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TOP NEWS National Enquirer Co. Admits Covering Up Trump Affair Story
American Media Inc., which publishes the National Enquirer, has admitted to paying a woman $150,000 in order to help President Donald Trump hide his alleged affairs and bolster his chances of being elected president, federal prosecutors revealed on Wednesday.
Cohen Gets 3 Years For Russia Lies, Paying Trump Women
A Manhattan federal judge sentenced Michael Cohen, President Donald Trump's former lawyer, to three years in prison Wednesday for a “smorgasbord” of crimes, including paying off two women who said they had affairs with the president, lying to Congress about Russia, and dodging taxes on $4.1 million of income.
Key Witness In Embraer Case Avoids Prison For Saudi Bribe
A Manhattan federal judge on Wednesday allowed a 62-year-old former Embraer SA executive to avoid prison for paying a fat bribe to improve a jet-purchase deal with oil giant Saudi Aramco, but fined him $25,000 for failing to immediately disclose a $130,000 kickback he took in the bargain.
Ex-Biotech Exec Avoids Prison For Lying To SEC
A California biotech entrepreneur avoided jail time Wednesday for lying to the U.S. Securities and Exchange Commission, receiving five months' home confinement and up to five years' probation from a Massachusetts federal judge on a conviction stemming from a pump-and-dump scheme.
Algerian Jail Was Enough For Swiss Banker, Judge Rules
A Swiss financial services worker who was nabbed in Algeria on U.S. fraud charges and spent a year in a packed and filthy jail while awaiting extradition was sentenced to no additional prison time by a Manhattan federal judge on Wednesday.
MVP: Dechert's Andrew J. Levander
Andrew J. Levander of Dechert LLP represented Robert Diamond, the former chairman of Barclays, successfully defending him from a class action over the bank’s dark pool trading operations, among other matters, once again earning him a spot as one of Law360’s White Collar MVPs.
DOJ Urges Prison For Convicted Wilmington Trust Execs
Federal prosecutors in Delaware recommended prison terms between five and eight years for four convicted Wilmington Trust Corp. executives at the center of a more than $200 million years-long cover-up of bad commercial loans, saying the deception led to huge investor losses and tarnishing of trust in financial industry safeguards.
AriseBank Execs Settle SEC's ICO Scam Claims For $2.7M
Two top executives of the now-shuttered AriseBank have agreed to pay a combined $2.7 million to settle claims by the U.S. Securities and Exchange Commission that the cryptobank fraudulently raised money in an unregistered initial coin offering, the regulator told a Texas federal court on Tuesday.
Man Admits Posing As SEC Officer To Collect Bogus Fees
A Pennsylvania man charged with shaking down investors by pretending to be a U.S. Securities and Exchange Commission officer pled guilty Tuesday in Massachusetts federal court to two conspiracy counts.
FCA Vows To Retry UBS Insider Dealing Case After Hung Jury
A London jury failed to reach a verdict Wednesday in the trial of a former UBS AG compliance officer and her day-trader friend accused of making £1.4 million ($1.76 million) by trading on inside information on potential takeover deals, in a case the British financial watchdog quickly said it planned to retry.
Fundraiser Gets Prison For Role In Ex-Congressman's Scam
A former fundraising specialist for now-imprisoned former U.S. Rep. Stephen Stockman, R-Texas, was sentenced by a federal judge in Houston on Wednesday to 18 months in prison for his role in a scam where funds solicited as charitable contributions were instead used to finance political campaigns and cover personal expenses.
FDA Boss Vows Crackdown On Stem Cell, Supplement Cos.
The U.S. Food and Drug Administration’s leader on Wednesday said that tougher enforcement is coming in early 2019 for bogus claims or shoddy manufacturing involving stem cell therapies, dietary supplements and compounded drugs.
