White Collar

  • June 21, 2017

    Judge OKs Ponzi Scheme Receiver's $4M Deal With Bank

    A Florida federal judge signed off Wednesday on a settlement of more than $4.2 million between the receiver in hedge fund manager Arthur Nadel's $168 million Ponzi scheme and Wells Fargo Bank NA to resolve the bank's claims on three properties in the Sunshine State and North Carolina.

  • June 21, 2017

    Ex-Busybox Atty Again Says Janus Applies To Criminal Cases

    A former attorney for Busybox.com Inc. on Wednesday made yet another attempt to escape his guilty plea to securities fraud charges related to the stock photo company’s failed initial public offering, telling a Second Circuit panel he stands convicted of conduct which is no longer deemed criminal in light of the U.S. Supreme Court's Janus ruling. 

  • June 21, 2017

    Blogger Cops To Role Conning Culprits In RE Bribe Scheme

    A blogger and “art world aficionado” pled guilty Wednesday in New York to charges tied to his role in tricking relatives of former United Nations head Ban Ki-moon into paying him $500,000 for a supposed real estate bribe he later pocketed, prosecutors said.

  • June 21, 2017

    Justice Sotomayor On The Power Of Dissent

    Justice Sonia Sotomayor discusses her views on writing dissents and the change she hopes they inspire in the law, in the second of two articles based on an exclusive interview with the 111th justice.

  • June 21, 2017

    Feds Can Shield Classified Info In UN Bribery Case

    A New York federal judge on Wednesday held that prosecutors can shield certain classified information from a Chinese developer accused of bribing United Nations officials, ruling the information is relevant to national security and wouldn’t aid the developer in his trial, which is slated to start next week. 

  • June 21, 2017

    Junior Staffer OK'd REIT's Challenged Filing, Jury Hears

    The engagement partner at the firm responsible for auditing American Realty Capital Properties’s SEC filing was asleep while a 26-year-old staffer used his “professional judgment” to clear a last-minute $13 million unsupported adjustment, the jury heard Wednesday in the New York federal fraud trial of ARCP’s ex-Chief Financial Officer Brian Block.

  • June 21, 2017

    Ex-Swisher Execs Convicted Of Securities Fraud Conspiracy

    Two former executives at dissolving cleaning company Swisher Hygiene Inc. were found guilty of conspiracy to commit securities fraud by a North Carolina federal judge Tuesday after a nearly three-week bench trial held earlier this year.

  • June 21, 2017

    Third Ex-Tribal Council Member Pleads Guilty In Casino Theft

    A third ex-Winnebago Tribal Council member has pled guilty in Nebraska federal court to taking money from the tribe’s casino without authorization, amid accusations by federal prosecutors of a broader conspiracy to steal from the casino.

  • June 21, 2017

    NJ Biz Owner Charged In $1M 'Pump-And-Dump' Scheme

    Federal prosecutors on Wednesday announced that they charged a New Jersey man who ran what appeared to be a business consulting firm with participating in a $1.1. million scheme to inflate the stock of a health supplements company he controlled.

  • June 21, 2017

    NYC Tax Fraudster Tells 2nd Circ. US Atty Broke Plea Deal

    The convicted ringleader of a crooked tax preparation shop asked the Second Circuit on Wednesday to vacate his nine-year prison term for running a $3.5 million tax fraud scheme that made thousands of illegal claims based on information gleaned from a corrupt New York City official, saying prosecutors breached the terms of his plea deal.

  • June 21, 2017

    Feds Want 10 Years For Bitcoin Exchange Operator

    New York federal prosecutors Tuesday sought a 10-year minimum prison term for Coin.mx operator Anthony Murgio after he pled guilty to bank fraud and other charges, ripping his “self-serving gloss” on his misdeeds and saying a lesser sentence would send a bad signal.

  • June 21, 2017

    Ditched $4M Forfeiture Bid Just The Beginning Post-Honeycutt

    The U.S. Supreme Court's recent Honeycutt ruling gives defendants a powerful tool to fight joint forfeiture and they're using it, leaving prosecutors to argue against its application in individual cases or cut deals — and in one case to abandon a $4 million forfeiture bid.

  • June 21, 2017

    MGM Grand, Canadian Banks Settle Gambling Fraud Claims

    A pair of Canadian bank entities whose employee allegedly falsified payment guarantees for a gambler who lost $1.5 million at the MGM Grand have agreed to pay an undisclosed amount to the casino to settle the claims, according to documents filed in Nevada federal court on Wednesday.

  • June 21, 2017

    Feds Seek To Oust Texas Politico's Atty Over Client Conflict

    Federal prosecutors said in a motion unsealed Tuesday that the lawyer defending Texas state Sen. Carlos Uresti in a securities fraud case tied to a fracking sand company should be disqualified because he previously represented a client whom Uresti, also an attorney, allegedly defrauded.

  • June 21, 2017

    Feds Flag Philly DA's Messy Finances In Corruption Trial

    Federal prosecutors shined a spotlight on Philadelphia District Attorney Seth Williams’ financial woes on the second day of his corruption trial Wednesday, as jurors learned how he struggled to pay bills even when earning almost $200,000 annually.

