White Collar

  • August 14, 2017

    Ex-CFO Tells 2nd Circ. Jury Needed To Know Witness's Affair

    A former health services executive asked the Second Circuit on Monday to toss his wire fraud conviction, saying a New York district judge wrongly prevented him from revealing a witness’ extramarital affair to attack his credibility.

  • August 14, 2017

    Cell Location Searches Assailed In Raft Of High Court Briefs

    A slew of digital rights, press freedom and Fourth Amendment advocates urged the U.S. Supreme Court on Monday to rule that the government can’t obtain historical cellphone location records without a warrant.

  • August 14, 2017

    Judge Refuses First Farmers Receiver's Injunction Bid

    An Illinois federal judge declined Monday to impose a preliminary injunction against two Banes Capital Management LLC entities accused of profiting from the $179 million fraudulent loan scheme orchestrated by Nikesh Patel through his First Farmers Financial LLC.

  • August 14, 2017

    Trump 'Seriously Considering' Pardoning Ex-Sheriff Arpaio

    President Donald Trump told Fox News on Sunday that he is “seriously considering” issuing a pardon for former Maricopa County Sheriff Joe Arpaio, who was convicted of criminal contempt last month for violating a court order that called for a stop to detentions of individuals in Arizona based on their suspected immigration status.

  • August 14, 2017

    La. Dentist Beats Insider Trading Rap Over Shaw Merger

    A Louisiana dentist was acquitted Friday of insider trading charges brought over claims that he traded on nonpublic information provided by his brother-in-law, a former executive of engineering company The Shaw Group, about a pending merger that would send company stock soaring.

  • August 14, 2017

    Kelley Drye Adds Former SDNY Prosecutor

    A prosecutor leaving the U.S. Attorney's Office for the Southern District of New York after working on the civil fraud case against Bank of America and a $230 million Russian money laundering case is joining Kelley Drye & Warren LLP, the firm said Monday.

  • August 14, 2017

    Fla. Man Gets 4 Years For FEMA Contract Fraud Scheme

    A Florida man is heading to federal prison for more than four years for running a scheme that charged companies hundreds of dollars to falsely “register” them with the Federal Emergency Management Agency, purportedly to gain preference for future contracting opportunities.

  • August 14, 2017

    Jury ‘Not Sure How To Go On’ In ‘Top Chef’ Extortion Case

    Jurors considering the fate of four Boston-area Teamsters accused of strong-arming a “Top Chef” TV crew into giving them unnecessary truck-driving work entered their 18th hour of deliberations Monday while suggesting a possible impasse and a lone holdout.

  • August 14, 2017

    Doctor Can’t Escape $550M Social Security Fraud Verdict

    A Kentucky federal judge on Monday rejected a clinical psychologist’s attempt to toss a jury’s finding that he defrauded Social Security of at least $550 million in disability benefits, saying that the government presented “compelling” evidence that the man participated in the fraud scheme.

  • August 14, 2017

    Hedge Fund Manager, 2 Firms Must Pay SEC Nearly $13M

    A Connecticut hedge fund manager and two of his investment advisory firms have been ordered to pay nearly $13 million after they were found liable for allegedly misappropriating investor funds, the U.S. Securities and Exchange Commission said in a statement Friday.

  • August 14, 2017

    Chinese Pharma Co. Gets Nasdaq Leeway Amid FCPA Probe

    Chinese vaccine maker Sinovac Biotech Ltd. said Monday that Nasdaq has approved its plan stay listed in the U.S. and disclosed that the company is expanding an internal probe into potential Foreign Corrupt Practices Act violations.

  • August 14, 2017

    FINRA Expels Firm, Bars CEO Over Stock Sale Fraud

    The Financial Industry Regulatory Authority announced Monday that it has expelled Hallmark Investments Inc. and barred its CEO from the securities industry over a scheme that used manipulative trading to sell shares to customers at fraudulently inflated prices, charging a mark-up of more than 20,000 percent.

  • August 14, 2017

    Tech Exec’s Hubby, Family Settle SEC Insider Trading Claims

    A computer parts executive's husband, his friend and two relatives who traded on his tip about a pending company acquisition have agreed to pay $479,000 to settle securities fraud claims brought by the U.S. Securities and Exchange Commission.

  • August 14, 2017

    US Defends Bid To Quash Menendez Subpoenas

    The government on Monday defended its bid to quash subpoenas served by Sen. Bob Menendez and a Florida ophthalmologist on federal agencies seeking documents for their upcoming corruption trial, telling a New Jersey federal court that their requests are “breathtakingly overbroad” and rebutting their claim it does not have standing for the motion.

  • August 14, 2017

    Receiver Can Sue Outside Accountant Over Missed Fraud

    An Illinois state appellate court said Friday that state law allows court-appointed receivers to bring lawsuits on behalf of a company against its outside auditors after they fail to uncover the owner’s fraud, rejecting the argument that the receiver is equivalent to the fraudster.

  • August 14, 2017

    Arizona Man Gets 16 Years For Online Dating Scam

    An Arizona man who bilked women of their savings in an online dating scam was sentenced to nearly 16 years in prison by a state judge Friday, the state attorney general said.

