The former director of London-based insurer PWS International Ltd. was sentenced Tuesday to 21 months in prison for paying about $2 million in bribes to win reinsurance contracts in Costa Rica.
British pharmaceutical giant GlaxoSmithKline PLC has agreed to pay $750 million — $96 million of which will go to a whistleblower — to resolve criminal and civil complaints alleging the company mixed up medications and manufactured defective drugs for years at its now-shuttered Puerto Rico factory.
A federal judge has sentenced a contrite John Mills, the former CEO of Affiliated Foods Southwest Inc., to 41 months in prison and ordered him to make more than $3.1 million in restitution for a check-kiting fraud that victimized U.S. Bank NA and other lenders.
Prosecutors accused by alleged Ponzi schemer Robert Allen Stanford of violating his civil rights by cooperating with their U.S. Securities and Exchange Commission counterparts in building a case against him have struck back, calling the information sharing a benign and court-mandated process.
The federal government has agreed to pay about $622,000 to a Vermont doctor acquitted of charges that he manipulated $2 million in research grants at a Dartmouth College-affiliated U.S. Department of Veterans Affairs hospital for his own gain.
Bank of America NA has lodged a suit against infamous money manager Kenneth Ira Starr — who pled guilty in September to a $59 million fraud scheme — over an unpaid $500,000 loan.
White collar attorneys are accustomed to getting calls from clients suddenly in hot water with a government regulator. But these days their phones are ringing off the hook from those who aren't in trouble — yet.
Surprisingly, the widely expected indictments in the financial sector stemming from the market disruptions in 2008 have not yet occurred. But if history is a guide, there was a similar “lag” in indictments after the more contained savings and loan crisis in the late 1980s, says Vincent J. Connelly, co-leader of Mayer Brown LLP's white collar defense and compliance group.
A judge has dismissed a motion by Texas financier Robert Allen Stanford, imprisoned since June 2009 for an alleged $8 billion Ponzi scheme, to release him pending trial for violations of the Speedy Trial Act, saying Stanford himself was responsible for most of the delay.
A last-ditch attempt by Western Titanium Inc. to throw out some of the criminal supply fraud charges against it over fighter jet and spacecraft materials drew a harsh rebuke from prosecutors as the case headed to trial Monday.
Lawyers for former WG Trading Co. executive Stephen Walsh told a judge Monday that because of difficulties in obtaining funds for legal work, they need at least a year to prepare for a trial in a criminal case over an alleged $554 million investment fraud.
The federal government is seeking the forfeiture of more than $495,000, about three dozen pieces of precious jewelry, several cars and a posh luggage set in relation to an investigation into Petro America Corp., a Kansas City, Kan.-based oil company that prosecutors say may be a fraud at nearly every level.
Government prosecutors have shot back at a motion from a former principal of Mutual Benefits Corp. accused of orchestrating an $837 million insurance scam to sever his case from his former lawyer’s so the attorney can testify on his behalf.
Negotiating a global settlement when the U.S. Department of Justice, the Securities and Exchange Commission and other authorities all want a piece of your client can be a herculean struggle given the conflicting priorities, goals and personalities of the wolves at the door. But there are steps lawyers can take to help their clients lay the groundwork for reaching a deal with everyone, according to experts who spoke with Law360.
Federal prosecutors are opposing an immunity bid for a Malaysian man to travel to the U.S. to testify for a colleague charged with leading a conspiracy to illegally export military hardware, arguing that only the U.S. Department of Justice — not a judge — can grant the request.
A federal judge has refused to preclude the criminal forfeiture of a number of bank accounts, stocks and Krugerrands belonging to convicted fraudster David Brooks, former CEO of body armor maker DHB Industries Inc., but has reserved judgment on a number of other items.
New York's highest court has ruled against expanding third-party liability in cases in which a corporation's management engaged in financial fraud that was either assisted or missed by outside advisers, shutting down arguments brought by creditors of the now-defunct commodities trading firm Refco Inc. and shareholders of American International Group Inc.
There needs to be a legislative change or a new policy to ensure that criminal defendants can obtain counsel without the legal fees being seized by the government, says Marty Steinberg, co-chair of Hunton & Williams LLP's commercial litigation practice group.
U.S. prosecutors are seeking to dismiss a criminal tax evasion case against UBS AG more than a year after the Zurich-based bank agreed to pay a fine of $780 million and hand over information on clients suspected of skipping out on paying taxes.
Accused $8 billion Ponzi schemer Robert Allen Stanford has fallen far short of proving that ceaseless media coverage has hopelessly biased a Houston jury pool against him, government prosecutors have said.