White Collar

  • October 21, 2010

    Nadel Gets 14 Years For Ponzi Scheme, Blames Self

    A judge has sentenced admitted Ponzi schemer and former hedge fund manager Arthur G. Nadel to 14 years in prison for crimes associated with his defrauding of hundreds of investors out of as much as $162 million.

  • October 21, 2010

    Ex-DuPont Chemist Gets 14 Months For Secrets Theft

    A federal court has sentenced former DuPont Co. chemist Hong Meng to 14 months in prison for stealing trade secrets related to light-emitting diode technology in violation of an employment pact, a slightly shorter term than the 18 months demanded by prosecutors.

  • October 21, 2010

    US Atty Targets Chicago Pol In Criminal Probe

    Federal prosecutors are investigating the contingency account expense reports of Illinois Cook County Commissioner William Beavers, who reportedly admitted that he has used the $1,200 monthly stipend to boost his income.

  • October 21, 2010

    Former Wood Herron Accountant Charged With Fraud

    A former accounting manager at Wood Herron & Evans LLP has been indicted by a Cincinnati grand jury for taking more than $411,000 from the 140-year-old intellectual property boutique over a 26-month period.

  • October 21, 2010

    US Atty Pledges To Tackle 'Rampant' Insider Trading

    The top federal prosecutor for the Southern District of New York has vowed to continue to aggressively pursue illegal insider trading cases, calling the practice a “rampant” problem that “may even be on the rise.”

  • October 21, 2010

    DOJ Fights To Keep Anklet On Ex-Taylor Bean Chairman

    The life sentence that would await former Taylor Bean & Whitaker Mortgage Corp. Chairman Lee Bentley Farkas if convicted in a nearly $2 billion fraud scheme is sufficient evidence that he’s a flight risk and should continue to be monitored by a GPS anklet, government prosecutors have said.

  • October 21, 2010

    DOJ, US Atty Subpoena GSK Over Avandia, HIV Drugs

    British drugmaker GlaxoSmithKline PLC disclosed Thursday that it was responding to federal subpoenas regarding its diabetes drug Avandia and three HIV products and that Foreign Corrupt Practices Act investigators had asked the company for information about its overseas activities.

  • October 21, 2010

    5-Year Sentence For Convicted Schemer Absurd: Attys

    Attorneys for convicted securities fraudster Laurence Isaacson have ripped a presentence report that recommends their client spend five years in prison for his role in operating a $500 million hedge fund scheme through several shell companies, calling the proposed prison term absurd and suggesting he serve a sentence of six to 12 months instead.

  • October 21, 2010

    Q&A With Dechert's Ned Dodds

    Shortfalls in state and local government revenue streams combined with underfunded government and private pensions will likely lead to an array of bond and pension defaults that seem destined to result in litigation and, possibly, investigations, says William K. Dodds, chairman of Dechert LLP's white collar and securities litigation group.

  • October 20, 2010

    Former Refco CFO Dropped From Securities Action

    Investors alleging Refco Inc. artificially inflated its stock through false statements, nondisclosures and fraudulent conduct prior to a 2005 initial public offering have agreed to drop their claims against the failed brokerage's ex-chief financial officer, who already pled guilty to related criminal charges.

  • October 20, 2010

    Cuomo Seeks $728M From Merkin For Madoff Losses

    New York Attorney General Andrew Cuomo has asked for a $728 million restitution from hedge fund manager Ezra Merkin and his company Gabriel Capital Corp., alleging the defendants funneled money to Bernard Madoff’s Ponzi scheme without disclosing it and profited from investment fees.

  • October 20, 2010

    More Transparency Needed In FCPA Efforts, Group Says

    The Organization for Economic Cooperation and Development praised the U.S. on Wednesday for its increasing efforts to crack down on foreign bribery, but it said regulators and prosecutors should be more transparent about the reasons they use particular kinds of agreements to resolve certain cases.

  • October 20, 2010

    Ex-Deutsche, AIG Exec Stole Banks' Money: US Atty

    A former high-level American International Group Inc. and Deutsche Bank AG executive has been charged with funneling nearly $500,000 of her employers' money to a horse farm she ran with her husband.

  • October 20, 2010

    Stanford Case Could Spark New D&O Strategies

    A court ruling that effectively stripped alleged Ponzi schemer Robert Allen Stanford of insurance coverage for his mounting legal bills may well have been the product of unusual — if not bizarre — circumstances, but its oddities won't necessarily prevent it from being a lodestar for future cases, experts warn.

  • October 20, 2010

    NY Man Gets 10 Years For $10M Subprime Loan Plot

    A New York man who used straw buyers from halfway houses to broker at least $10 million in subprime loans now in default has received a 10-year prison sentence.

  • October 20, 2010

    NYC Gets New Anti-Corruption Unit

    The Manhattan District Attorney's office has restructured its Rackets Bureau creating a Public Integrity Unit that will proactively investigate government corruption at all levels — from bribery by public servants to election fraud and criminal violations of state and local ethics laws.

  • October 20, 2010

    Q&A With McGuireWoods' Chuck McIntyre

    There was a lot of speculation about the waves of litigation that would materialize as a result of the financial crisis. Many of those waves did not materialize, and for those that did, they were not the tsunamis predicted. This may explain why most lawyers don’t surf in their free time, says Charles Wm. McIntyre, chairman of McGuireWoods LLP's government, regulatory and criminal investigations department.

  • October 20, 2010

    Gov't Says Nadel Doesn't Deserve Sentencing Break

    Federal prosecutors have reiterated their push for a 20-year jail sentence for admitted Ponzi schemer Arthur Nadel, days after Nadel's attorneys, citing his failing health and unjailed co-conspirators, sought leniency for their client.

  • October 20, 2010

    Former Greenberg Associate Admits To $500K Theft

    A former Greenberg Traurig LLP associate who specialized in bankruptcy and commercial foreclosure pled guilty Wednesday to federal charges related to a scheme to steal more than $500,000 from the firm.

  • October 20, 2010

    Western Titanium Exec Wants Charges Trimmed

    With less than a week before a criminal supply fraud case against Western Titanium Inc. over fighter jet materials heads to trial, a former company executive charged in the case has asked a judge to strike more than a dozen allegations from the indictment.