White Collar

  • April 25, 2017

    Expedia Tech Guy Who Traded On Hacked Emails Sentenced

    A former computer technician at Expedia Inc. who pled guilty last year to snooping on executives’ emails and trading on insider information about revenues to gin up $331,000 in illicit profits was sentenced to 15 months in prison by a federal judge in Washington state Tuesday.

  • April 25, 2017

    Fla. Man Gets Prison For $1.5M Phony Billing Scheme

    A Florida man has been sentenced to nearly four and a half years in prison for bilking $1.5 million from a New Jersey financing company using a phony billing scheme, acting U.S. Attorney William E. Fitzpatrick announced Monday.

  • April 25, 2017

    Jury Partially Deadlocked In Dallas Corruption Trial

    A Texas federal jury weighing a corruption case against Dallas County Commissioner John Wiley Price partially deadlocked Tuesday in its fifth day of deliberations, but was instructed by the judge to “take a few deep breaths,” get a good night’s sleep and return the next morning to try to reach unanimity.

  • April 25, 2017

    Senate OKs Maryland US Attorney As Deputy AG

    The Senate approved Attorney General Jeff Sessions’ second-in-command on Tuesday, confirming Maryland U.S. Attorney Rod Rosenstein as the deputy attorney general in bipartisan fashion.

  • April 25, 2017

    Ex-Hunton Atty Seeks Retrial After Insider Trading Conviction

    The insider trading conviction of former Hunton & Williams LLP patent lawyer Rob Schulman was based on insufficient evidence that he meant to profit from tipping an investment adviser about Pfizer Inc.’s plans to acquire his drugmaker client, Schulman argued in a pair of filings Monday in New York federal court.

  • April 25, 2017

    Murder Trial For Pharmacist In Meningitis Outbreak Delayed

    A federal judge in Massachusetts on Tuesday delayed the trial for the second pharmacist charged with racketeering and second-degree murder in the 2012 fatal meningitis outbreak by a month, to September.

  • April 25, 2017

    Flynn's Foreign Payments Likely Unlawful, Lawmakers Say

    Michael Flynn, former national security adviser to President Donald Trump, likely broke the law when he failed to seek permission for payments from foreign governments, House Oversight and Government Reform Committee leaders said Tuesday.

  • April 25, 2017

    Ex-Boilermakers Boss Indicted In Alleged $1.5M Fund Theft

    A western Pennsylvania labor leader was slapped with federal charges Monday alleging that he stole some $1.5 million in funds from an International Brotherhood of Boilermakers local for his own use and failed to pay taxes on the money.

  • April 25, 2017

    Ex-Pa. Judicial Ethics Panelist Gets 6½ Years In $3M Fraud

    A former Pennsylvania stockbroker who at one point sat on the state’s Court of Judicial Discipline received six and a half years in prison Monday after pleading guilty to a $3 million fraud scheme that involved false promises of real estate investments and wine and olive oil imports.

  • April 25, 2017

    Texas AG Paxton Asks Harris County Directly For New Judge

    Defense lawyers in the felony securities fraud case against Texas Attorney General Ken Paxton on Monday directly asked Harris County to assign a new judge to the case, again arguing that without their consent, the original judge can no longer preside over the case after ordering a change in trial venue.

  • April 25, 2017

    SEC Says Del. Man Ran $1.7M Mortgage Investment Scheme

    The U.S. Securities and Exchange Commission filed a lawsuit Tuesday in Delaware federal court alleging a Delaware man raised more than $1.69 million from unsophisticated investors by falsely claiming he was running a highly successful mortgage business.

  • April 25, 2017

    Ex-Cay Clubs CFO Seeks Leniency In $300M Ponzi Sentence

    A Florida real estate executive convicted for bank fraud in an alleged $300 million Ponzi scheme repeated his opposition to prosecutors’ recommendation of a 93-year prison sentence and millions in restitution and fines on Monday, saying he has no prior arrests and has a low likelihood of recidivism.

  • April 25, 2017

    Feds Must Name Co-Conspirators In Nomura RMBS Case

    A Connecticut federal judge told prosecutors on Monday to turn over the names of people who allegedly conspired with three traders at Nomura Securities International Inc. to juice their profits by lying to customers about the prices they paid for residential mortgage-backed securities.

  • April 25, 2017

    Ex-MillerCoors Employee Gets Probation In $8M Fraud

    A former MillerCoors LLC employee was sentenced to three years of probation Tuesday in Illinois federal court for her role in an $8.6 million fraud scheme against the beer giant after prosecutors acknowledged that she was the least culpable of the eight people indicted.

  • April 25, 2017

    Latest NYPD Corruption Bust Nets Lieutenant, Private Lawyer

    The NYPD gun-licensing unit's former boss and a Brooklyn prosecutor-turned-gun-lawyer were arrested Tuesday and charged with bribery, the latest in what acting Manhattan U.S. Attorney Joon H. Kim called an ongoing probe into "parasitic profiteers" in and close to the New York City police department.

  • April 25, 2017

    Texas Brothers Get Prison In $6.3M Ambulance Scam

    Two Houston-area brothers have each been sentenced to more than four years in prison for fraudulently billing federal health care programs $6.3 million for ambulance services, the U.S. Department of Justice announced Monday.

