The ex-mayor of Rosemead, Calif., pled guilty Monday to attempted witness tampering and making false statements to the FBI in a corruption case related to an alleged bribery scheme over a real estate development project.
A couple on Bravo's “The Real Housewives of New Jersey” pled not guilty to two new charges of bank and loan application fraud in New Jersey federal court Wednesday, adding to their previous not guilty plea on 39 counts of bank and bankruptcy fraud.
A U.S. Securities and Exchange Commission official said Wednesday that he expects Foreign Corrupt Practices Act violations to be “increasingly fertile ground” for the agency's Dodd-Frank Act whistleblowing program and warned companies that self-reporting potential misdeeds is more important than ever.
Former Rochdale Securities LLC trader David Miller was sentenced Wednesday to 2 1/2 years in prison for his role in a trading scam involving approximately $1 billion of Apple Inc. stock, according to federal prosecutors.
Three former General Electric Co. finance executives convicted of municipal bond-related bid rigging asked the Second Circuit Tuesday to overturn their convictions, arguing that federal prosecutors brought their charges too late.
Bernard Madoff's former controller said in New York federal court Tuesday that she helped him shuffle money around his company to make phony profits, pointing the finger at other ex-Madoff employees now on trial for allegedly aiding his fraud.
The Eleventh Circuit on Monday affirmed the convictions and prison sentences of a Florida couple who prosecutors say used fake identities to cash in on funds set up to compensate victims of the 2010 Deepwater Horizon oil spill and other disasters.
With prosecutors continuing to investigate JPMorgan Chase & Co. following its record $13 billion mortgage settlement Tuesday, U.S. Attorney General Eric Holder has a chance to satisfy the public's Wall Street bloodlust by following up with criminal charges against individual bank executives.
Law firm Vorys Sater Seymour & Pease LLP will pay the city of Lorain, Ohio, $3 million in a settlement approved by the Lorain City Council on Monday to resolve claims against the firm and a former attorney who was recently convicted in a corruption scandal.
JPMorgan Chase & Co.'s $13 billion settlement on Tuesday marked the end of the bank's negotiating process with federal and state regulators over alleged false statements regarding the quality of mortgage-backed securities during the housing bubble, but it could be the just beginning of big settlements for other banks.
With the Foreign Account Tax Compliance Act taking full effect in July, investors across the globe are concerned about the U.S. government’s silence on whether it will seek criminal prosecution for violators and how the Internal Revenue Service plans to regulate foreign-to-foreign transactions.
U.S. Deputy Attorney General James M. Cole told a conference of business attorneys Tuesday that their role in the enforcement of the Foreign Corrupt Practice Act was vital to the government’s regulatory enforcement agenda, while warning of “serious consequences” for companies that try to hide misconduct.
Parallel civil and criminal cases targeting financial crime will likely rise in the coming years, but their expansion faces some limitations, the recently departed enforcement chief of the U.S. Commodity Futures Trading Commission told banking officials during a New York conference Tuesday.
The U.S. Department of Justice brought formal charges Tuesday against six investors for their alleged roles in a conspiracy to manipulate the bidding process for tax lien auctions conducted by New Jersey municipalities, bringing the number of charged entities in an overarching DOJ probe to 20.
In response to a scandal at a U.K. National Health Service hospital at which patients were subjected to "appalling" conditions and treatment, the British government on Tuesday proposed a new law that would create jail sentences for willfully negligent doctors and nurses.
An SEC compliance examiner was arrested in New York Tuesday, facing criminal charges in federal court for making false statements about keeping certain stocks that SEC employees are prohibited from owning under the agency’s ethics rules.
The U.S. government will continue to bring major Foreign Corrupt Practices Act cases against companies and individuals next year, and companies operating internationally can expect increasing scrutiny from law enforcement agencies working across borders, two top government FCPA officials said on Tuesday.
