Two men were convicted Wednesday in Florida federal court for their roles in a time-share resale telemarketing scheme that fraudulently obtained about $5 million from its victims, the U.S. Department of Justice said.
Federal prosecutors stunned Penn National Racetrack on Friday with a rare law enforcement action on alleged doping by trainers and manipulation of handicapping data by an employee, hitting four individuals at the central Pennsylvania facility, also home to a casino, with fraud charges.
Firms should get rid of compensation systems that create internal competition and reward sharp elbows. For decades, we’ve had a system at Jones Day that rewards teamwork, and it’s one of the reasons why so many women are now in leadership positions, says Mary Ellen Powers, partner-in-charge of Jones Day's Europe/Middle East region.
Following a series of high-profile, high-dollar settlements with a host of federal and state agencies capped off by a $13 billion mortgage-backed securities deal, JPMorgan Chase & Co.’s top attorney said Thursday that regulators were piling on banks with duplicate enforcement actions.
Utah Attorney General John Swallow resigned on Thursday amid investigations into a host of bribery and ethical misconduct allegations, forcefully denying the accusations that have derailed his yearlong tenure as Utah's top prosecutor.
A government witness on Thursday linked an SAC Capital Advisors LP analyst who worked for portfolio manager Michael Steinberg to a "corrupt network" of tech industry-oriented insider traders, opening the first day of testimony in Steinberg's insider trading trial.
A proposed $800 million settlement between the bankruptcy trustee recovering funds for Bernard L. Madoff investors and a firm that invested nearly $2 billion in Madoff's Ponzi scheme has fallen through, according to reports Thursday.
Two former officials at a suburban Chicago water department were sentenced to probation Thursday for lying to environmental regulators over two decades about supplementing the village’s water supply from a well that turned out to be contaminated, avoiding the prison time sought by prosecutors.
A New York federal judge on Thursday denied bail for Ross William Ulbricht, the alleged owner of contraband website Silk Road, citing government claims of his involvement in six planned murders-for-hire.
The former chief financial officer of Manhattan brokerage firm Needham & Co. pled guilty Thursday in New Jersey federal court to stealing $1 million from Needham by paying fraudulent invoices submitted by accomplices, operating as vendors, for services that had never taken place.
Already well-known as a heavy-hitter for high-profile clients in the political realm, last year Chadbourne & Parke LLP’s Abbe David Lowell scored a landmark win in the courtroom on behalf of sex scandal-plagued former presidential candidate John Edwards, beating back campaign finance charges and landing him a spot on Law360’s roster of White Collar MVPs.
A California federal judge on Tuesday rejected the former owner of Weco Aerospace Inc.'s renewed acquittal bid in a suit over the alleged use of unapproved materials and methods in aircraft repair, rejecting the argument that the government had not presented sufficient evidence.
The U.S. Securities and Exchange Commission filed suit in New York federal court Thursday, accusing a former Marvell Technology Group Ltd. employee of tipping nonpublic information that was used in conjunction with Raj Rajaratnam's giant insider trading scheme and helped generate $680,000 in unlawful profits for Spherix Capital LLC.
Litigation boutique MoloLamken LLP has snagged an assistant U.S. attorney and clerk for former U.S. Supreme Court Chief Justice William Rehnquist for its Chicago trial and appellate practice, the firm revealed Wednesday.
Former U.S. Sen. Ted Kaufman, D-Del., sounds off on Attorney General Eric Holder's record on financial crime and efforts to rein in speculative bank trading through the Volcker Rule.
A federal grand jury indicted two executives of a Japanese automotive supplier for their alleged involvement in a conspiracy to fix the prices of anti-vibration car components sold to Toyota Motor Corp. and drive up the cost of the automaker’s vehicles, the U.S. Department of Justice announced Thursday.
A Washington appeals court on Thursday disbarred Matthew Kluger, a former Wilson Sonsini Goodrich & Rosati PC mergers and acquisitions attorney, following his 12-year prison sentence on charges he used his position to orchestrate a $37 million insider trading scheme.
Three Takata Corp. executives have agreed to plead guilty to participating in a plot to fix the price of seatbelts sold to Toyota Motor Corp., Honda Motor Corp. and others, the U.S. Department of Justice said Thursday.
