White Collar

  • April 25, 2017

    Posner Calls Fraudster's Bid For Resentencing 'A Loser'

    An Illinois man challenging his 10-year prison sentence for embezzling over $13 million from his small credit union is facing an uphill battle after the Seventh Circuit indicated that it wasn’t buying calls to remand the case because some of the lenders supposedly knew about fake loans the defendant created, with Circuit Judge Richard Posner calling the argument “a loser.”

  • 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.

Expert Analysis

  • Spotlight On Corruption-Related Successor Liability Risks

    Jason Gray

    Several recent cases highlight the risks of successor liability when companies acquire targets that have been engaged in violations of anti-corruption laws. These cases reinforce the benefits of both pre-acquisition due diligence and timely post-acquisition review, including potentially avoiding corruption-related charges altogether, say Jason Gray and Bethany Hipp of Allen & Overy LLP.

  • Satire

    A Law Firm Ranking Model By 'Fake News & Distorted Reports'

    Alan B. Morrison

    Suffering from law firm ranking fatigue? Bewildered by the methodologies? If so, you're in good company. Alan Morrison, associate dean for public interest and public service law at George Washington University Law School, wonders just how far law firm ranking efforts may go.

  • Series

    Evaluating FCPA Pilot Program: A Shift In Company Thinking?

    Mona Patel

    For a company considering whether to take the affirmative step of voluntary self-disclosure under the Foreign Corrupt Practices Act pilot program, it is difficult to ascertain precisely what could account for the difference between obtaining a declination, a 50 percent reduction in potential penalties or a 30 percent reduction in potential penalties, says Mona Patel of Covington & Burling LLP.

  • Series

    Evaluating FCPA Pilot Program: Declinations On The Rise

    Marc Alain Bohn

    Although the self-disclosure of potential Foreign Corrupt Practices Act violations always carries with it the risk of potential enforcement, the FCPA pilot program has been accompanied by a notable uptick in declinations by the U.S. Department of Justice. We have identified a record 15 DOJ declinations in 2016, along with another six DOJ declinations in 2017 to date, say Marc Alain Bohn and James Tillen of Miller & Chevalier Chtd.

  • Taxpayers Face Offshore Account Disclosure Dilemma

    Kaitlyn Gardner

    The IRS has two choices for taxpayers to voluntarily disclose and pay taxes on offshore assets: a more permissive but more expensive and time-consuming compliance program, and a second option with lower penalties and easier filing, but stricter qualifications. With no definitive guidance, this choice is a risky gamble, say Kaitlyn Gardner and Christopher Karachale of Hanson Bridgett LLP.

  • Decline In DOJ Antitrust Division Fines Is Likely Temporary

    Westrick_Tim_Treliant.jpg

    Criminal antitrust enforcement may appear to have dropped off in fiscal year 2016, if fines assessed on companies and executives are any measure. However, a deeper look provides a more accurate picture. In fact, the stage could be set for total fines to again surpass $1 billion in FY2017, says Timothy Westrick, a senior manager at Treliant Risk Advisors and former federal prosecutor.

  • When Arbitration Clauses Collide With Bankruptcy Laws

    Laura M. Fontaine

    A bankruptcy trustee or a debtor in possession has several specific powers that frequently come into conflict with a nondebtor’s desire to invoke an arbitration clause. The Fifth Circuit’s recent decision in Janvey v. Alguire pushed back on a trend of expanding the nonsignatory related parties that can be swept into arbitration, says Laura Fontaine of Gruber Elrod Johansen Hail Shank LLP.

  • HHS Has Its Eye On Medicaid Personal Care Service

    Melissa L. Jampol

    Speaking at a conference last week, the chief counsel for the U.S. Department of Health and Human Services Office of Inspector General stated that home health-related services currently are one of the two top anti-fraud priorities for the agency. In particular, a new area that is receiving increased scrutiny is the use of Medicaid personal care service, say attorneys with Epstein Becker & Green PC.

  • Crowdfunding For Legal Cases: 5 Trends Reshaping Justice

    Julia Salasky

    Most people have never had an opportunity to personally take part in a legal case that directly challenges laws or policies they don’t agree with. Now that crowdfunding is available for legal cases, people can engage directly with legal change in the community and be a check on the powerful, says Julia Salasky, CEO of CrowdJustice.

  • Opinion

    ABA Needs A New Model Legal Ethics Rule

    Kevin L. Shepherd

    Perhaps lost in the presidential post-election tumult was a report issued in late 2016 by an international body evaluating U.S. compliance with anti-money laundering and counter-terrorist financing standards. Considering repeated criticisms of the legal profession, the American Bar Association should seriously consider a new model legal ethics rule, says Kevin Shepherd of Venable LLP.