  • April 25, 2017

    Indicted Philly DA Blasts Predecessor's Removal Suit

    Philadelphia’s indicted district attorney has urged a state judge to find that a predecessor does not have standing to pursue a lawsuit seeking to have him removed from office in the wake of a federal bribery indictment last month.

  • April 25, 2017

    FTC Slams Atty's Bid To End Foreclosure Scam Injunction

    The Federal Trade Commission on Monday urged a California federal judge not to dissolve an injunction against an attorney accused of luring homeowners into “mass-joinder” lawsuits against mortgage lenders with false promises of debt relief, saying nothing has changed since he agreed to the injunction.

  • April 24, 2017

    Congress Tells SEC To Rein Itself In With CHOICE Act 2.0

    Although Rep. Jeb Hensarling’s second shot at repealing Dodd-Frank faces an uncertain path to passage, experts say the Financial CHOICE Act 2.0 sends a clear message to the U.S. Securities and Exchange Commission to pull back its enforcement program and focus on capital formation — a message likely to be well received by the agency’s new leadership.

  • April 24, 2017

    Portfolio Manager Cops To Fraud In $1.9M Trading Scheme

    A portfolio manager for Eaton Vance Corp. pled guilty to securities fraud Monday in Massachusetts federal court for diverting $1.9 million in trading profits to a personal brokerage account, the same day the U.S. Securities and Exchange Commission slapped fraud charges against the manager.

Expert Analysis

  • Lessons From Wells Fargo’s Corporate Control Failures

    Brian K. Tomkiel

    It is tempting to simply blame Wells Fargo’s C-suite for creating a corporate culture that fostered unethical behavior. Yet, a recent investigation into the bank's sales practices tells a deeper story about its corporate control functions and how they failed to fulfill their ultimate mandate — protecting the business from risk, says Brian Tomkiel, director of compliance at Gap Inc.

  • Monthly Column

    Gray Matters: The Attorney-Client Team

    Robert Creo

    A 1979 study of attorney-client interactions revealed startling information: Despite years of education and training to hone their legal expertise, attorneys were not acting as independent counselors but rather allowing their clients to control them. Our experience is that this trend has accelerated, say dispute resolution experts Robert Creo and Selina Shultz.

  • Justices Skeptical Of SEC Disgorgement Without Time Limits

    Dan McCaughey

    The decision by the U.S. Supreme Court in Kokesh v. Securities and Exchange Commission could meaningfully limit the uncertainty, expense and evidentiary disadvantages faced by parties responding to SEC investigations into conduct dating back more than five years, say attorneys with Ropes & Gray LLP.

  • Litigation Finance, Big Data And The Limits Of AI

    Christopher Bogart

    Theoretically, both better data and its better use should be able to improve results in litigation, and thus help litigation financiers allocate more capital to meritorious matters. However, while big data and artificial intelligence are intriguing additions to the litigation toolkit, they are far from turning litigation finance on its head, says Christopher Bogart, CEO of Burford Capital LLC.

  • Series

    Counsel To Counsel: Mama Said There'll Be Days Like This

    Peter J. Engstrom

    It's no longer enough for law firms simply to provide expert legal advice — we are expected to mirror clients' legal, ethics and social commitments and promises. For law firm GCs, the resulting job demands seem to grow exponentially, says Peter Engstrom, general counsel of Baker McKenzie.

  • Series

    Counsel To Counsel: A Law Firm GC's Data Protection Duties

    Thomas W. White

    Increasingly, we see companies in all industries seeking to perform various levels of due diligence on our information security defenses. We received three times as many diligence requests from clients and prospective clients in 2016 as we did in 2015. Some clients even conduct their own penetration tests, says Thomas White, general counsel of WilmerHale.

  • British Virgin Islands Aligns With Global Standards

    Rachael McDonald

    The British Virgin Islands, like other offshore financial centers, has struggled against public perception that it is a treasure island for corrupt politicians and fraudsters. But global monitors now rank the BVI alongside the U.K. and the U.S. in compliance with international standards, and more constructive changes are on the way, say Rachael McDonald and Sarah Galletly of Mourant Ozannes.

  • Series

    Counsel To Counsel: Evaluating Positional Conflicts

    Nicholas A. Gravante Jr.

    What happens when attorneys come to their general counsel’s office with knowledge of a potential positional conflict? While the inquiry will depend on the rules governing the particular jurisdiction, there are a few general questions to consider from both business and legal ethics perspectives, say general counsel Nicholas A. Gravante Jr. and deputy general counsel Ilana R. Miller of Boies Schiller Flexner LLP.

  • Series

    Counsel To Counsel: 5 Challenges For A Law Firm GC

    John Koski

    Regardless of where we live and practice, regardless of whether trade deals succeed or fail, and regardless of whether the movement of people or capital is easy or difficult, our clients will still have needs or problems far away from home, says John Koski, global chief legal officer at Dentons.

  • Roundup

    Evaluating FCPA Pilot Program

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    In April 2016, the U.S. Department of Justice launched a pilot program to reward companies that voluntarily self-report violations of the Foreign Corrupt Practices Act. Now that a year has passed, this series examines the impact and potential future of the program.