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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.