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White Collar
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May 09, 2024
7 Fla. Men Indicted In Nationwide Skimming Device Operation
Seven Florida men have been indicted in Virginia federal court on racketeering conspiracy charges in connection to a decadelong operation to clone credit cards that involved placing skimming devices on gas pumps throughout the country, U.S. prosecutors said.
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May 09, 2024
Chinese Tycoon In $500M Debt To Investors To Be Released
A Chinese cinema magnate who owes his investors more than $500 million will no longer be detained on immigration and campaign donor fraud charges, a New York federal court ruled Thursday.
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May 09, 2024
Lawmakers Say Shell, Eni, Nigeria Deals Need Second Look
Two Democratic lawmakers urged the U.S. Department of Justice to reopen a foreign bribery case into an alleged $1.1 billion scheme in Nigeria perpetrated by oil giants Shell and Eni, saying a possible settlement in a related investor-state case could mean more corrupt deals are on the horizon.
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May 09, 2024
Efforts To Enact Savanna's Act Falling Short, Lawmakers Say
Two U.S. senators behind a law aimed at reforming law enforcement protocols to address the crisis of missing and murdered Native American women are pressing the U.S. Department of Justice to step up its efforts to finalize its implementation.
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May 09, 2024
Policies Bar Origis Investor Suit Coverage, Del. Judge Finds
A Delaware Superior Court judge dismissed most insurers from a renewable energy company and its now-former CEO's action seeking coverage for an underlying investor suit over devalued shares, saying Thursday that a "no action" clause in one set of policies and a prior acts exclusion in another preclude coverage.
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May 09, 2024
Musk Fights Latest Subpoena Over $44B Twitter Purchase
Elon Musk's counsel urged a California federal judge on Thursday to undo a magistrate judge's decision requiring the businessman to testify again before the U.S. Securities and Exchange Commission about his $44 billion purchase of the social media platform formerly known as Twitter, calling the subpoena overbroad and unconstitutional.
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May 09, 2024
Biz Owner Admits Hiding $3.4M In Income To Dodge Taxes
A San Francisco Bay Area man has pled guilty to tax evasion in California federal court, admitting he dodged some of the income tax he owed over a four-year period by concealing more than $3.4 million he earned from his businesses.
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May 09, 2024
Judge Halts DEA's Hearing On Proposed Psychedelics Ban
An administrative law judge with the U.S. Drug Enforcement Administration has ordered the agency to cancel a June 10 hearing on its proposal to ban two psychedelic substances while a researcher's federal lawsuit challenging the agency's actions plays out in court, according to an order made public Thursday.
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May 09, 2024
Binance Fined $4.4M By Canadian Regulator
Canada's anti-money laundering watchdog levied a 6 million Canadian dollars ($4.38 million) fine against crypto exchange Binance after the firm allegedly failed to register as a money services business and didn't report thousands of large transactions on its platform.
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May 09, 2024
Ex-Dental Device CEO Cops To $10.7M Investor Fraud
The former CEO of a dental device company pled guilty Thursday to defrauding investors out of $10.7 million with false claims that his company received the U.S. Food and Drug Administration's approval for a device he promised would take the place of X-rays.
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May 09, 2024
9th Circ. Says Judge Defied Order To Revive Opioid Case
The Ninth Circuit on Thursday again revived a nearly 7-year-old case against a California doctor for allegedly selling opioid prescriptions and ordered that the case be reassigned, saying the presiding judge had defied the plain language of a previous order to reinstate the indictment.
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May 09, 2024
Sen. Menendez's 2nd Bribery Trial: All You Need To Know
In the wake of a 2017 mistrial on bribery charges, U.S. Sen. Robert Menendez reaffirmed his dedication to public service and vowed never to stop fighting for the people of New Jersey.
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May 09, 2024
A Senator's Path From NJ Politics To Corruption Charges
U.S. Sen. Robert Menendez, the son of Cuban immigrants who climbed the political ladder from the ranks of a New Jersey school board to ultimately become chairman of the Senate Foreign Relations Committee, is defending his reputation and career against federal corruption charges for the second time in less than a decade.
