Attorney General Jeff Sessions fired former FBI Deputy Director Andrew McCabe late Friday night, roughly a day before McCabe was set to retire, because he said an internal report found the longtime Trump target made an unauthorized disclosure to the news media and lacked candor under oath multiple times.
A Massachusetts federal judge denied bids by two alleged former promoters of TelexFree LLC to escape a U.S. Securities and Exchange Commission lawsuit on Friday, saying the government had identified specific statements both had made to members of the state’s Dominican community urging them to invest in a company authorities have called a $340 million pyramid scheme.
A northern Virginia church member who admitted to helping her pastor and his wife run what federal prosecutors have alleged was an investment fraud disguised as an empowering, internationally oriented microlending firm was sentenced Friday in Alexandria federal court to serve 30 months in prison.
The owner of a company that helps employers provide legal services for their employees was charged with wire fraud in Pennsylvania federal court Friday for allegedly falsifying the company’s financial health to coax a $30 million line of credit out of potential lenders.
New York Gov. Andrew Cuomo’s former aide Joseph Percoco took a blow recently in one of the first trials to produce a bribery conviction post-McDonnell, but its impact on public corruption cases will depend on whether such jury verdicts can pass muster before more discerning appeals courts.
A Wilmington Trust Corp. backlog of unacknowledged, past due commercial loans included 142 debts worth $177.3 million that were six months to three-and-a-half years past due when 2009 ended, a witness said Friday during a Delaware fraud and securities trial for four bank executives.
Five New York doctors prescribed a potent painkiller sold by Insys Therapeutics Inc. in exchange for money and lavish kickbacks, including lap dances and liquor that two of the doctors accepted, the U.S. Department of Justice said in a felony indictment unsealed Friday.
The IRS is pushing back against the $3.6 million clawback suit brought by the bankruptcy trustee of doomed Ponzi vehicle DBSI Inc., telling an Idaho federal court the tax agency is merely a “conduit,” no different from a bank, and therefore immune to this type of avoidance action.
A jailhouse-rape suit lodged against Reza Zarrab, the famed Turkish-Iranian trader who admitted to participating in a sanctions-evasion scheme benefiting the Iranian government, is fiction, Zarrab's lawyer said Friday.
The rare reversal of a Kentucky heart doctor’s fraud conviction and prosecutors’ appeal highlights the way the U.S. Department of Justice is using experts to dispute the necessity of health care procedures and could add another answer to when a medical outlier can be distinguished from a fraud.
The Third Circuit on Friday declined to overturn a plastic surgeon's three-year prison sentence and $96,000 fine for tax evasion — and was unswayed by his argument that the trial court erred in excluding evidence that he eventually paid the tax.
A federal judge on Friday appointed a special master to keep a watchful eye on Aegerion Pharmaceuticals Inc. as it faces court-ordered audits and the payment of $36 million to patients who were unnecessarily prescribed its expensive cholesterol drug and to government health programs that footed the bill.
The Ninth Circuit on Thursday affirmed six jury convictions against a former U.S. Customs and Border Protection official for his participation in a scheme to pay bribes to government employees to obtain green cards and other benefits for immigrants, saying questions about his past were fair game.
A group of investment funds seeking to hold Merrill Lynch, Deutsche Bank and Credit Suisse responsible for losses stemming from the infamous 2001 collapse of Enron Corp. have urged a New York federal judge to let their 15-year-old case proceed to trial, battling back against the banks’ latest efforts to slip the suit.
A purported California entrepreneur has admitted to bilking investors out of $6.8 million by falsely claiming that three different companies he controlled were developing technology that could dramatically increase gas mileage for any car, working on anti-counterfeiting technology and coming up with a method to convert used tires into oil.
A Chicago alderman accused of accepting bribes asked an Illinois federal judge to dismiss some of the charges Friday, arguing that the government’s witnesses have not established the payments were bribes or extortion.
Prosecutors on Thursday blasted the defense argument that a recent Second Circuit opinion dealing with a convicted sex offender supports a former public official's claims that she did not violate residents' civil rights to travel freely by allegedly causing gridlock near the George Washington Bridge in a political revenge scheme.
A New York federal judge Tuesday sent a $50 million Racketeer Influenced and Corrupt Organizations Act case against three reinsurance executives to arbitration, saying the arbitration clause in the reinsurance agreement applies to them as well as their company.
Texas metals firm Elemetal LLC has pled guilty to having an inadequate anti-money laundering program and has agreed to pay $15 million and to stop buying precious metals overseas, the company and Florida federal prosecutors said Friday.
The CEO of a company that made smartphones supposedly impervious to decryption was indicted Thursday and accused of helping drug traffickers escape detection, marking the first time the U.S. says it has pursued a business accused of intentionally providing tech tools to foil law enforcement.
Regulators have recently increased their efforts in cracking down on spoofing, yielding an increasing number of criminal indictments and civil settlements. However, an important challenge in identifying spoofing is separating legitimate calculations from those that were intended to manipulate the market, say Ilan Guedj and An Wang of Bates White LLC.
Although much attention has been paid to the U.S. Securities and Exchange Commission’s actions in the initial coin offering space, little thought has been given to the applicability of New York’s own securities fraud statute. That could be a serious oversight, says Daniel Alter of Murphy & McGonigle PC.
The reasonableness of an extrapolated loss calculation was a significant sentencing issue in U.S. v. Melgen last month in the Southern District of Florida. The court found flaws in both the government's and defendant’s analyses, and then calculated its own loss figures, say Jennifer Dowdell Armstrong of McDonald Hopkins LLC and Chris Haney of Forensus Group LLC.
Under the U.S. Department of Justice's new marijuana enforcement strategy, the DOJ is unlikely to begin prosecuting marijuana growers and distributors who are operating in compliance with state law. The DOJ will likely prosecute the most egregious violators of state law, say Gerald Sachs and Evan Shea of Venable LLP.
There's no reason for limiting unbundled legal services to family law or even pro se litigants. Wider adoption, especially by litigators, presents an opportunity to correct law's distribution and pricing problem, to make justice practically available to all, and to dethrone litigation as the "sport of kings," says New York-based trial lawyer David Wallace.
Coordinated federal initiatives scrutinizing cryptocurrency exchanges may be viewed as alarming by entrepreneurs and their advisers. But we believe such concerns are largely misguided, say John Reed Stark, president of John Reed Stark Consulting LLC, and David Fontaine, CEO of Kroll Inc.
Like medical professionals, lawyers often resist policies to reduce errors due to the culture of perfectionism that permeates the industry. Autonomy is key to the legal professional's prestige and the outward demonstration of competence is key to maintaining autonomy, says Peter Norman of Winnieware LLC.
Cryptocurrency exchanges must be prepared for a relentless U.S. regulatory onslaught. That seems to be the clear warning embodied in the confluence of three events last week involving three agencies that are no longer content with generating regulatory headwinds, say John Reed Stark, president of John Reed Stark Consulting LLC, and David Fontaine, CEO of Kroll Inc.
Following the Federal Circuit's decision in Cleveland Assets, any protest filed at the U.S. Court of Federal Claims alleging violation of a statute or regulation that does not obviously qualify as a “procurement statute” may face a jurisdictional challenge, say Stuart Turner and Nathaniel Castellano of Arnold & Porter.
It is undisputed that in his first year in office President Trump was able to confirm a significant number of judges to the federal bench. How it happened — and whether it's a good thing — are debated here by Sen. Chuck Grassley, R-Iowa, and Sen. Dianne Feinstein, D-Calif.