White Collar

  • June 23, 2017

    Philly Nonprofit Boss Convicted In $1M Fraud Scheme

    The politically connected head of a Philadelphia nonprofit mental health clinic was convicted on federal charges on Friday for misappropriating what prosecutors claim may have been up to $1 million in funds from the facility.

  • June 23, 2017

    International Arrest Warrants Out For Ex-VW Execs

    U.S. authorities have issued international arrest warrants for five ex-Volkswagen managers under indictment in connection with the automaker’s emissions cheating scandal, a German news outlet reported on Thursday.

  • June 23, 2017

    DOJ Must Show Heir-Tracker Co. Hurt Competition

    A Utah federal judge on Thursday found the government must prove a Utah company that tracks down lost and unknown heirs actually harmed competition with an alleged antitrust conspiracy to allocate customers within the industry.

  • June 23, 2017

    Ex-BigLaw Atty Taps Proskauer For Post-Verdict Defense

    Robert Schulman, the former Hunton & Williams LLP patent lawyer convicted of insider trading on a Pfizer deal, has tapped a Proskauer Rose LLP appellate partner for his post-verdict defense, a Thursday filing said.  

  • June 23, 2017

    Ex-Lawmaker Cops To Taking Bribes To Fight EPA Cleanup

    A former Alabama state legislator agreed on Thursday to plead guilty to taking bribes from an executive at coal business Drummond Company Inc. and a local lawyer to oppose an Environmental Protection Agency cleanup plan that could cost the company millions.

  • June 23, 2017

    Ex-Tax Court Judge Gets 3 Years For Tax Fraud

    A former U.S. Tax Court judge was sentenced Thursday to nearly three years in prison after she and her husband pled guilty to conspiring to cheat on their taxes during a 10-year stretch, including understating their taxable income by $1 million.

  • June 23, 2017

    2nd Circ. Again Refuses To Let Ex-Atty Skate On Fraud Rap

    The Second Circuit on Friday rebuffed the latest long-shot bid from a disbarred attorney to void his 12-year-old fraud conviction for aiding an advance-fee scheme, and warned of sanctions if he persists with future appeals.

  • June 23, 2017

    Engineer Gets Time Served For Military Documents Theft

    An engineer who pled guilty in December to economic espionage and attempted export of defense articles to China without a license for taking copies of military aircraft designs to China was sentenced on Thursday in Connecticut federal court to time served, after spending 30 months behind bars.

  • June 23, 2017

    Bitcoin Case Defendant Says No Actual Loss To Victim Banks

    A tech expert who was convicted in a scheme to co-opt a credit union to process illegal bitcoin dollar exchanges told a New York federal judge on Friday that the government’s loss calculation for sentencing is “outrageously overblown” because none of the victim banks lost money or even risked losing money.

  • June 23, 2017

    Rookie Judge Faces 'Trial By Fire' In Texas AG's Fraud Case

    The newly elected Harris County district judge who is now overseeing the felony securities fraud case against Texas Attorney General Ken Paxton is in store for a “trial by fire” that will force the rookie jurist to navigate choppy political waters and unclear law on the charges at hand, experts say.

  • June 23, 2017

    SFO Drops Probe Into BOE Crisis-Era Liquidity Auctions

    Britain’s Serious Fraud Office said on Friday that it has closed its two-and-a-half-year criminal investigation into the conduct of the Bank of England when it pumped liquidity into the financial system at the start of the financial crisis, after it found no evidence of criminal action.

  • June 23, 2017

    Feds Seek 35 Years For Pharmacist In Meningitis Outbreak

    Federal prosecutors told a Massachusetts federal judge that a pharmacist convicted of racketeering for his role in the deadly 2012 meningitis outbreak deserves to be jailed for 35 years, a sentence the government says is merited by the enormous human devastation that he left in his wake.

  • June 23, 2017

    Ex-CEO Of Pokeware Pleads Guilty To $6M Investor Fraud

    The founder and former CEO of Pokeware on Thursday pled guilty in a New York federal court to defrauding investors of more than $6 million, kiting checks to dupe them into believing the company had more assets than it did and then converting investors’ money for her personal use, prosecutors said.

  • June 22, 2017

    Feds, Shkreli Trade Claims Of Dubious Witness Tricks

    A federal prosecutor on Thursday told a New York federal judge that a relative of former pharmaceutical executive Martin Shkreli had contacted a witness and implied they should not testify, while Shkreli's lawyers warned that the government may be scaring off defense witnesses from the securities fraud trial.

  • June 22, 2017

    Inside Trader Must Shell Out $1.6M For Role In Sanofi Fraud

    A Georgia federal judge ordered an insurance broker who made $500,000 from a tip about a Sanofi-Aventis SA acquisition to pay $1.6 million in disgorgement and penalties on Thursday, saying his “greed was overwhelming” but did not justify the maximum penalty of triple his profits.

  • June 22, 2017

    Chicago Man Charged In $10M Reverse Mortgage Plot

    A Chicago loan originator pled not guilty Wednesday to charges he ran a lengthy and complex mortgage fraud scheme that involved conning elderly victims out of an estimated $10 million in equity in their homes.

