Feds Can't Use FBI Evidence In PE CEO Fraud Case

Law360, New York (June 14, 2017, 3:52 PM EDT) -- The government’s money laundering and securities fraud case against private equity CEO Benjamin Wey suffered a significant setback Tuesday after a New York federal judge suppressed the evidence from searches of his office and home, saying the agents who conducted the searches appear to have disregarded constitutional principles.

U.S. District Judge Alison J. Nathan said in her decision that warrants proposed by FBI agents were “plainly lacking” when it came to meeting the Fourth Amendment’s particularity requirement and that the scope of the warrants “grossly exceeded” the probable cause showing made to the magistrate judge.

Judge Nathan wrote that the agents...

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