The Second Circuit on Monday said it will not rehear the appeal of Raj Rajaratnam, founder of hedge fund management firm Galleon Group LLC, regarding a controversial cellphone wiretap that led to his insider trading conviction and 11-year prison sentence.
A Manhattan jury on Monday convicted a onetime aide to former Philippines first lady Imelda Marcos of stealing a famous Claude Monet painting and selling it for $32 million without disclosing the sale in tax returns, according to prosecutors.
A New Jersey state prosecutor told the state Supreme Court on Monday that a jury's conviction should be reinstated because the defendant was not robbed of his choice of counsel as he claims, queuing up an opinion that could affect criminal procedures statewide.
Litigation is typically the single largest line item in the general counsel’s budget. Yet it was long considered exempt from client demands for lower costs and greater certainty. Until now. The past few years changed this perception, leaving some litigators at a loss for how to address client demands for greater predictability, transparency and value. Expert witnesses remain an untapped resource, say consultants Jane Kidd and Marcie Borgal Shunk.
Although the government shutdown and the debt ceiling crisis are occasionally conflated, they have distinct effects on government operations and on parties interacting and transacting with the government, says Boris Bershteyn, of counsel with Skadden Arps Slate Meagher & Flom LLP and former general counsel of the White House Office of Management and Budget.
Canada's recent prosecution of the first individual ever convicted under the Canadian equivalent to the Foreign Corrupt Practices Act shows that now more than ever, if your company receives a knock on the door from U.S. regulators regarding alleged violations of the FCPA or another federal law touching on international business, your company may also receive a visit from foreign regulators, say Steven Pelak and Jason Prince of Holland & Hart LLP.
While the result in the recent decision of St. Paul Mercury Insurance Co. v. Miller is a noteworthy departure from other decisions ruling that claims brought by the Federal Deposit Insurance Corp. as a receiver do not trigger insured v. insured exclusions, the U.S. District Court for the Northern District of Georgia's opinion is seriously flawed for several reasons, say attorneys with Covington & Burling LLP.
Given that there is no apparent legal requirement to conduct a data breach response investigation in a particular way — and only vague guidance provided by HIPAA and the PCI Data Security Standards — companies may be tempted to reduce the scope of the enterprise impact assessment to what they consider the bare minimum. This approach should be resisted for two important reasons, say Kim Peretti of Alston & Bird LLP and Jason Straight of Kroll Advisory Solutions.
The last several months have seen a notable uptick in municipal securities actions brought by the U.S. Securities and Exchange Commission. While enforcement efforts have thus far been mostly directed to issuers, recent actions suggest that the SEC may be shifting its attention to municipal underwriters, say William White and Jeffrey Lehtman of Allen & Overy LLP.
A new hire or third party who is related to a government official may be viewed as an anti-corruption red flag by U.S. authorities. A company must take steps to be able to show that the new hire’s relationship with the government official is unrelated to improper conduct, say Richard Craig Smith and Paul Sumilas of Norton Rose Fulbright.
Now, even if a company pays millions or even billions of dollars to secure a resolution and bring closure to a costly multiyear U.S. Department of Justice investigation, it may nevertheless find itself in a long-term relationship with the DOJ that includes ongoing oversight and the risk of additional penalties. That is the new reality facing life sciences companies grappling with whistleblower-initiated government investigations, say Joshua Levy and Sean Seelinger of Ropes & Gray LLP.
A recent survey of more than 1,000 chief legal officers found that 87 percent of in-house counsel indicated ethics and compliance as one of the leading issues keeping them up at night. Government and regulatory changes followed as a top concern now and in the year ahead. This is not because companies intend on breaking laws — but because the laws vary, make compliance a challenge, says James Merklinger, vice president and general counsel of the Association of Corporate Counsel.
Despite recent efforts, shortcomings in the nation’s trade secret strategy continue to stand out. The absence of a federal civil trade secret statute has allowed for the inconsistent application of protections crucial to American business. The Uniform Trade Secrets Act is at best a partial fix, says David Almeling of O’Melveny & Myers LLP.