White Collar

  • March 16, 2017

    ‘Greed And Fraud’ At Deadly Pharmacy, Murder Trial Jury Told

    A Massachusetts pharmacist’s shocking and extreme disregard for human lives caused the worst pharmaceutical disaster in American history and the deaths of 25 of people during the 2012 meningitis outbreak, federal prosecutors told a jury in closing arguments in Boston Thursday.

  • March 16, 2017

    Pittsburgh Woman Cops To Embezzling $13M From Own Co.

    A Pennsylvania woman pled guilty in federal court Wednesday to charges that she siphoned $12.97 million from her company over 16 years in one of the biggest employee embezzlement cases in state history.

  • March 16, 2017

    Trump Spares Treasury Financial Crimes Units From Cuts

    President Donald Trump’s Thursday budget blueprint proposes a raft of spending cuts, but anti-terror and financial security efforts at the U.S. Department of the Treasury appear to have been spared from reduced funding.

  • March 16, 2017

    Fla. Couple Cops To Insurance Fraud At Sober Homes

    A Florida husband and wife who own several sober homes and drug treatment facilities pled guilty Wednesday to running a health care fraud scheme in which they billed insurers for residents who didn’t need or receive care or were actively using drugs and paid kickbacks to residents and owners of other homes.

  • March 16, 2017

    De Blasio Will Not Face Federal Fundraising Charges In NY

    The acting top Manhattan federal prosecutor on Thursday announced that New York Mayor Bill de Blasio will not face federal criminal charges following an investigation into claims of fundraising misconduct.

  • March 16, 2017

    Businessman Gets Nearly 20 Years For $14M Ponzi Scheme

    A Mexican businessman who told investors he was a licensed investment broker and energy market expert was sentenced by a federal judge in Texas on Wednesday to 19.5 years in prison for perpetrating a $14 million Ponzi scheme that defrauded more than 100 investors.

  • March 15, 2017

    Yahoo Hack Charges Boost Feds' Profile For Future Victims

    Federal prosecutors on Wednesday showcased their skills and appetite for tackling nation-state cyberthreats with an unprecedented indictment of Russian intelligence officials on charges of stealing data from at least 500 million Yahoo accounts, a case that may make businesses more willing to cooperate with government investigations, attorneys say.

  • March 15, 2017

    Ex-EDNY Prosecutors In Running For US Atty Amid Vacancy

    While all eyes may be on Manhattan, things are getting interesting in New York's Eastern District, where several attorneys, including a handful of alumni, are in the running to take over as U.S. attorney after Robert Capers was pushed out along with other holdovers from the Obama administration. Here, Law360 looks at four potential candidates for the post.

  • March 15, 2017

    For Caterpillar, Federal Raid May Mean More Than Tax Trouble

    The IRS has challenged six years of tax returns filed by Caterpillar, but tax troubles may be the least of the construction equipment giant’s problems after a massive surprise raid by federal enforcement authorities signaled the possibility of more serious financial crimes.

  • March 15, 2017

    Paxton Prosecutors, Defense Trade Barbs Over Trial Delay

    Prosecutors in the felony securities fraud case against Texas Attorney General Ken Paxton on Wednesday accused him of unleashing “10 pages of sound and fury” to distract from their request to delay his forthcoming trial until they are paid for their work.

  • March 15, 2017

    3rd Circ. Orders Redo Of CPA's Tax Fraud Prison Sentence

    The Third Circuit on Wednesday vacated a certified public accountant's four-year prison sentence for his scheme to pocket money from bogus tax refunds he got for his clients, ruling that a New Jersey federal court failed to address a dispute over the government's tax loss calculation.

  • March 15, 2017

    Ex-Oppenheimer Adviser Gets 6 Months For Insider Trading

    A former investment adviser for Oppenheimer & Co. Inc. on Wednesday was handed a six-month prison sentence by a Manhattan federal judge on insider trading charges for using information gleaned from a friend and Pfizer Inc. employee to purchase stock in acquisition targets.

  • March 15, 2017

    Gambler Just A Cheater, Feds Tell Insider Trading Jury

    Prosecutors told a New York federal jury on Wednesday that greed drove prominent gambler Billy Walters to use insider information to make millions in the stock market off inside information from Dean Foods chairman Thomas Davis, saying Walters was just a cheater trying to look like a genius.

  • March 15, 2017

    Sens. Won't Say If FBI Has Launched Trump Russia Probe

    Lawmakers on Wednesday following a meeting with FBI Director James Comey refused to reveal whether the FBI is investigating potential links between campaign staff for President Donald Trump and Russian officials, as House Intelligence Committee leaders pushed back against Trump’s claims that he had been wiretapped by the previous administration.

  • March 15, 2017

    EB-5 Fraudster Bilked Foreign Investors Of $14.5M, SEC Says

    The U.S. Securities and Exchange Commission on Wednesday accused a Washington, D.C.-based development company and its president of using the EB-5 immigrant investor program to scam foreign investors out of $14.5 million.

  • March 15, 2017

    Bank Failed To Protect Against Check Scam, Law Group Says

    Cornerstone Law Group launched a lawsuit against the Bank of San Francisco on Wednesday in California federal court accusing it of failing to protect against a cashier’s check-counterfeiting scam stemming from a client’s lawful termination suit, which caused the group to lose more than $230,000.

