White Collar

  • November 15, 2019

    Trump And House Dems Seek End To Suit Over Subpoena

    President Donald Trump and House Democrats are urging a D.C. federal judge to toss a lawsuit brought against them by a former White House national security aide who is navigating the competing demands of a congressional subpoena and presidential instructions not to testify before Congress.

  • November 15, 2019

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen Libya's sovereign wealth fund sue Credit Suisse amid a long-running bribery battle, retailer Sports Direct take on its former accountant Grant Thornton, and a host of underwriters file claims against a shipowner and its bank a month after winning a case over a fake pirate attack. Here, Law360 looks at those and other new claims in the U.K.

  • November 15, 2019

    Jury Convicts Trump Ally Roger Stone On All Counts

    A D.C. federal jury found former Trump campaign adviser Roger Stone guilty Friday of all seven felony charges of lying to Congress about his connections with WikiLeaks, witness tampering and obstructing a congressional committee's probe into Russian interference in the 2016 U.S. presidential election.

  • November 14, 2019

    Mass. SIM Swappers Arrested For Up To $550K Crypto Theft

    The U.S. Department of Justice announced Thursday the arrest of two Massachusetts-based men who were indicted on various counts after engaging in the act of "SIM swapping" and stealing or intending to steal cryptocurrency valued up to $550,000.

  • November 14, 2019

    Mozambique Maritime Deals Were Legit, Boustani Jury Hears

    Attorneys for Privinvest Group executive Jean Boustani on Thursday sought to cast a different light on maritime projects in Mozambique that prosecutors say were at the center of a $2 billion fraud and kickback scheme, eliciting testimony from insiders at the Abu Dhabi-based shipbuilder who told jurors the projects were aboveboard.

  • November 14, 2019

    Liebowitz's Attorney Pleads For Leniency Over Lies To Judge

    Weeks after a federal judge threatened to imprison lawyer Richard Liebowitz for lying about the death of his grandfather, a criminal defense attorney and family friend sent the judge a letter begging her to forgive the embattled copyright litigator for his “inexcusable falsity.”

  • November 14, 2019

    Health Care Ad Co. Ex-Executive Faces Fraud Claims

    A former health care advertising company executive faces parallel criminal charges and civil claims over a multi-pronged advertising fraud scheme targeting the company’s clients, federal prosecutors and regulators said Thursday.

  • November 14, 2019

    Facebook Says Gov't Demands For User Data At All-Time High

    Facebook said Wednesday that it received more requests from governments around the world for access to user data in the first half of 2019 than ever before, and insisted that it continues to push back on overbroad demands and doesn't provide officials with "back doors" to encrypted data. 

  • November 14, 2019

    Stone Jury Asks If WikiLeaks Contact Claim Is Testimony

    A D.C. federal jury deciding the fate of former Trump campaign adviser Roger Stone ended its first day of deliberations Thursday with two written questions, including one appearing to indicate that jurors are wrestling over whether the longtime Republican operative lied that a liberal talk show host was his intermediary with WikiLeaks.

  • November 14, 2019

    Atlanta Atty, Ex-Investment Cos. GC Cops To $40M Fraud

    An Atlanta-based attorney who served as general counsel to several Georgia companies that bought life insurance policies and subprime vehicle loans has pled guilty in federal court to conspiring to defraud investors of more than $40 million, prosecutors have announced.

  • November 14, 2019

    Gov't Tells Jury Ex-Nuke Exec's Role In Kickbacks Is Clear

    The former president of a nuclear logistics company accused of fraudulently securing transportation contracts from a Russian uranium supplier deliberately participated in a kickback scheme, and there's plenty of evidence to prove it, prosecutors told a Maryland federal jury Thursday.

  • November 14, 2019

    Bipartisan Bill Would Curb Gov't Use Of Facial Recognition

    Two U.S. senators introduced a bipartisan bill on Thursday that would require federal law enforcement to get a warrant to track people using facial recognition technology for longer than 72 hours, the latest bid to scale back the use of a largely unregulated technology.

  • November 14, 2019

    KPMG's Cut Corners Cost School $7.4M, Jury Told In Closings

    An attorney for Merrimack College told a Massachusetts jury during closing arguments Thursday that a former employee’s student loan fraud would have been stopped years earlier if KPMG auditors had done financial testing they were supposed to do, while KPMG’s counsel said the college had only itself to blame.

