Feds Drop Fraud Case Against PE CEO Benjamin Wey

Law360, New York (August 8, 2017, 6:22 PM EDT) -- Federal prosecutors dropped their criminal securities fraud and money laundering case against private equity CEO Benjamin Wey on Tuesday, acknowledging the prosecution was doomed after all the evidence seized in searches of Wey’s home and office was suppressed.

Benjamin Wey, right, and his attorney David Siegal of Haynes and Boone LLP. Assistant U.S. Attorney Brooke E. Cucinella filed a notice Tuesday afternoon it was dropping the charges, less than a week after telling U.S. District Judge Alison Nathan that the government would abandon the prosecution if higher-ups decided against appealing the judge’s June ruling that FBI agents appear to have disregarded constitutional...

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