White Collar

  • April 26, 2017

    'Stalker' CEO Can't Yet Appeal $5.7M Verdict, 2nd Circ. Rules

    The Second Circuit on Wednesday brushed off the appeal of a private equity CEO facing a $5.7 million employee defamation verdict, saying his judgment isn't yet final because there are pending contract claims, so no appeal is allowed.

  • April 26, 2017

    Renzi Falls Short Again On Conviction Appeal At 9th Circ.

    Former Arizona lawmaker Rick Renzi lost another appeal of his corruption conviction when the Ninth Circuit on Wednesday rejected his contention that the FBI had tainted its case by promising to pay a prosecution witness to cooperate, in part because the witness wasn’t ever paid.

  • April 26, 2017

    Ex-Fla. Lawmaker Didn't File Tax Returns For 7 Years

    Former State Rep. Erik Fresen pled guilty Wednesday to failing to file a tax return for 2011, just one year of a seven-year span in which he skipped filing returns while serving as a legislator.

  • April 26, 2017

    Adviser Gets 5 Years For Stealing $2.9M From NFLers

    A North Carolina businessman who provided financial services to National Football League players has been sentenced to more than five years in prison for wire fraud and filing false tax returns, the U.S. Department of Justice said Wednesday.

  • April 26, 2017

    US Can't Indefinitely Gag Adobe On Data Demand, Judge Says

    A California magistrate judge has blocked the federal government from indefinitely barring Adobe from disclosing the existence of a search warrant for user data in a sealed criminal case, ruling that the First Amendment requires a "narrower tailoring" of the gag order and setting a 180-day time limit.

  • April 26, 2017

    NY Judge Pauses SEC’s ‘Hamilton’ Ponzi Case

    A New York federal judge on Wednesday issued a stay order pausing the U.S. Securities and Exchange Commission’s civil suit against two men accused of running a $97 million Ponzi scheme involving ticket resales to the Broadway smash “Hamilton,” agreeing the men won’t have to answer the allegations.

  • April 26, 2017

    Counterfeit 5-Hour Energy Ringleader Sentenced To 7 Years

    A wholesale distribution company owner who pled guilty to orchestrating a scheme to sell counterfeit 5-Hour Energy drinks was sentenced on Wednesday to seven years in prison and ordered to pay more than half a million dollars in restitution to the drink’s maker, according to the U.S. attorney’s office in San Francisco.

  • April 26, 2017

    Feds, Ex-MLB Star Clash Over Insider Trading Jury Instructions

    Former Major League Baseball player Doug DeCinces and federal prosecutors traded jabs in filings in California federal court Tuesday over proposed jury instructions in a case alleging the athlete, his friend and a former CEO traded on nonpublic information about a medical device company’s merger plans.

  • April 26, 2017

    Shkreli Lobs Password-Cracking Allegation At Retrophin

    Former Retrophin Inc. CEO Martin Shkreli accused his former company of accessing a password-protected trove of his documents and delivering them to investigators seeking to convict him of securities and wire fraud Wednesday, but a prosecutor said the allegation came out of thin air.

  • April 26, 2017

    Ex-RMBS Trader Jesse Litvak Again Sentenced To 2 Years

    Former Jefferies Group LLC residential mortgage-backed securities trader Jesse Litvak was sentenced Wednesday in Connecticut federal court to two years in prison, the same time he got in 2014 before an appeal and a retrial saw all but one of his convictions thrown out.

  • April 26, 2017

    Broker Used Clients’ Savings On Volatile Trades, SEC Says

    A broker used client funds to make highly volatile and risky trades without their knowledge and to pay off his personal credit card debt, bar tabs and restaurant bills, the U.S. Securities and Exchange Commission alleged in New York federal court on Tuesday.

  • April 26, 2017

    Billionaire Can't Dodge Indictment In UN Bribery Case

    A New York federal judge Wednesday declined to dismiss an indictment against Chinese real estate billionaire Ng Lap Seng charging him with a plot to bribe United Nations officials to facilitate construction of a convention center in Macau, saying it is legally sufficient.

  • April 26, 2017

    EU Directs 4 Years In Jail For Major Tax Fraud, Corruption

    A directive adopted Tuesday by the Council of the European Union will require member nations to implement criminal laws including a maximum penalty of at least four years in prison for major tax evasion, fraud, corruption and other white collar crimes harming the EU budget.