  • November 14, 2019

    Two Chinese Ex-Herbalife Execs Charged With Bribery

    Two former executives at health supplement company Herbalife’s Chinese subsidiary have been charged in a plot to bribe officials in return for business licenses and other advantages, federal prosecutors announced Thursday.

  • November 14, 2019

    Mass. Cannabis Industry Welcomes Feds' Regulatory Probe

    Cannabis lawyers applauded news last week that the Boston U.S. attorney's office is investigating potential public corruption in the cannabis sector, saying they hope it will rein in what they see as emerging pay-to-play schemes and a regulatory climate that a state cannabis oversight official called "ripe for corruption."

  • November 14, 2019

    Geragos-Tied Charges Gone In Avenatti's Nike Extortion Case

    Federal prosecutors in Manhattan on Wednesday dropped charges against Michael Avenatti that accused him of conspiring with fellow celebrity lawyer Mark Geragos in a plot to extort Nike, but added an accusation that Avenatti defrauded his client along the way.

  • November 14, 2019

    Mexican State Beats Free Speech Defense In $100M Theft Suit

    The Mexican state of Veracruz can continue pursuing claims against a couple it says pilfered $100 million from government coffers, a Texas appellate court ruled on Thursday, denying the couple's bid to use a Texas free speech law to end the suit.

  • November 14, 2019

    Sater Can't Ax Money Laundering Suit, Kazakh City Says

    The city of Almaty, Kazakhstan, and one of the country’s banks are urging a New York federal court not to dismiss their suit accusing Felix Sater and others of helping to launder about $440 million.

  • November 14, 2019

    Trump 'Absolutely Immune' From NY Tax Probe, Justices Told

    President Donald Trump asked the U.S. Supreme Court on Thursday to find that he has “absolute immunity” from criminal investigations while president and to block the Manhattan district attorney's subpoena of tax and financial records from his accounting firm. 

  • November 14, 2019

    Former Exec At China-Owned Broker-Dealer Cops To ADR Bid Rigging

    Federal prosecutors said Thursday that a former vice president of Industrial and Commercial Bank of China Financial Services LLC has admitted his involvement in a conspiracy to rig bids for borrowed pre-release American depositary receipts.

  • November 14, 2019

    Ex-Deutsche Trader To Pay $500K To End DOJ’s RMBS Suit

    The U.S. Department of Justice announced Thursday that a former Deutsche Bank trader will pay $500,000 to settle allegations that he misled investors about the quality of loans underlying two residential mortgage-backed securities in the lead-up to the financial crisis.

  • November 13, 2019

    Ex-StarKist Exec Admits Lying To FBI About Tuna Price-Fixing

    A former StarKist executive testified in a former Bumble Bee CEO's criminal price-fixing trial in California federal court on Wednesday that he initially lied to the FBI and U.S. Department of Justice about anti-competitive agreements he made with Bumble Bee and Chicken of the Sea executives to raise canned tuna prices.

  • November 13, 2019

    Feds Rest In Case Of Alleged $2B Mozambican Loan Fraud

    New York federal prosecutors on Wednesday rested their monthlong case against Privinvest Group executive Jean Boustani, who stands accused of conspiring to defraud investors in $2 billion worth of loans used to finance state-backed maritime projects in Mozambique.

  • November 13, 2019

    DC Circ. Again Denies Trump Bid To Block Records Subpoena

    The House oversight committee can enforce a subpoena seeking eight years’ worth of President Donald Trump's business records, a divided D.C. Circuit said Wednesday, setting up a potential appeal to the U.S. Supreme Court.

  • November 13, 2019

    FIFA Bans Ex-Soccer Boss, Acquitted In US, Over $7M Scheme

    A former official for the South American soccer confederation CONMEBOL who was acquitted on racketeering charges in the U.S. is now banned for life from the sport after international governing body FIFA found him guilty of taking $6.6 million in bribes.

Expert Analysis

  • Expatriation Tax Next On IRS Crypto Enforcement List

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    Two recent moves suggest that the IRS is now publicly and officially on the hunt for U.S. expatriates who failed to pay exit tax on appreciated cryptocurrency assets, say attorneys at Quinn Emanuel.

  • 4 Ways To Address Rising OFAC Cryptocurrency Oversight

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    The Office of Foreign Assets Control has demonstrated its interest in regulating cryptocurrency and may have begun collecting information from over a dozen digital currency exchange platforms, which means those with an interest in utilizing cryptocurrency or participating in an initial coin offering should proceed with caution, say Ryan Rohlfsen and Betsy Varnau at Ropes & Gray.