Mass. US Atty Sees No Issue With ICE Courthouse Arrests
Massachusetts’ top federal prosecutor said Wednesday that U.S. Immigration and Customs Enforcement agents have a right to make arrests at courthouses, weighing in on the matter after a Boston-area judge was accused of helping an undocumented immigrant escape ICE custody last week.
Feds Call For CPA To Be Imprisoned For Role In $18M Fraud
Federal prosecutors urged a California district court to reject an accountant’s plea for leniency following his guilty conviction in a client’s $18.2 million fraud, calling instead for a “significant” prison sentence on Wednesday to deter other tax return preparers.
Yakama Nation Wants Block On Wash. County Prosecutions
The Confederated Tribes and Bands of the Yakama Nation has urged a federal judge to bar a Washington county from arresting tribe members for alleged crimes in an area the tribe claims is still part of its reservation and no longer subject to state or county jurisdiction.
MoFo Nabs Former OFAC Sanctions Official In DC
Morrison & Foerster LLP has lured another attorney away from the U.S. Treasury Department’s Office of Foreign Assets Control, bolstering its national security practice in Washington, D.C., with his experience helping formulate sanctions policy, according to a Tuesday announcement.
Whistleblowers May Spur More Gov't Contract Antitrust Cases
The U.S. Department of Justice's $236 million settlement last month with three South Korean companies was the largest ever for anti-competitive conduct against the U.S. government. A whistleblower’s role as the catalyst for that bid-rigging investigation may be a sign of things to come, say David Caputo and Zachary Arbitman of Youman & Caputo LLC.
Few Taxpayers Should Use New Offshore Disclosure Protocol
Last month, the IRS updated its voluntary disclosure practices. For taxpayers without criminal exposure, the updated protocol can provide the optimal route for an offshore disclosure, but more palatable options likely exist for the significant majority of noncompliant taxpayers, says Patrick McCormick of Drucker & Scaccetti.
Inside Key ABA Guidance On Attorneys' Cybersecurity Duties
A recent opinion from the American Bar Association provides useful guidance on attorneys’ obligations to guard against cyberattacks, protect electronic client information and respond if an attack occurs, says Joshua Bevitz of Newmeyer & Dillion LLP.
10 Tips For Law Firms To Drive Revenue Via Sports Tickets
Many law firms have tickets or luxury suites at sporting events to host clients and prospects. Matthew Prinn of RFP Advisory Group and Matt Ansis of TicketManager discuss some of the ways that firms can use those tickets effectively.
The 6 Law Firms Clients Say Provide The Most Value
Six law firms have been recognized by in-house counsel as the best of the best at providing value for their dollar in a new report released Wednesday. In-House Attys Name Best Firms For Client Service
Corporate clients have named the 30 law firms they think provide the best client service in the industry, and three law firms are on that list for the 18th year in a row, according to a report released Wednesday. Ex-Judges Urge ICE Not To Detain Immigrants In Courthouses
U.S. Immigration and Customs Enforcement should refrain from making arrests or conducting other enforcement activities at the nation’s courthouses, 68 former state and federal judges argued Wednesday in a letter to the federal agency. NY Judge Resigns After Allegations Of Homophobic Remarks
An upstate New York judge has resigned following an ethics complaint that claimed he made homophobic remarks to a local attorney, allegedly using "gay" as a derogatory term when referring to a film festival and suggesting that the attorney and film star Viggo Mortensen should "get a hotel room." Texas Law School Walks Back Student's Exam Ban
The University of North Texas at Dallas College of Law on Wednesday agreed to let a first-year student back on campus to take his final exams despite a suspension over alleged threats he made, after the student filed suit in Texas state court. Law Firm Leaders: Frankfurt Kurnit's Jeffrey Greenbaum
Frankfurt Kurnit Klein & Selz PC managing partner Jeffrey Greenbaum spoke to Law360 about the challenges and advantages of operating as a midsize firm, why firm culture is paramount to success and why the firm takes a contrarian view when it comes to law firm growth.
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