to reverse a 19-count conviction deemed invalid because of the U.S. Supreme Court’s decision in June to rein in the scope of honest services fraud.

  • November 1, 2010

    Madoff Recovery Lags Despite High Legal Fees

    The trustee overseeing the bankruptcy of Bernard Madoff's investment firm has recovered about $1.5 billion for victims of the infamous Ponzi scheme, but recovery lagged far behind expenses during the second and third quarters of this year.

  • November 1, 2010

    Utah Judge Exits $100M Ponzi Case Over Bias Claim

    Two judges in the case of a Utah investment guru and Web radio personality charged with running a $100 million Ponzi scheme have recused themselves, one following claims by the defense that he had consulted with the state agency investigating the defendant before the case was brought in federal court.

  • November 1, 2010

    Supreme Court Disbars Former Fen-Phen Torts Atty

    A mass torts attorney jailed for his alleged role in millions of dollars worth of fraudulent claims for fen-phen settlement funds has been formally banned from practicing law in the U.S. Supreme Court.

  • November 1, 2010

    All Nippon To Pay $73M In Guilty Plea For Price-Fixing

    All Nippon Airways Co. Ltd. has agreed to pay $73 million to resolve criminal charges that the Japanese airline conspired to fix rates for international air cargo shipments and to fix unpublished passenger fares for U.S. tickets.

  • November 1, 2010

    Defense, DOJ Spar Over Proffer Statements In Ring Trial

    As the corruption trial of ex-lobbyist Kevin Ring enters its third week, prosecutors and the defense team continue to spar over whether statements Ring made to the FBI prior to his indictment should be admitted as evidence.

  • November 1, 2010

    Georgiou Witness Had Psychiatric Issues, Attys Say

    Lawyers pushing for a new trial for George Georgiou, who was convicted of securities fraud in February, have accused U.S. prosecutors of suppressing evidence that a key witness had a history of psychiatric problems and cocaine abuse.

  • November 1, 2010

    Convicted Chicago Trash Contractor Seeks Acquittal

    A businessman convicted of bid-rigging in September after his company won a $1.7 million contract to repair plastic garbage carts used by residents of Chicago has asked for an acquittal or a new trial, claiming the government "fell woefully short" of proving its case.

  • November 1, 2010

    Chamber Of Commerce Says FCPA Needs Updating

    The recent increase in enforcement of the Foreign Corrupt Practices Act combined with a lack of judicial oversight and rulings on the law have made U.S. businesses less competitive in foreign markets and burdened them with high costs of compliance, according to a recent white paper commissioned by the U.S. Chamber of Commerce’s Institute for Legal Reform.