  • FCPA Lessons On 3rd-Party Risks And Cooperation Credit

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    The Microsoft settlement, along with other recent Foreign Corrupt Practices Act enforcement actions, demonstrates the need to prioritize compliance resources in high-risk jurisdictions if third-party intermediaries are engaged and provides insight into how the U.S. Department of Justice voluntary disclosure policy operates, say attorneys at FaegreBD.

  • Tips For Representing Cos., Employees In Gov't Investigations

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    As government investigations and qui tam litigation continue to focus on allegations of individuals' misconduct, it is imperative to be cognizant of the risks and emerging best practices associated with the legal representation of those employees and their current or former employer, say Holly Drumheller Butler of Miles & Stockbridge and Marc Raspanti of Pietragallo Gordon.

  • Where Law Firm Partners Go When Changing Jobs

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    We reviewed 177 law firm partners' job changes from the last seven years and discovered some migration patterns and gender dynamics, say James Bailey of the George Washington University School of Business and Jane Azzinaro of Cognizant.

  • 3 Ways To Leverage Vulnerability For Lawyer Well-Being

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    Admitting to imperfection is an elusive construct in the legal industry, but addressing this roadblock by capitalizing on vulnerabilities can increase personal and professional power, says life coach and attorney Julie Krolczyk.

  • Preemption Issues High Court Is Considering In I-9 Fraud Case

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    Questions from the bench at last week's U.S. Supreme Court oral argument in Kansas v. Garcia appear to show the court's core understanding of the respondent's argument that a state cannot, by means of identity theft statutes, create its own immigration enforcement process, says Amy Peck at Jackson Lewis.

  • Navigating US-China Trade Amid New Era Of FinCEN

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    Following the launch of the U.S. Financial Crimes Enforcement Network's new Global Investigations Division, FinCEN’s enhanced powers should be on the radar of U.S. and Chinese companies engaging in cross-border transactions, says James Berger at Jia Law Group.

  • RICO Threat Looms Over Cannabis Businesses

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    Recent decisions from the Tenth Circuit and courts in the Ninth Circuit demonstrate that the specter of Racketeer Influenced and Corrupt Organizations Act liability for owners and operators of cannabis-related businesses remains a real danger so long as such facilities remain illegal under federal law, say Gerald Arth and Joshua Horn of Fox Rothschild.

  • New Data Shows BigLaw's True Profitability

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    Based on an analysis adjusting BigLaw operating income and revenue to account for equity partners and taxes, the profitability of firms is lower than commonly thought, says Madhav Srinivasan at Hunton.

  • Mylan Case Shows SEC Stance On Disclosing Investigations

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    The U.S. Securities and Exchange Commission's recently settled action against Mylan — for failing to promptly disclose an investigation into the drugmaker's EpiPen — provides insight for public companies weighing whether and when to disclose government investigations, say attorneys at Cleary Gottlieb.

  • A Close Look At Warren’s Anti-Corruption Plan For Congress

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    Sen. Elizabeth Warren’s anti-corruption legislation proposal would augment the Office of Congressional Ethics and lead to greater accountability and transparency in Congress but misses a key issue — it does not delineate responsibilities to investigate between the OCE and the House and Senate Ethics Committees, says Nate Wright of Vedder Price.

  • Why Trump's Orders On Agency Guidance Are Significant

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    ​Two recent executive orders ​​on the use of guidance documents by federal agencies​ represent a major change for virtually every executive agency ​and a historic assertion of the president’s authority under Article II to oversee the independent regulatory agencies, says Paul Noe, former counselor to the administrator of the White House Office of Information and Regulatory Affairs.

  • US-UK Agreement Expands DOJ Access To Tech Data

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    The new U.S.-U.K. CLOUD Act agreement — which allows each country to demand electronic data directly from tech companies located in the other country — highlights the U.S. Department of Justice’s larger efforts to streamline the process by which the government can obtain evidence located abroad, says Brendan Quigley of Baker Botts.

  • FX Fraud Decision Tests Limits Of Right-To-Control Theory

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    In United States v. Johnson, the Second Circuit’s decision affirming an ex-HSBC foreign exchange trader's wire fraud conviction highlights that the government and courts may not agree on the government's burden to prove tangible economic harm under the so-called right-to-control theory, say attorneys at White & Case.

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