  • June 21, 2017

    Latham Nabs Ex-DOJ Criminal Head In San Francisco

    Latham & Watkins LLP upped its white collar firepower Wednesday with the hire of Leslie Caldwell, a veteran of the U.S. Department of Justice who most recently led its Criminal Division, as a partner in San Francisco.

  • June 21, 2017

    Former Charity Manager Denies Iran Link In Forfeiture Trial

    A longtime financial manager for the Alavi Foundation, the Iran-linked charity being targeted by the U.S. in a billion-dollar asset forfeiture trial, asserted Wednesday that the Mideast power had no influence over the charity's management of the 36-story Manhattan office tower at the heart of the case. 

  • June 21, 2017

    Ex-Prosecutor Who Drafted Swiss Bank Plan Joins Jones Day

    A tax litigator who once brokered a deal with the government of Switzerland to resolve Swiss banks’ potential criminal liabilities has joined Jones Day as a partner in New York after a three-year stint at DLA Piper.

  • June 21, 2017

    2nd Circ. Affirms Vending Machine CEO’s Fraud Conviction

    A Second Circuit panel on Wednesday affirmed the fraud conviction of the former CEO of a defunct vending machine sales company, finding that lies told by the company’s sales team about the money-making potential of the machines were not undone by the disclaimers in contracts signed by customers.

  • June 21, 2017

    Ballots Not Affected In 21 States Targeted By Russia: DHS

    Russia attacked election systems in 21 states as part of efforts to interfere with the 2016 U.S. presidential election, but those hacking attempts did not result in any ballots being changed, a senior U.S. Department of Homeland Security official said Wednesday.

Expert Analysis

  • AGs Break New Ground With Emoluments Suit Against Trump

    Martha Coakley

    States have routinely sought to defend their place in the federal system and to protect themselves from unfair competitive practices — but never before from a president whose allegedly unconstitutional business ties might impact those interests, say former Massachusetts Attorney General Martha Coakley and Aaron Lang of Foley Hoag LLP.

  • Tips For Complying With ABA’s New Encryption Guidance

    Nick Holda

    Last month, the American Bar Association published revised guidance regarding an attorney’s duty to protect sensitive client material in light of recent high-profile hacks. The first step in compliance is understanding how your data is being stored and accessed. There are three key questions you should ask your firm’s information technology staff and/or external solution vendors, says Nick Holda of PreVeil.

  • Regulatory Focus On Bond Valuation Should Not Be Ignored

    Joshua Newville

    With the U.S. Department of Justice and the U.S. Securities and Exchange Commission reportedly investigating bond valuation procedures and policies, fair-valuing illiquid assets should be a key concern for fund managers. Valuation can be more art than science, but there are heightened regulatory risks in certain areas, say attorneys with Proskauer Rose LLP.

  • Weekly Column

    Innovating For Wise Juries: Preliminary Instructions

    Richard Lorren Jolly

    One of the easiest ways to improve civil jury trials is to give juries substantive instructions on the law at the beginning of the trial rather than at its conclusion. It is also one of the most popular proposals we are recommending, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.

  • Opinion

    Comey Testimony Shows Value Of Whistleblower Protections

    Jason Zuckerman

    To make America great again, the president should abandon the "Rambo" litigation tactics that apparently served him well in New York real estate disputes, and instead view whistleblowers as allies, not enemies, says Jason Zuckerman of Zuckerman Law.

  • Due Diligence From The Lateral Partner’s Perspective

    Howard Flack

    Lateral candidates looking to make the last — or perhaps only — move of their career cannot afford to just stand by and let a law firm’s vetting process unfold on its own, says Howard Flack, a partner at Volta Talent Strategies who previously led lateral partner recruiting and integration at Hogan Lovells.

  • Lateral Partner Due Diligence: Where Should A Firm Begin?

    Howard Flack

    One frequently hears from leading malpractice insurers that one of the highest risk categories for law firms is that of lateral partners not sufficiently vetted during the recruitment process, says Howard Flack, a partner at Volta Talent Strategies Inc. who previously led lateral partner recruiting and integration at Hogan Lovells.

  • SEC Disgorgement Limits Should Apply To FERC And CFTC

    Daniel Mullen

    The U.S. Supreme Court recently ruled that U.S. Securities and Exchange Commission enforcement actions requiring disgorgement of ill-gotten gains are subject to a five-year statute of limitations. The same principles appear to apply equally to disgorgement claims by the Federal Energy Regulatory Commission and the U.S. Commodity Futures Trading Commission, say Daniel Mullen and Charles Mills of Steptoe & Johnson LLP.

  • Inside The CFTC's Enhanced Whistleblower Protections

    Lewis Csedrik

    The U.S. Commodity Futures Trading Commission recently adopted amendments that strengthen anti-retaliation protections for whistleblowers by expanding the CFTC’s enforcement authority. These amendments raise several questions for employers engaged in derivative markets, say members of Morgan Lewis & Bockius LLP.

  • What Cos. Need To Know About The UK Criminal Finances Act

    Neil Gerrard

    The U.K.'s Criminal Finances Act 2017 creates a new offense of failure to prevent the facilitation of tax evasion. The extraterritorial effect of the offense means that entities doing business in the U.K. will be criminally liable even if an associated person commits tax evasion in another jurisdiction. The potential impact is far-reaching and burdensome, say attorneys with Dechert LLP.