  • April 26, 2017

    JPMorgan Sheds Claims It Aided Madoff At 2nd Circ.

    The Second Circuit on Wednesday affirmed the dismissal of class allegations that JPMorgan Chase & Co. employees aided and abetted Bernie Madoff’s Ponzi scheme, agreeing with a lower court that JPMorgan’s lack of control over the scheme dooms the suit.

  • April 26, 2017

    BIA Clarifies How To 'Peek' At Immigrant Convicts' Records

    Immigration judges trying to determine whether immigrants have committed crimes making them subject to deportation may “peek” at a foreign-born individual’s conviction record only as part of determining what facts must be proven beyond a reasonable doubt to juries, the Board of Immigration Appeals has held.

  • April 26, 2017

    Ill. Judge Removed From Bench Over Mortgage Fraud Charges

    A Cook County, Illinois, judge was removed from the bench Wednesday, the same day she entered a plea of not guilty to federal charges that she ran a $1.4 million mortgage fraud scheme before she became a judge.

  • April 25, 2017

    DA Failed To Pin Fraud On Dewey's DiCarmine, Jury Hears

    An attorney for the former executive director of Dewey & LeBoeuf LLP on Tuesday made her final remarks to the jury in the retrial over a purported scheme to fraudulently prop up the now defunct law firm, telling a Manhattan jury no witness testimony or evidence implicates Stephen DiCarmine in a crime.

  • April 25, 2017

    Calif. Broker Gets 6 Months In Pump-And-Dump Scheme

    A Florida federal judge sentenced a California-based stock promoter Monday to six months in prison for his role in an alleged pump-and-dump scheme in which he and several co-conspirators issued shares in fraudulent shell companies and sold them to investors at a profit.

  • April 25, 2017

    Canada Fines Mitsubishi Electric $9.9M For Auto Parts Rigging

    Mitsubishi Electric Corp. admitted it played a role in an international conspiracy to rig bids on car parts in the Ontario Superior Court of Justice on Tuesday as it was hit with a fine of CA$13.4 million ($9.9 million), Canada’s competition regulator said.

  • April 25, 2017

    Ex-Merrill Lynch Adviser Cops To Stealing $1M From Clients

    A former Merrill Lynch investment adviser pled guilty Tuesday to pocketing $1 million belonging to two of his clients by withdrawing the funds without the clients' permission and passing them through a Chicago-based chamber of commerce.

Expert Analysis

  • 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.

  • Series

    Evaluating FCPA Pilot Program: Lessons And Expectations

    Erin G.H. Sloane

    Over the course of the Foreign Corrupt Practices Act pilot program so far, the U.S. Department of Justice has further defined what full cooperation and remediation looks like, refusing to provide full credit in instances in which companies failed to live up to its standards, say attorneys with WilmerHale.

  • Series

    My Strangest Day In Court: When The Witness Attacked

    James J. Brosnahan

    Focused on my final argument notes, I nonetheless noticed a pause in the cross-examination of my client. Then I saw a flutter of activity out of the corner of my right eye, recalls James Brosnahan of Morrison & Foerster LLP.

  • Lawyers In Flow: Get Out Of Your Head And Into Your Case

    Jennifer Gibbs

    If Time Magazine is correct in that being a lawyer is one of the five worst high-paying jobs, it may be time for the legal profession to pull one from the playbook of musicians and professional athletes and seek to enter a state of “flow,” says Jennifer Gibbs of Zelle LLP.

  • Series

    Evaluating FCPA Pilot Program: The Data, The Trends

    Ryan J. Rohlfsen

    The U.S. Department of Justice's application of the Foreign Corrupt Practices Act pilot program over the last year has yielded some degree of consistency. Cooperation, monitorships and self-disclosure have emerged as key considerations for companies investigating potential misconduct, say attorneys with Ropes & Gray LLP.

  • Series

    Evaluating FCPA Pilot Program: A Look At SEC Involvement

    Luke T. Cadigan

    The U.S. Securities and Exchange Commission played a prominent role in the first year of the U.S. Department of Justice’s Foreign Corrupt Practices Act pilot program. Indeed, in those cases under the program in which the DOJ publicly declined to take action and the SEC could take action, the SEC did take action, say Luke Cadigan and Michael McMahon of Cooley LLP.