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White Collar

  • June 21, 2018

    'Buffalo Billion' Jury Told $500M Solar Plant Bid Was Fixed

    A once-powerful lobbyist back-channeled with former State University of New York President Alain Kaloyeros in 2013 to tailor a rigged proposal that let construction firm LPCiminelli win a $500 million Buffalo solar factory job, a cooperating witness told federal jurors hearing fraud charges against Kaloyeros and three other men Thursday.

  • June 21, 2018

    Chinese Man Accused Of Smuggling Submarine Tech

    A Chinese man who is a lawful permanent resident of Massachusetts was accused on Thursday of illegally exporting submarine detection equipment for a Chinese military research institute that has been flagged by the U.S. Department of Commerce for national security concerns.

  • June 21, 2018

    Manafort Can't Shield Seized Storage Files, Judge Rules

    A Washington, D.C., federal judge has rejected Paul Manafort's bid to keep Special Counsel Robert Mueller from using evidence FBI agents seized from boxes and a filing cabinet in a Virginia storage unit, saying that agents' warrantless peek inside — and the warrant they subsequently got — were both lawful.

  • June 21, 2018

    Breitling 'Frack Master' Arrested On $62M Fraud Charges

    The self-proclaimed “Frack Master,” who is the CEO of Breitling Energy Corp., has been arrested on charges he defrauded investors out of $62 million to fund a lavish lifestyle filled with luxury vehicles, private jets and expensive jewelry, according to a statement Thursday from U.S. Attorney Erin Nealy Cox.

  • June 21, 2018

    Ex-NY Senate Boss Squeezed Developer For Favors, Jury Told

    The senior vice president and general counsel for Manhattan luxury real estate developer Glenwood Management on Thursday told jurors that former New York State Senate Majority Leader Dean Skelos implored the company to steer work to his son Adam, while the New York real estate powerhouse was heavily lobbying the Senate for favorable real estate legislation.

  • June 21, 2018

    Senior Navy Officers Censured Over 'Fat Leonard' Scandal

    Navy Secretary Richard Spencer has censured three current and former senior Navy officers over their role in the wide-ranging “Fat Leonard” bribery scheme related to in-port service contracts, including a former admiral, according to letters made public Wednesday.

  • June 21, 2018

    Feds Oppose Accused Cryptocurrency Fraudster's Travel Bid

    The federal government urged a New York federal judge Thursday to deny a request to travel to Ukraine from a Brooklyn businessman charged with securities fraud over two initial coin offerings allegedly marketed through his companies REcoin and Diamond Reserve Club.

  • June 21, 2018

    Mass. Atty Gets More Than 1 Year For Short-Selling Homes

    A Massachusetts attorney facing an almost-certain disbarment was sentenced to a year and three months in prison Thursday after admitting to being part of a scheme to defraud banks and mortgage companies by short-selling houses.

  • June 21, 2018

    Man Accused Of Bilking Computers-For-Schools Program

    An Alabama man was indicted in Illinois federal court Wednesday on charges that he fraudulently profited off the resale of surplus government computer equipment that he allegedly obtained for free by exploiting a school’s privileges in a General Services Administration program meant to benefit schools and nonprofits.

  • June 21, 2018

    Ex-State Street Exec Keeps Mum As Fraud Trial Nears End

    A former executive at State Street Corp. decided Thursday against taking the stand in his Boston fraud trial, resting his defense against charges that he directed colleagues to slip hidden fees into multibillion-dollar trades for overseas clients and setting up a final courtroom showdown next week.

  • June 21, 2018

    Trial Proved Ex-American Realty Exec's Fraud, 2nd Circ. Told

    Prosecutors urged the Second Circuit to uphold the securities fraud conviction of former American Realty Capital Properties Inc. CFO Brian Block on Wednesday, saying a jury was free to reject his explanation of a $13 million tweak to financial statements.

  • June 21, 2018

    No Jail For Swiss Banker Who Helped Americans Dodge Taxes

    A New York federal judge sentenced a Swiss banker who admitted to helping Americans dodge taxes to a year of probation on Thursday, noting that no other Swiss bankers who surrendered have been sent to prison and saying she had cooperated significantly with prosecutors.

  • June 21, 2018

    Rubio Pushes Tough Line On Chinese Tariffs, Tech Sanctions

    Sen. Marco Rubio, R-Fla., applauded recently announced tariffs on Chinese imports Thursday while slamming the Trump administration’s reversal on a decision to lock telecommunications company ZTE out of the U.S., saying firm measures are needed to address intellectual property theft and national security threats posed by China.

  • June 21, 2018

    Fla. Investor Cops To Rigging Home Foreclosure Auctions

    A Florida real estate investor on Wednesday pled guilty for his part in a $16 million conspiracy to rig bids in online auctions on homes foreclosed following the 2008 financial crisis, the latest in the government's long-running foreclosure sales investigation.

  • June 20, 2018

    Ex-Dewey CFO Disbarred By Fraud Scheme Felony Conviction

    Former Dewey & LeBoeuf LLP chief financial officer Joel Sanders, convicted in New York state court last year on fraud and conspiracy charges, was disbarred Wednesday.

  • June 20, 2018

    High Court Could Give SEC Tougher Road In Fraud Actions

    By agreeing to hear an appeal of an investment banker found liable for fraud for copying and pasting his boss's fraudulent emails into a message to clients, the U.S. Supreme Court is expected to clarify the important distinction between primary and secondary liability in securities fraud cases, legal experts say.