Davis Polk & Wardwell LLP has lured another former government official to its ranks, announcing Thursday that a former U.S. attorney for the Eastern District of Virginia will be joining the firm's white collar criminal defense and government investigations group in the first quarter of 2014 as a partner in its Washington, D.C., office.
A Florida lawyer pled guilty Wednesday in federal court to a charge of conspiracy to commit mail and wire fraud for his role in an international investment fraud scheme that prosecutors said scammed victims out of more than $137 million.
In Brazil, enacting a law does not guarantee it will be enforced. So it remains to be seen whether the new Brazilian Anticorruption Act will have a real impact. But one thing is certain: In the deal scenario, sufficient anti-corruption due diligence and negotiation of protective language in transaction agreements will be a must to avoid liabilities and reputational damage, say Lior Pinsky and Renata Fialho de Oliveira of Veirano Advogados.
Unfortunately, the credentials normally supplied by Big Law firms in beauty contests simply do not tell in-house counsel what they really want to know. Without discounting the difficulty of obtaining helpful information from candidates for outside counsel, there is one question that may be useful for in-house counsel to pose, says Andrew Jarzyna of Ulmer & Berne LLP.
In a move reminiscent of recent guidance on the U.S. Foreign Corrupt Practices Act, Russia’s Supreme Court has weighed in on Russian anti-corruption law — the first such guidance in 13 years. From the perspective of multinational companies, two of the most significant aspects are likely to be guidance on what qualifies as a bribe under the Russian law and its expanded definition of an extortion defense, say attorneys with Debevoise & Plimpton LLP.
Although there may be some marginal utility in the U.S. Securities and Exchange Commission's new admissions of wrongdoing policy with respect to resolving whether previously eluded insurance coverage may be available, we can expect litigation over insurance coverage to continue, says John Hughes of Edwards Wildman Palmer LLP.
While the U.S. Securities and Exchange Commission’s fiscal year closed on Sept. 30, the agency typically does not report its annual statistics until November or December. Yet trends from the first three quarters of the fiscal year provide a glimpse of what the market can expect for the full year — namely, a reduction in new enforcement actions, say David Marcus and Sara Gilley of Cornerstone Research.
President Obama seems to be of the view that if law school were reduced to two years, students would incur two-thirds of the expense of attending law school, be burdened by two-thirds of the debt they currently have, and be generally economically better off than they are today after three years of law school. Most startling about the president’s proposal, however, is that he did not discuss the educational effect of his suggestion on the students or the effect on their clients, says Fred Isquith of Wolf Haldenstein Adler Freeman & Herz LLP.
A special task force of the American Bar Association recently proposed to the United States Sentencing Commission substantial amendments to the U.S. sentencing guidelines for economic crimes. While there is work to be done to make the proposals more concrete, this would represent the most significant philosophical shift in sentencing in white collar cases since the inception of the sentencing guidelines — even if they are adopted only in part, say Daniel Levy and Sachin Bansal of McKool Smith PC.
When it comes to preventing cyberattacks, the U.S. government can’t protect its own networks, let alone those of large law firms. And when it comes to deterring and punishing intruders, our government offers even less. We have to do more than play defense. We didn’t reduce street crime by requiring pedestrians to buy better body armor every year, says Stewart Baker, a partner with Steptoe & Johnson LLP and former assistant secretary for policy at the U.S. Department of Homeland Security.
What should an attorney do in the middle of a deposition if her client answers in a way that suggests a misunderstanding of the question or sudden memory loss? She will likely want to confer with her client at the next available opportunity, but her ability to do so without waiving privilege will depend, in part, on where the deposition is taking place, say attorneys with Pillsbury Winthrop Shaw Pittman LLP.
Supply conditions in the auto industry have become conducive to cartels. Since at least the early 1990s, the supplier relationship has changed from one based almost entirely on personal relationships to one where huge contracts can be lost if the offered price is just a few pennies too high. Perhaps the pressure to stay in business and a newfound ability to reach a consensus with the few real competitors has been too great a temptation, says Steven Cernak of Schiff Hardin LLP.