White Collar

  • April 14, 2017

    Longtime MoFo, Pomerantz Attys Launch Boutique Firm

    Three former BigLaw partners have started a boutique Bay Area firm specializing in tax, intellectual property, white collar and consumer protection law.

  • April 14, 2017

    Snarky Judge In Ex-JPM Exec Case Not Going Anywhere

    A cheeky New York federal judge refused Friday to take himself off a case brought by a former JPMorgan Chase & Co. executive who claims the bank fired her for flagging possible fraud, saying his wisecracks don’t rise to the level of bias.

  • April 14, 2017

    Cos. Have More Doubts About Antitrust Leniency Benefits

    As countries around the world are adding and beefing up antitrust leniency programs, in which companies can receive immunity from fines and prosecution in exchange for cluing in governments to anti-competitive behavior, businesses are questioning whether the programs are worth the sometimes enormous time and resources involved.

  • April 14, 2017

    3rd Circ. Backs 12-Year Sentence In Oil Investment Scheme

    The Third Circuit on Friday upheld a 12-year prison sentence for a Pennsylvania man who was accused of defrauding investors with false claims of owning more than a billion dollars worth of oil and attempting to file for bankruptcy with false petitions.

  • April 14, 2017

    FinCEN Wins 3rd Try At Freezing Tanzanian Bank Out Of US

    A D.C. federal judge on Friday granted the Financial Crimes Enforcement Network’s bid to cement the exclusion of a Tanzanian bank from the U.S. financial system over money laundering allegations, saying that after two prior freezes of the rule, “the third time really is the charm.“

  • April 14, 2017

    Philly Atty, Ex-Broker, AML Pro, CEO Charged With $2M Fraud

    Brooklyn federal prosecutors on Friday charged a CEO of a company supposedly developing a marijuana breathalyzer, a Philadelphia attorney, a barred broker and an anti-money laundering consultant of teaming up to commit a $2 million market manipulation and launder the proceeds.

  • April 14, 2017

    Wal-Mart Fights Investor Bid For Privileged Corruption Docs

    Wal-Mart Stores Inc. asked an Arkansas federal judge on Thursday to refuse investors' request for secret documents related to an internal corruption probe at the retailer's Mexican unit, saying the frustrated plaintiffs are trying to “piggyback” on work Wal-Mart's attorneys did in anticipation of lawsuits.

  • April 14, 2017

    HSBC To Pay $2.1M To Settle Small-Biz Loan Fraud Suit

    An HSBC Bank PLC unit has agreed to pay over $2.1 million to settle a qui tam False Claims Act suit alleging the bank tried to get reimbursed for loans made through a federal small-business lending program while knowing they were based on false information, Manhattan federal prosecutors said Friday.

  • April 14, 2017

    Ex-Sutherland Partner Trial Delayed For Competency Ruling

    The government’s prosecution of an ex-Sutherland Asbill & Brennan attorney who allegedly stole $2 million from an elderly client was put on hold Thursday, as a Georgia federal court gave 76-year-old Bennett Kight 30 days to prove claims that he’s unfit to stand trial because he suffers from dementia.

  • April 14, 2017

    Rakoff Turns Aside Ex-Herrick Tax Partner's Dismissal Bid

    Manhattan U.S. District Judge Jed S. Rakoff has denied a motion by former Herrick Feinstein LLP tax partner Harold Levine to dismiss criminal charges of obstructing the IRS and pocketing more than $3 million of fraudulent income.

  • April 14, 2017

    5th Circ. Affirms 3-Year Sentence For Tax Fraudster

    The Fifth Circuit on Thursday upheld a 36-month prison sentence for the owner of a salon equipment company who copped to a tax fraud charge, finding that a Texas federal court had backed up its conclusion that the owner also likely structured his bank deposits to avoid reporting requirements.

  • April 14, 2017

    Feds Net $2M From Conspirator In $36M Housing Scheme

    A Florida federal judge signed off on a $2 million forfeiture by the former CEO of Miami-based Carlisle Development Group accused of defrauding the government of $36 million meant for building low-income housing.

  • April 14, 2017

    Convicted Ex-Mass. Lawmaker Indicted Again For Obstruction

    A former Massachusetts state representative was charged Thursday with hiding $2.5 million in cash during his sentencing for embezzling hundreds of thousands dollars in federal transportation funds.

  • April 14, 2017

    Indian National Pleads Guilty To Massive Call Center Fraud

    An Indian national who was among 55 individuals indicted in a massive call center fraud, involving impersonating tax and other officials to extract hundreds of millions of dollars from victims nationwide, has pled guilty to his role and agreed to be deported post-sentencing, federal prosecutors said Friday.

  • April 14, 2017

    Drug Co. Hires Ex-SDNY Brass To Fight $181M Forfeiture

    Drug restocking company Guaranteed Returns and two of its executives have hired Sharon Cohen Levin, a WilmerHale attorney who formerly oversaw asset recovery in the Southern District of New York for 19 years, to contest prosecutors' $181 million forfeiture attempt after their conviction.

  • April 14, 2017

    Baxter Hit With DOJ Subpoena Over Saline Shortages

    Federal antitrust prosecutors are investigating Baxter International over saline shortages, the health care company said Friday, adding attention to an issue that has already drawn questions from a state attorney general and sparked lawsuits.