  • June 22, 2017

    Investors Call Coworking Startup Bar Works A Ponzi Scheme

    Bar Works, a startup that purports to be in the shared-workspace business, is now the subject of at least two lawsuits from investors who call it a multimillion-dollar Ponzi scheme.

  • June 22, 2017

    US PE Co. Hits Ex-Formula 1 Boss With UK Bribe Claim

    A U.S. private equity firm has claimed in British court that former Formula One racing boss Bernie Ecclestone bribed a German bank official so that the financial institution would sell its stake in F1 to a competing private equity company, according to U.K. court documents seen by Law360 on Thursday.

  • June 22, 2017

    REIT Ex-CFO's Bonus Could Hit 8 Times Salary, Feds Say

    Federal prosecutors on Friday showed jurors in the fraud trial of ex-American Realty Capital Properties Chief Financial Officer Brian S. Block a salary schedule that would grant him eight times his $500,000 salary in cash and equity as a bonus that depended in part on the value of a key earnings metric with which he is accused of fiddling.

  • June 22, 2017

    Ex-Energy Co. CEO Gets 2 Years For Embezzlement Scheme

    The former CEO of a Texas energy company was sentenced Thursday to two years in prison, after he admitted to embezzling at least $450,000 from the company through faked invoices and reimbursements for personal expenses.

Expert Analysis

  • Due Diligence From The Lateral Partner’s Perspective

    Howard Flack

    Lateral candidates looking to make the last — or perhaps only — move of their career cannot afford to just stand by and let a law firm’s vetting process unfold on its own, says Howard Flack, a partner at Volta Talent Strategies who previously led lateral partner recruiting and integration at Hogan Lovells.

  • Lateral Partner Due Diligence: Where Should A Firm Begin?

    Howard Flack

    One frequently hears from leading malpractice insurers that one of the highest risk categories for law firms is that of lateral partners not sufficiently vetted during the recruitment process, says Howard Flack, a partner at Volta Talent Strategies Inc. who previously led lateral partner recruiting and integration at Hogan Lovells.

  • SEC Disgorgement Limits Should Apply To FERC And CFTC

    Daniel Mullen

    The U.S. Supreme Court recently ruled that U.S. Securities and Exchange Commission enforcement actions requiring disgorgement of ill-gotten gains are subject to a five-year statute of limitations. The same principles appear to apply equally to disgorgement claims by the Federal Energy Regulatory Commission and the U.S. Commodity Futures Trading Commission, say Daniel Mullen and Charles Mills of Steptoe & Johnson LLP.

  • Inside The CFTC's Enhanced Whistleblower Protections

    Lewis Csedrik

    The U.S. Commodity Futures Trading Commission recently adopted amendments that strengthen anti-retaliation protections for whistleblowers by expanding the CFTC’s enforcement authority. These amendments raise several questions for employers engaged in derivative markets, say members of Morgan Lewis & Bockius LLP.

  • What Cos. Need To Know About The UK Criminal Finances Act

    Neil Gerrard

    The U.K.'s Criminal Finances Act 2017 creates a new offense of failure to prevent the facilitation of tax evasion. The extraterritorial effect of the offense means that entities doing business in the U.K. will be criminally liable even if an associated person commits tax evasion in another jurisdiction. The potential impact is far-reaching and burdensome, say attorneys with Dechert LLP.

  • What Kokesh V. SEC Means For Enforcement Actions

    Mary Jo White

    According to members of Debevoise & Plimpton — including former SEC Chair Mary Jo White — the Supreme Court’s ruling in Kokesh significantly reduces the U.S. Securities and Exchange Commission's leverage in settlement discussions for certain types of cases, among other impacts.

  • High Court Puts An End To Unfair Asset Forfeiture

    Harry Sandick

    In a unanimous decision this week, the U.S. Supreme Court held that the practice of imposing joint and several forfeiture liability is a step too far, endorsing what had been the minority view among federal courts of appeals. The Honeycutt ruling places an important limitation on Section 853 liability, say Harry Sandick and Joshua Kipnees of Patterson Belknap Webb & Tyler LLP.

  • In Defense Of Subsuming The Serious Fraud Office

    Jonathan Peddie

    Last month, the U.K.'s Conservative party announced its intention to incorporate the Serious Fraud Office into the National Crime Agency. There has been no shortage of media comment condemning the proposal, but the time has come to put the SFO's armory alongside the other agency's strengths so that they can tackle problems together, says Jonathan Peddie of Baker & McKenzie LLP.

  • Weekly Column

    Innovating For Wise Juries: Setting Trial Time Limits

    Stephen Susman

    This is the second in a series of articles discussing ideas proposed by the NYU School of Law Civil Jury Project to resuscitate the American jury trial. In this article, Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman argue for setting early and strict time limits in civil jury trials.

  • Monthly Column

    Inside The 1st Muni Bond Criminal Case

    Daniel Wenner

    What led to the Ramapo Local Development Corporation executive director's guilty plea and the Ramapo town supervisor's conviction in the first-ever fraud prosecution over municipal bonds? Let's just say it had a bit to do with ignoring the will of the voters and a little to do with a habitat for rattlesnakes, says Daniel Wenner of Day Pitney LLP.