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May 09, 2024
Plumbing Co. Owner Cops To Tax Scheme Tied To Gold Bars
The co-owner of a Boston plumbing supply company pled guilty Thursday to underreporting his business and personal income, after prosecutors said he plowed some of the unreported receipts into $10 million worth of gold and silver bars.
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May 09, 2024
Ex-Exec Should Get 78 Months For $5M Theft, Gov't Says
Prosecutors on Wednesday asked that a Georgia federal judge sentence a former Facebook and Nike diversity executive who stole more than $5 million from the companies to 78 months in prison and order her to pay $5.1 million in restitution.
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May 09, 2024
Coverage Recap: Day 10 Of Trump's NY Hush Money Trial
Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments to porn star Stormy Daniels ahead of the 2016 election. Here's a recap from day 10.
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May 09, 2024
Mich. AG Charges Pro-Trump Atty With Election Tampering
A Michigan attorney is facing new criminal charges related to efforts to uncover fraud in the 2020 presidential election, as the state's attorney general accused her of handing over nonpublic voter data to an unauthorized person.
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May 09, 2024
Congress Wants Wade To Testify About Fani Willis Romance
A congressional committee on Thursday asked Nathan Wade, a former special prosecutor in the Georgia election interference case, to testify behind closed doors about his romantic relationship with Fulton County District Attorney Fani Willis as part of its investigation into her motives for prosecuting former President Donald Trump and his allies.
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May 09, 2024
Ex-Celtic 'Big Baby' Gets 40 Mos. In Health Fraud Case
Former Boston Celtics forward Glen "Big Baby" Davis was sentenced to 40 months in prison Thursday after being convicted for his role in a scheme to submit fraudulent invoices to an NBA healthcare plan.
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May 09, 2024
Trump SPAC Investor Convicted Of Insider Trading
A Manhattan federal jury on Thursday convicted a Florida investment pro of securities fraud and conspiracy for allegedly exploiting confidential plans to take Donald Trump's media company Truth Social public in a $23 million insider trading case.
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May 09, 2024
Ex-Pharma Exec Asks 1st Circ. To DQ Judge In Contempt Case
U.S. District Judge Mark Wolf cannot be impartial and must be disqualified from presiding over a criminal contempt trial against a former pharmaceutical executive accused of using an alias to flout a civil judgment, the defendant told the First Circuit in a Wednesday filing.
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May 09, 2024
Justices Uphold Civil Forfeiture Standards Amid Abuse Fears
The U.S. Supreme Court ruled Thursday that people whose property is seized during criminal investigations of others aren't entitled to a quicker process to seek its return, even though a majority of justices expressed concerns about the constitutionality of civil forfeiture systems in general.
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May 08, 2024
Committing Bribery Or Fixing 'Chaos': Mogul's Retrial Begins
An insurance mogul and his one-time political consultant resorted to "pure and simple" bribery when they promised North Carolina's insurance commissioner up to $2 million in campaign contributions to remove an inquisitive official, federal prosecutors told a jury Wednesday, while the mogul's counsel countered that he just wanted a fair shake from a department in "chaos."
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May 08, 2024
Quinn Emanuel Atty Says Asset Freeze Hurt Outcome Defense
The U.S. government's overreach in restraining millions more than it could reasonably trace back to a $1 billion fraud by Outcome Health prevented the company's former CEO from hiring Quinn Emanuel Urquhart & Sullivan LLP attorneys to defend the charges like he originally wanted, an Illinois federal judge heard Wednesday.
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May 08, 2024
Fuel Truck Exec Cops To Rigging Firefighting Contract Bids
An Idaho fuel truck company executive accused of conspiring with others to manipulate bids for U.S. Forest Service firefighting contracts to suppress other competitors in the market over an eight-year period pled guilty Wednesday in federal court, according to the U.S. Department of Justice.
