White Collar

March 12, 2013
DC Circ. Denies De Novo Review For Criminal Resentence

The D.C. Circuit on Tuesday rejected a criminal defendant’s bid to force a lower court judge to reconsider his entire previous sentence after the appellate court vacated one count, saying court precedent doesn’t require de novo review of any sentencing factors beyond what was vacated.
March 12, 2013
Stanford Receivers Settle Row Over $300M In Overseas Assets

U.S. and Antiguan receivers in charge of compensating victims of Robert Allen Stanford's $7 billion Ponzi scheme have reached a deal to resolve disputes about jurisdiction over money he deposited overseas, they said Tuesday.
March 12, 2013
Judge Revives $26M Clawback Suit In Mortgage Ponzi Case

A Pennsylvania federal judge Monday overturned a bankruptcy court’s ruling that the trustee of a bankrupt home refinancing company implicated in a $65 million Ponzi scheme could not recover nearly $26 million in transfers made to numerous financial institutions, pitching the case back to bankruptcy court.
March 11, 2013
11th Circ. Demands Jail Time For Doc In $3M Fraud Case

A Georgia chiropractor should get jail time for a $3 million insurance fraud scheme, the Eleventh Circuit ruled Friday, finding that a lower court's sentence of time served was too lenient and would not deter others from committing health care fraud.
March 11, 2013
Ex-Detroit Mayor Convicted In 'Breathtaking' Corruption Case

After three weeks of deliberations, a federal jury on Monday convicted former Detroit Mayor Kwame Kilpatrick of public corruption charges alleging he took kickbacks and bribes to steer city business to certain contractors that could put him behind bars for up to 20 years.
March 11, 2013
3rd Circ. Upholds Le-Nature Exec's 15-Year Sentence

The Third Circuit refused Monday to void the 15-year prison term handed down to a onetime executive at bankrupt beverage bottler Le-Nature’s Inc. for orchestrating a $660 million swindle of banks and investors, finding jurors weren’t prejudiced by a prosecutor’s comment about him not testifying.
March 11, 2013
Stephen Baldwin To Avoid Prison In NY Tax-Dodging Case

Stephen Baldwin will avoid jail by pleading guilty to a single felony count of failure to file a tax return, his lawyer told Law360 on Monday, announcing a deal that comes just over three months after the actor was arrested for skipping three years of returns and racking up $350,000 in tax liability.
March 8, 2013
SEC Nabs 5 In $70M Dell Trading Tips Case

The U.S. Securities and Exchange Commission on Friday won summary judgments against five hedge fund employees who allegedly participated in an insider trading ring that made about $70 million on Dell Inc. and Nvidia Corp. stock, including two who pled guilty to criminal charges over the scheme.
March 8, 2013
Picard Loses Intervention Bid In Fairfield Investor Row

Madoff trustee Irving Picard on Friday lost his bid to intervene in a class action by institutional investors accusing Fairfield Greenwich Group and others of funneling investor funds into Bernard Madoff's Ponzi scheme when a New York federal judge ruled he is already opposing their $80 million settlement in a separate motion.
March 8, 2013
Texas Attorney Admits To Tax Fraud That Cost US $2M

A Texas tax attorney pled guilty Friday to two counts of willfully helping prepare false income tax returns for two clients in a scheme that cost the federal government about $2.2 million.
March 8, 2013
2 More Plead Guilty In $63M Miami Medicare Fraud

The U.S. Department of Justice on Thursday announced two more guilty pleas in a $63 million Medicare and Medicaid fraud case in which a Miami health provider allegedly paid kickbacks in exchange for unnecessary patient referrals, marking 12 total guilty pleas in the case.
March 8, 2013
Ex-GameStop VP Gets 4 Years In Prison For Mail Fraud

A former public relations executive for GameStop Texas LLP was sentenced by a Texas federal judge Thursday to more than four years in prison for embezzling nearly $2 million from the video game retailer.
March 7, 2013
Dallas DA Held In Contempt After Refusing To Testify

A Dallas state judge on Thursday dismissed criminal mortgage fraud charges against Hunt Oil Co. heir Albert Hill III and slapped the Dallas County District Attorney with a contempt order after he refused to testify in a prosecutorial misconduct hearing.
March 7, 2013
Former Italian PM Berlusconi Convicted In Wiretap Case

Former Italian Prime Minister Silvio Berlusconi was reportedly convicted and sentenced to one year in prison Thursday on charges that he caused a wiretapped conversation, recorded during a probe involving a bank takeover attempt, to be illegally published in a newspaper.
March 7, 2013
Contractor Pays $19M For Overbilling US On Nuke Cleanup

CH2M Hill Cos. Ltd. agreed Thursday to pay $19 million to settle charges it allowed hundreds of a subsidiary's employees to overstate the amount of time they spent cleaning up the nuclear site in Hanford, Wash., for the U.S. Department of Energy.
March 7, 2013
Ex-Winston & Strawn Atty Gets Time Served For Starr Fraud

A New York federal judge on Thursday sentenced a former Winston & Strawn LLP partner to time served for his role in helping former money manager for the rich and famous Kenneth Starr launder almost $19 million stolen from clients.
March 6, 2013
SEC Shouldn't Sweat Gabelli, FCPA Attys Say