  • April 14, 2017

    Hedge Fund Adviser Ordered To Pay $27M For Ponzi Scheme

    A Connecticut federal judge has granted a bid by the U.S. Securities and Exchange Commission to force convicted Ponzi schemer Francisco Illarramendi to pay almost $27 million, saying his guilty plea in a related criminal case supports the SEC’s victory in its civil suit.

  • April 14, 2017

    Maynard Cooper Nabs Former US Atty In Alabama

    The former U.S. Attorney for the Southern District of Alabama has joined local firm Maynard Cooper & Gale PC as a partner in its litigation and white collar practices, the firm announced on Friday.

  • April 14, 2017

    SEC Sniffs Out $1M Of Shady General Communication Trades

    A Manhattan federal judge froze assets in two accounts that the U.S. Securities and Exchange Commission said Friday belong to an unknown trader or traders who took $1 million in profit on insider knowledge of Liberty Interactive Corp.'s $1.12 billion purchase of General Communication Inc.

  • April 14, 2017

    Arpaio Seeks Sessions' Testimony In Contempt Trial

    Embattled former sheriff Joe Arpaio, facing contempt charges for allegedly flouting orders to stop profiling Latinos during traffic stops, has added a high-profile name to his witness list: Attorney General Jeff Sessions.

Expert Analysis

  • Don't Bet On Unsupported Worldwide Order To Secure Assets

    Lincoln Caylor

    The approach by the English Court of Appeal in Saleh v. U.K. Serious Fraud Office is welcome from an asset-recovery perspective. Parties seeking to freeze or seize assets in a foreign jurisdiction should not be hamstrung by a blindly made order rendered without evidence or argument, says Lincoln Caylor of Bennett Jones LLP.

  • Settlement Strategy: What Does The Client Really Want?

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    The best outside counsel think like the client. That includes understanding the client’s perspectives and goals with regard to reaching a settlement — because “good results” mean different things for different clients. Outside counsel must ask themselves the right questions, and know the answers, to shape a client-focused settlement strategy, say Kate Jackson of Cummins Inc. and Patrick Reilly of Faegre Baker Daniels LLP.

  • Uptick In Coordinated US-Brazil Anti-Corruption Enforcement

    Jason Jones

    The coordinated efforts of U.S. and Brazilian enforcement authorities were on display recently in a number of major corporate anti-corruption resolutions. Corporations doing business from, or within, Brazil must be mindful of a few key cross-border considerations, say attorneys with King & Spalding LLP.

  • In The Associate Lateral Market, All Law Firms Are Not Equal

    Darin R. Morgan

    When associates contemplate a potential lateral move, there is a common misconception that all law firms are the same. It may seem that one law firm is just like the next, but if you dig deeper, you may discover unique attributes at some firms that may be more appealing and improve your professional satisfaction significantly, says Darin Morgan of Major Lindsey & Africa.

  • Export Control Enforcement In The Wake Of ZTE Resolution

    Michael Casey

    The $892 million combined penalty against Zhongxing Telecommunications Equipment Corp., which is subject to court approval and would balloon to $1.19 billion if ZTE violates the terms of its settlement agreements, represents the largest fine and forfeiture imposed to date in an export control case. Attorneys with Ropes & Gray LLP review the settlements and discuss the implications for future sanctions and export control enforcement.

  • Whistleblower Protections Vs. Confidentiality Obligations

    Debra S. Katz

    The case law related to confidential, proprietary or potentially privileged information that supports whistleblowers’ legal claims is not uniform. However, two recent decisions from California federal courts demonstrate that courts are willing to apply a proper balancing of interests when issues of confidentiality obligations arise in whistleblower retaliation cases, say Debra Katz and Aaron Blacksberg of Katz Marshall & Banks LLP.

  • Reflections From A Mock Trial

    Lora Brzezynski

    Nerves were high on the day of the trial. While technically client interests were not at stake, our reputations were still on the line. We were not only presenting our case in front of our newly acquainted colleagues, but also for partners at our firm, expert witnesses, federal judges and in-house counsel — potential employers and clients, say attorneys with Dentons, sharing their recent mock trial experience.

  • UK Leads Anti-Corruption Enforcement: Implications Of UWOs

    Ian Hargreaves

    As it is unlikely there will be significant opposition to the Criminal Finances Bill in the House of Lords, it is likely to become law during the mid to late part of 2017. "Unexplained wealth orders" will be a new and powerful tool available to U.K. criminal authorities to seize assets, says Ian Hargreaves of Covington & Burling LLP.

  • Risk Is Expanding Under The Kingpin Act

    Timothy A. Westrick

    There is a common misperception that only financial institutions are subject to economic sanctions compliance. However, companies in other markets can also find themselves at risk. Recent Foreign Narcotics Kingpin Designation Act enforcement actions against insurance companies send a cautionary signal, says Timothy Westrick, a senior manager at Treliant Risk Advisors and former federal prosecutor.

  • OFAC Takes Sanctions Jurisdiction Into Uncharted Waters

    Edward Krauland

    The Office of Foreign Assets Control’s recent finding that a Taiwan-based shipping company violated sanctions regulations has led to quite a bit of speculation about whether OFAC has asserted a broad new theory of jurisdiction. Bankruptcy proceedings, as opposed to other types of disputes in U.S. district court, have particular elements that appear to have been relevant to OFAC’s finding of jurisdiction, say attorneys with Steptoe & Johnson LLP.