  • June 20, 2018

    Ex-CIA Worker Denies Feeding US Secrets To WikiLeaks

    A New York man accused of stealing secrets while working for the Central Intelligence Agency in 2016 and feeding them to WikiLeaks pled not guilty Wednesday to charges of stealing and transmitting national defense information and asked for time to consider if he will consent to proceeding in Manhattan federal court.

  • June 20, 2018

    Jury Told Of Business Shakedowns By NY Senate Leader, Son

    Former New York state Senate Majority Leader Dean Skelos and his son used the once-powerful politician’s office to strong-arm businesses for illicit payments to the younger Skelos, prosecutors told a Manhattan federal jury Wednesday during opening arguments in the pair’s corruption retrial.

  • June 20, 2018

    W.Va. Justice Charged With Fraud, Taking Desk

    A West Virginia Supreme Court justice was indicted Wednesday on charges of fraud, lying to the Federal Bureau of Investigation and tampering with a witness related to his alleged misuse of state funds and property.

  • June 20, 2018

    Ex-Jones Day Partner Tapped For US Atty In San Diego

    A former partner at Jones Day who was shut out of a bid to become San Diego's U.S. attorney under the last Republican administration got the White House's nod for the job on Wednesday, as did three others in Colorado, New Orleans and Detroit.

Expert Analysis

  • Breaking Down The 2nd Criminal Spoofing Trial: Part 2

    Clifford Histed

    The criminal prosecution of Andre Flotron was ill-fated and suffered from a series of missteps and miscalculations by the government. However, it is now beyond any legitimate dispute that spoofing occurs, that it is illegal, that prosecutors are willing and able to charge spoofing as a criminal violation, and that it is possible to prove those charges in court, say attorneys with K&L Gates LLP.

  • Where Sports Bet Ruling Meets Federal Gambling Laws

    Scott Rader

    While each state is now free to enact new laws legalizing sports betting, the U.S. Supreme Court’s decision in Murphy v. NCAA does not displace a framework of federal gambling laws that were never intended to apply to a world where state-authorized sports betting is commonplace, say Scott Rader and Kelly Frey of Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • Breaking Down The 2nd Criminal Spoofing Trial: Part 1

    Clifford Histed

    The recent acquittal of former UBS trader Andre Flotron in the second spoofing case to go to trial has resulted in comparisons to the spoofing-related conviction of Michael Coscia in 2015. But there are significant differences between the two cases that make such comparisons difficult, say attorneys with K&L Gates LLP.

  • Impediments To Legal Industry's 'Inevitable' Future: Part 2

    Craig Levinson

    I agree with the legal pundits speculating that NewLaw’s present and future disruptors will radically change the legal services industry, but that change may not come quite as rapidly as predicted. Regardless, now is the time for both the incumbents and the challengers to best position themselves for the eventual shakeup, says Craig Levinson, founder of Levity Partners.

  • Impediments To Legal Industry's 'Inevitable' Future: Part 1

    Craig Levinson

    Legal pundits continue to make predictions that newer entrants into the industry — NewLaw firms, the Big Four and alternative legal service providers — will progressively seize greater amounts of market share from traditional law firms. But the BigLaw response has been underwhelming at best, and a glimpse at the market forces puts its lack of urgency into perspective, says Craig Levinson, founder of Levity Partners.

  • FCPA Enforcement Activity In Early 2018: Part 2

    Collmann Griffin

    The first quarter of 2018 was above average in terms of Foreign Corrupt Practices Act investigations closed by U.S. regulators without enforcement. But the government may return to more assertive enforcement in the future — and companies and individuals may still face liability long after the "completion" of any misconduct, says Collmann Griffin of Miller & Chevalier Chtd.

  • FCPA Enforcement Activity In Early 2018: Part 1

    Collmann Griffin

    Enforcement of the Foreign Corrupt Practices Act was relatively slow during the first quarter of 2018, with only three fairly low-value corporate enforcement actions announced between January and March of the year. But the announced second quarter settlements and likely future dispositions suggest that 2018 still may be an active year overall for FCPA enforcement, says Collmann Griffin of Miller & Chevalier Chtd.

  • Kokesh And Its Impact On SEC Enforcement, A Year Later

    Matthew Solomon

    One year ago, the U.S. Supreme Court ruled in Kokesh that the U.S. Securities and Exchange Commission’s disgorgement remedy is subject to a five-year statute of limitations. This has had a quantifiable effect on the agency’s enforcement program, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Opinion

    Why Widespread Use Of Live Video Testimony Is Not Justified

    Geoffrey Wyatt

    Despite the partiality some courts have shown to live video testimony, it provides no advantages — and several disadvantages — over the tried-and-true method of videotaped depositions, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • An Old 'New' Defense To IRS Penalties

    Tom Cullinan

    Nearly 20 years after Congress enacted Internal Revenue Code Section 6751, requiring written supervisory approval of penalty determinations, recent decisions have established the statute as the first line of defense against IRS penalties. Corporate taxpayers, partnerships and other entities, however, must be mindful of timing when challenging Section 6751 compliance or risk waiving this defense altogether, say Thomas Cullinan and Rebecca Stork of Eversheds Sutherland LLP.