Expert Analysis
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Series
Riding My Peloton Bike Makes Me A Better Lawyer
Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.
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NY Bond, Enforcement Options As Trump Judgment Looms
In light of former President Donald Trump's court filing this week indicating that he can't secure a bond for the New York attorney general's nearly $465 million judgment against him, Neil Pedersen of Pedersen & Sons Surety Bond Agency and Adam Pollock of Pollock Cohen explore New York state judgment enforcement options and the mechanics of securing and collateralizing an appellate bond.
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Compliance Steps After ABA White Collar Crime Conference
Senior law enforcement officials’ statements this month at the American Bar Association's white collar crime conference suggest government enforcement efforts this year will increasingly focus on whistleblower incentives, artificial intelligence and data protection, and companies will need to update their compliance programs accordingly, say attorneys at Baker McKenzie.
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Opinion
Justices' Trump Ballot Ruling May Spark Constitutional Crisis
The U.S. Supreme Court’s recent ruling that former President Donald Trump must be reinstated to Colorado’s primary ballot endorses an unnecessarily broad legal theory of disqualification from federal office, raising constitutional questions that will only become more urgent as the next presidential election nears, says Devon Ombres at the Center for American Progress.
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Investment Advisers Should Prep For Money Laundering Regs
Investment advisers should prepare for a Financial Crimes Enforcement Network proposed rule that would significantly expand anti-money laundering and counter-financing of terrorism obligations by assessing illicit financing risks, and expect examiners to scrutinize unregistered advisers and those with certain foreign clients, say attorneys at Paul Weiss.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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What 2 Years Of Ukraine-Russia Conflict Can Teach Cos.
A few key legal lessons for the global business community since Russia's invasion of Ukraine could help protect global commerce in times of future conflict, including how to respond to disparate trade restrictions and sanctions, navigate war-related contract disputes, and protect against heightened cybersecurity risks, say attorneys at Morgan Lewis.
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3 Litigation Strategies To Combat 'Safetyism'
Amid the rise of safetyism — the idea that every person should be free from the risk of harm or discomfort — among jurors and even judges, defense counsel can mount several tactics from the very start of litigation to counteract these views and blunt the potential for jackpot damages, says Ann Marie Duffy at Hollingsworth.
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CSA Case Could Shift Intrastate Commercial Cannabis
In Canna Provisions v. Merrick Garland, cannabis companies argue that the Controlled Substances Act is unconstitutional as applied to intrastate commercial cannabis activity; the Massachusetts federal court's eventual decision will be important to the cannabis industry for several reasons, including that the threat of federal enforcement would disappear overnight, says Hilary Bricken at Husch Blackwell.
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How AI May Be Used In Fintech Fraud — And Fraud Detection
Recent enforcement actions in the fintech and finance industries show that the government is increasingly pursuing fraud enabled by artificial intelligence — at the same time it’s using AI innovations to enforce regulations and investigate fraud, say attorneys at ArentFox Schiff.
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FARA Enforcement May Soon Be In The Halls Of Higher Ed
Given Congress’ increased attention to rising foreign influence on U.S. college campuses, the U.S. Department of Justice may soon turn the Foreign Agents Registration Act spotlight on educational institutions and groups, which will need to review their possible obligations under the statute, says Tessa Capeloto at Wiley.
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What Recent Study Shows About AI's Promise For Legal Tasks
Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.
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How FinCEN Proposal Expands RE Transaction Obligations
Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.
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When Your Client Insists On Testifying In A Criminal Case
Speculation that former President Donald Trump could take the stand in any of the four criminal cases he faces serves as a reminder for counsel to consider their ethical obligations when a client insists on testifying, including the attorney’s duty of candor to the court and the depth of their discussions with clients, says Marissa Kingman at Fox Rothschild.
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5 Things Trial Attorneys Can Learn From Good Teachers
Jennifer Cuculich at IMS Legal Strategies recounts lessons she learned during her time as a math teacher that can help trial attorneys connect with jurors, from the importance of framing core issues to the incorporation of different learning styles.