  • August 14, 2017

    Ex-Execs Sentenced Over 'Fat Leonard' Navy Fraud Scheme

    Two former executives of a Singapore-based defense contractor were sentenced to between three and six years in prison for their role in the massive “Fat Leonard” scandal that overcharged the U.S. Navy about $35 million for resupplying and servicing ships in Asia.

  • August 14, 2017

    11th Circ. Upholds Conviction For $20M Ponzi Scheme

    The Eleventh Circuit on Friday confirmed the conviction and the 17-year sentence of a Michigan man for a Ponzi scheme in which he duped investors out of more than $20 million based on false promises that he would put the funds into oil ventures.

  • August 11, 2017

    News Outlets Ask Shkreli Trial Judge For Juror Names

    An attorney for Bloomberg, The Associated Press, Reuters, The New York Times Co., Daily News LP and NYP Holdings asked a New York federal judge on Friday to release the names of jury members who convicted controversial former pharmaceutical executive Martin Shkreli on two counts of securities fraud and another conspiracy charge.

  • August 11, 2017

    BofA Merger Settlement Administrator Can’t Beat Fraud Suit

    An accounting firm that was sued after it gave $6 million in settlement funds meant for Bank of America Corp. investors to a fraudster had two potential defenses spiked by a Pennsylvania federal judge on Friday, with the court saying the suit against Heffler Radetich & Saitta LLP couldn’t be stopped by procedural stumbling blocks.

Expert Analysis

  • Budgetary Scoring Rules Are To Blame For FBI HQ Setback

    Dorothy Robyn

    The Trump administration should exempt the stalled FBI headquarters project from a perverse set of budgetary scorekeeping rules, and start a much-needed re-examination of our approach to government buildings, say Dorothy Robyn, former GSA public buildings commissioner, and Steve Sorett of Kutak Rock LLP.

  • 5 Questions To Ask Before Entering Joint-Representation AFA

    Natalie Hanlon Leh

    One growing trend is for clients to enter into alternative fee arrangements in which one law firm represents multiple parties who “share” fees and costs in a related matter. This way parties can more efficiently manage a matter and reduce their individual legal fees. But joint representation is not without its own risks and challenges, say attorneys with WilmerHale.

  • Legal Incubators Can Help New Lawyers And Society

    Martin Pritikin

    Legal incubators serve as an important bridge to practice and a crucial step toward aligning the incentives of new lawyers with the needs of their clients. They may even pose a threat to the traditional law school model itself, and that's not necessarily a bad thing, says Martin Pritikin, dean of Concord Law School at Kaplan University.

  • 4 Key Defenses In FBAR Liability

    Christopher Rajotte

    A U.S. person must file a Foreign Bank Account Report for offshore accounts with values exceeding $10,000 at any point during a given year. The first line of defense against an FBAR penalty is compliance with the filing obligation, but if a case is brought, several defense strategies are especially useful, says Chris Rajotte of Fuerst Ittleman David & Joseph PL.

  • Series

    15 Years Of SOX: Avoiding PCAOB Enforcement Sanctions

    Russell Duncan

    The Sarbanes-Oxley Act and the rules under which the Public Company Accounting Oversight Board's Division of Enforcement and Investigations must act create an unusual process that greatly benefits those being investigated, say Russell Duncan and Joel Schwartz, partners at Shulman Rogers Gandal Pordy & Ecker PA and former PCAOB assistant directors.

  • Storytelling In The Age Of Emojis

    Adam Bloomberg

    Being a truly effective trial attorney is as much about building a case as it is about playing to your audience of jurors. So if jurors are constantly relying on pictures to connect outside the courtroom, it is time to begin speaking to them in this new language, says Adam Bloomberg of Litigation Insights Inc.

  • FCPA Disgorgement: Putting SEC To Its Burden Of Proof

    Iris Bennett

    In some Foreign Corrupt Practices Act cases where the U.S. Securities and Exchange Commission takes the view that disgorgement is warranted, there may be valid arguments to raise with the agency that causation between the illicit conduct and the ill-gotten gains is not satisfied, say attorneys with Smith Pachter McWhorter PLC.

  • Series

    15 Years Of SOX: A Look At Compliance Costs And More

    Keith Kawashima

    While many organizations are at a mature level with regard to their overall Sarbanes-Oxley compliance programs, new accounting standards, business process outsourcing, cybersecurity and a bigger focus on precision have required an increasing investment of resources, says Keith Kawashima of Protiviti Inc.

  • Series

    15 Years Of SOX: A Significant Footprint In US And Abroad

    Paul Lanois

    Sarbanes-Oxley has been quite successful if one of its purposes was to screen out marginal foreign firms. In addition, the drop in the number of publicly listed companies may actually be a blessing in disguise, says Paul Lanois, senior legal counsel at Credit Suisse Group AG.

  • How To Prioritize Your Law Firm's Crisis Response Plan

    Michelle Samuels

    If the media is going to cover your law firm’s crisis, they are going to cover it with or without your firm’s input. But your involvement can help shape the story and improve your firm’s image in the public eye, says Michelle Samuels, vice president of public relations at Jaffe.