  • March 15, 2017

    Insurers Escape Coverage For Business Owners’ Arson

    Two insurers for businesses whose building was damaged by arson committed by their owners don’t have to cover claims resulting from the fire because both policies had explicit exclusions for criminal acts, a federal court in Tennessee ruled Wednesday.

  • March 15, 2017

    Search For Chicago's New US Atty Complicated From Start

    In the days since the forced resignation of Chicago’s U.S. Attorney Zachary Fardon, questions about who will take his place and uncertainty about how the selection process will play out under the new administration have dominated the conversation in the city’s legal community. Here, Law360 looks at some of the complications already bogging down the process, as well as potential candidates to fill the vacancy.

  • March 15, 2017

    Ex-Fugitive Tax Fraudster's Sentence Upheld At 6th Circ.

    The Sixth Circuit on Wednesday upheld a 12-year prison sentence for a former fugitive who allegedly filed more than 150 fraudulent tax returns in an elaborate identity theft scheme, rejecting the man's claims that the lower court should have swapped out his court-appointed standby counsel.

  • March 15, 2017

    Madoff Trustee Wants Transfer Clawback Fight In 2nd Circ.

    The trustee for Bernie Madoff’s fraudulent investment firm wants the Second Circuit to determine if he can claw back Ponzi scheme proceeds transferred from foreign Madoff feeder funds, asking a New York bankruptcy judge on Tuesday to order a direct appeal after nearly 100 adversary suits were tossed.

Expert Analysis

  • Trends To Watch In DOJ Cartel Investigations This Year

    Lauren E. Briggerman

    For the first time in almost a decade, the U.S. Department of Justice's Antitrust Division does not appear to have a significant, multijurisdictional investigation to occupy its time and resources. As a result, the Antitrust Division’s focus in 2017 likely will be on smaller, domestic investigations, says Lauren Briggerman of Miller & Chevalier Chtd.

  • How Stein Could Transform Sentencing For Securities Fraud

    Jason P. Hernandez

    The Eleventh Circuit's recent decision in U.S. v. Stein gives prosecutors and defense counsel strong incentives to think carefully about their sentencing strategy in securities fraud cases. If the government seeks to rely on specific circumstantial evidence of widespread investor losses, sentencing hearings could be transformed from streamlined proceedings to complex mini-trials, say Jason Hernandez and Grace Mead of Stearns Weaver... (continued)

  • The End Of SEC's Payment Disclosure Rule

    Nicolas Grabar

    The Senate on Friday passed a resolution under the Congressional Review Act that disapproves the U.S. Securities and Exchange Commission’s rule on resource extraction payments. The result for affected issuers is clear — the existing rule is gone, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • The 5th Amendment's Essential Role In Offshore Audits

    Michael DeBlis III

    The Fifth Amendment is normally associated with criminal proceedings and the prohibition against self-incriminating testimony. However, its protections also apply in some other matters, such as contempt of Congress. More importantly for tax law purposes, there is a documentary production privilege, and there is a trio of cases that flesh out this concept, says Michael DeBlis III of DeBlis Law.

  • Can Federal Agencies Reverse Course Under Trump?

    Steven D. Gordon

    The next four years will see litigation that explores the extent to which the Trump administration can alter or reverse the regulatory policies of the Obama administration without having to enact new legislation. The U.S. Supreme Court has recently made clear that there are fewer limits to an agency changing course than had previously been thought, says Steven Gordon of Holland & Knight LLP.

  • Defining Corporate Criminal Liability For Insider Trading

    John Anderson

    The current enforcement regime is absurdly overbroad in that it affords no principled guarantee to corporate victims of insider trading that they will not be indicted or punished for the crimes perpetrated against them. However, there is one form of derivative corporate criminal liability that does make sense, says John Anderson of Mississippi College School of Law.

  • Opinion

    The Myth Of The Forceful Mediator

    Jeff Kichaven

    When mediators rely on force to get cases settled, it doesn’t work. It’s time to suggest more productive ways for top-gun litigators and top-flight mediators to engage, says Jeff Kichaven of Jeff Kichaven Commercial Mediation.

  • How The Cayman Islands Updated Its Confidentiality Law

    Andrew Bolton

    Last year, as part of a move toward transparency, cooperation and information-sharing, the Cayman Islands replaced its 40-year-old confidentiality law with a new statute. The key change is that disclosure of confidential information is no longer a criminal offense; instead, liability is returned to the realm of common law and rules of equity, say Andrew Bolton and Jane Hale of Appleby.

  • A Look Back At A Year Of Record-Setting HIPAA Enforcement

    David P. Saunders

    Last year saw unprecedented levels of enforcement actions, fines and, as a result, aggregate Health Insurance Portability and Accountability Act penalties being assessed. This year, the question on many HIPAA-watchers' minds, however, is whether 2016 is the “new normal” or if it was aberrational, says David Saunders of Jenner & Block.

  • Prosecution Of Corporate Execs: The Latest Developments

    Dawn E. Murphy-Johnson

    During the last quarter of 2016, the U.S. Department of Justice announced several significant guilty pleas and indictments against corporate executives that may provide some clues about where the prosecution of executives is headed this year, say attorneys with Miller & Chevalier Chtd.