Last week's U.S. Supreme Court decision limiting the U.S. Securities and Exchange Commission's time to pursue enforcement actions would appear to curtail Foreign Corrupt Practices Act suits, which often drag on for years, but attorneys say the potential impact may not be that large.
March 5, 2013
Contractors Found Guilty Of $1M Naval Base Bribery

A federal jury on Monday convicted the owners of two San Diego defense contractors of lavishing more than $1 million in gifts and bribes on U.S. Navy officials in exchange for fraudulent contracts, prosecutors said.
March 5, 2013
Defendant In High Court GPS Case Again Escapes Conviction

A Washington federal judge on Monday declared a mistrial in a case against a suspected drug dealer whom the government sought to convict by using his cellphone location records after the U.S. Supreme Court threw out an earlier conviction in a landmark ruling that rejected the use of warrantless GPS tracking.
March 5, 2013
9th Circ. Upholds Ex-InterMune CEO's Fraud Conviction

The former CEO of InterMune Inc. on Monday failed to persuade the Ninth Circuit to overturn his fraud conviction after the appeals court backed a jury's finding that his press release touting the drug Actimmune as a treatment for a deadly lung illness was intentionally misleading.

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Expert Analysis

EMR Adoption May Be Riskier Than Expected

As has always been the case, with technology comes risk. And for the medical providers who adopt electronic medical records, that risk may include not only a lack of utility or benefit, but also heightened scrutiny, more frequent investigation and even the specter of prosecution by the very government that promoted the switch to EMRs in the first place, says Robert Radick of Morvillo Abramowitz Grand Iason & Anello PC.
A Gambling Case Software Developers Should Watch Closely

The Supreme Court of New York recently conducted a hearing in a criminal case in which a software developer is accused of aiding and abetting illegal gambling. The strength of the district attorney's case remains to be seen, but prosecution of a software developer for crimes committed by its users sets a dangerous precedent and starts the country down a slippery slope of prosecuting people for others' acts, say attorneys with Perkins Coie LLP.
Data Mining: What Financial Services Firms Need To Know

As a general rule, the use of mined data does not violate legal requirements. However, the fast-growing data-mining industry is raising concern among federal regulators and policy makers. A hedge fund or other financial services firm that uses data-mined information should establish controls and surveillance to address potential insider trading, privacy and other risks, say Henry Massey and Megan Tlusty of Day Pitney LLP.
Smith V. US: Impact On Defense Of Conspiracy Charges

In Smith v. U.S., the U.S. Supreme Court recently confronted the difficult question of who is responsible for proving withdrawal from a conspiracy — the government or the accused. The court resolved the issue by placing the burden on the accused, which has significant implications for the defense of conspiracy charges, say Pablo Quinones and Jill Ottenberg of Reed Smith LLP.
E-Waste Case Could Bring Changes To E-Waste Recycling Laws

In the first case of its kind, a jury in Colorado recently found an electronic waste recycling company and two of its executives guilty of illegally exporting e-waste overseas, in addition to other criminal charges. The implications of this case are broad and the convictions could serve as a catalyst for federal regulation of e-waste, says Peggy Otum of Arnold & Porter LLP.
Pharma Exec Criminal Convictions And HHS Program Bans

For pharmaceutical executives facing criminal charges, the elephant in the room is the risk that a conviction will result in mandatory exclusion from participation in federal health care programs. A California federal court's decision in the ex-InterMune Inc. CEO case has the potential to refine the rules governing orders of exclusion, a collateral consequence that may be more severe than the sentence itself for a convicted pharmaceutical executive, say Michele Adelman and Dan McFadden of Foley Hoag LLP.
Insider Trading In 2012: Back To The Future — Part 2

The special agents supervising the FBI’s N.Y.-based securities and commodities fraud squads have predicted five more years of intense insider trading prosecutions, noting that there are approximately 240 individuals under investigation. Four years from now will mark the 20th anniversary of O’Hagan, and perhaps the time for the high court to take a closer look at what prosecutors and the U.S. Securities and Exchange Commission have been up to — if not sooner, say Tim Coleman and Jonathan Ware of Freshfields Bruckhaus Deringer.
Insider Trading In 2012: Back To The Future — Part 1

2012 was a banner year for prosecution of insider trading. The themes and theories arising in recent cases, however, are a reprise of the 1980s. In particular, defendants in the Southern District of New York are battling what it means to trade “on the basis of” material nonpublic information, and how to shape the complex overlap between the concepts of materiality and nonpublic information, say Tim Coleman and Jonathan Ware of Freshfields Bruckhaus Deringer.
Tone At The Top: More Than Just Jargon

The resource guide to the Foreign Corrupt Practices Act notes that compliance must start at the top. Setting the right tone has the potential to prevent ethical violations — thereby eliminating the need for enforcement actions — and the potential to mitigate any enforcement actions should they occur. Companies must understand the board of directors’ role in creating a culture of compliance and how corporate leadership can communicate its message effectively, say HL Rogers and Kristin Knapp of Sidley Austin LLP.
3 Tips For Limiting Liability In The Digital Age

Every day, we see reports about new government securities cases, price-fixing cases, RICO cases and discrimination cases, not to mention those pesky private lawsuits with punitive and treble damages. Invariably, they have one thing in common: incriminating evidence found in electronic communications. Three rules that can help you and your company stay out of trouble are so simple that even a fourth-grader can follow them — though apparently not some four-star generals, say attorneys with Duane Morris LLP.

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