White Collar

  • May 10, 2018

    Giuliani Resigns From Greenberg Traurig Amid Trump Work

    Former federal prosecutor and New York City mayor Rudy Giuliani has resigned from Greenberg Traurig LLP just weeks after he joined President Donald Trump’s legal team, the law firm confirmed on Thursday.

  • May 10, 2018

    RBS Says US Deal Opens Way To Dividends, Gov't Stock Sales

    The Royal Bank of Scotland said Thursday its $4.9 billion misconduct settlement with U.S. authorities clears the way for the U.K. government to begin selling off its RBS stock holding and raises hopes that the bank will resume paying a dividend after a 10-year hiatus.

  • May 9, 2018

    Man Stole Friend's Warhol Prints, Sold Fakes, Feds Say

    Federal agents on Wednesday arrested a Massachusetts resident they believe stole several pieces of acclaimed artwork from a friend in South Korea, including two Andy Warhol silkscreen prints, then copied and sold them in a heist that culminated in one count of wire fraud in Massachusetts federal court.

  • May 9, 2018

    DOJ Sues To Stop Clinics' Unapproved Stem Cell Treatments

    The U.S. Department of Justice is seeking to enjoin clinics that it says are advertising stem cell treatments without approval from the U.S. Food and Drug Administration, hitting them with lawsuits in California and Florida federal court Wednesday.

  • May 9, 2018

    Ex-Valeant Worker's Emails Show Double-Dealing, Jury Hears

    A former mergers and acquisitions official at Valeant Pharmaceuticals International Inc. took the stand Wednesday to walk jurors through dozens of emails that appeared to show his colleague Gary Tanner helping Philidor Rx Services negotiate against his own employer in a $100 million deal.

  • May 9, 2018

    5 Names To Watch In Race To Be Next New York AG

    The sudden downfall of former New York Attorney General Eric Schneiderman has opened a frenzy of speculation as to who’s in the running to become the Empire State’s next top cop, and the answer could prove historic if it leads to the first woman or minority to be elected to the powerful post.

  • May 9, 2018

    RBS, DOJ Near $4.9B Deal Over Potential RMBS Civil Claims

    The Royal Bank of Scotland has reached a tentative deal with the U.S. Department of Justice, reportedly worth $4.9 billion, to settle potential civil claims over the bank’s structuring and sale of residential mortgage-backed securities before the financial crisis, the agency confirmed Wednesday.

  • May 9, 2018

    Ex-NJ Broker Convicted Of Ripping Off Clients

    A former New Jersey stockbroker has been convicted of duping old clients into giving him more than $400,000 to invest on their behalf and then depositing the money into his newly formed trading company to use for shopping and his own day-trading activities.

  • May 9, 2018

    Treasury Watchdog To Probe Release Of Cohen Funds Info

    A lawyer for the U.S. Department of the Treasury’s internal watchdog said Wednesday that he would look into a possible leak of confidential banking records related to President Donald Trump’s longtime personal lawyer Michael Cohen.

  • May 9, 2018

    Feds Say Sentence Sought For Russia-Hired Hacker Fits Norm

    The federal government told a California federal court Tuesday that slapping a Canadian “hacker-for-hire” with a nearly eight-year prison sentence for breaking into thousands of email accounts is consistent with punishments imposed on individuals found guilty of similar crimes, seeking to soothe the judge’s concerns that the punishment is too severe.

  • May 9, 2018

    Dems Ask Trump To Pull Kirkland Partner's DOJ Nomination

    U.S. Senate Judiciary Committee Democrats on Wednesday called on President Donald Trump to withdraw his controversial nomination of Kirkland & Ellis LLP’s Brian Benczkowski to lead the Department of Justice’s criminal division over his representation of a bank with ties to Russian President Vladimir Putin.

  • May 9, 2018

    Cuomo Atty Slams Vance’s ‘Absurd’ Bid For Former AG Case

    Alphonso David, counsel to New York Gov. Andrew Cuomo, eviscerated Manhattan District Attorney Cyrus Vance in a letter Wednesday for suggesting he should investigate domestic violence allegations against the state’s former Attorney General Eric Schneiderman, calling it “frankly absurd” to think he could investigate an office simultaneously investigating him.

  • May 9, 2018

    DOJ Tackles 'Piling On' Of Corporate Penalties In New Policy

    U.S. Deputy Attorney General Rod Rosenstein announced in two speeches in New York on Wednesday that the U.S. Department of Justice had added a new internal policy setting out guidelines to help prosecutors avoid “piling on” corporate penalties with other U.S. enforcement agencies.

  • May 9, 2018

    Pharma CEO Pleads Not Guilty Of $1.5M Fraud, For Now

    A Wisconsin pharmaceutical company’s CEO accused of pocketing at least $1.5 million of investor money pled not guilty in Illinois federal court but intends to strike a deal with prosecutors next month, according to court orders entered Wednesday.

  • May 9, 2018

    Ruling On What Isn't A Security Needed For ICO Clarity

    A ruling in the case of a businessman charged with fraud in an initial coin offering in Brooklyn federal court has the potential to provide clarity on the contentious issue of whether cryptocurrency tokens are securities subject to regulation by the U.S. Securities and Exchange Commission, legal experts say.

  • May 9, 2018

    Ex-Simpson Thacher Clerk Gets Insider Trading Term Reduced

    A New Jersey federal judge on Wednesday shaved nine months from the nearly four-year prison sentence originally handed down to an ex-Simpson Thacher & Bartlett LLP clerk for his role in a $2 million insider trading scheme, noting that the clerk had not been responsible for the illicit gains of a third party he didn't know was part of the conspiracy.

  • May 9, 2018

    Vet Cops To Fraud In $8M Deal To Construct Facility At AFB

    A U.S. Army veteran pled guilty in Kansas federal court to charges stemming from allegations that he used his status as a service-disabled veteran to improperly help a company win an $8.2 million U.S. Department of Defense contract to construct a health care facility at a Massachusetts Air Force base.

  • May 9, 2018

    Hedge Fund Fights $2.5M Settlement In Petters Ponzi Scheme

    Hedge fund Ritchie Capital Management told a Minnesota federal judge Tuesday the district court's lack of jurisdiction to approve a $2.5 million settlement between J.P. Morgan Chase & Co. and the receivership over the assets of fraudster Thomas Petters was one of several reasons to block the deal.

  • May 9, 2018

    Hedge Fund Boss Ran $200M Mismarking Scheme, Feds Say

    A hedge fund boss led a $200 million scheme to overstate the value of his now-bankrupt fund's residential mortgage-backed securities, the federal government said on Wednesday in a newly unsealed indictment that also charged two ​of his ​co-workers.

  • May 9, 2018

    Hughes Hubbard Adds Trade Partner From Baker McKenzie

    Hughes Hubbard & Reed LLP has hired an international trade litigator previously with Baker McKenzie who once oversaw sanctions and export control investigations and prosecutions at the U.S. Department of Justice as a partner in its Washington, D.C., office, the firm announced Tuesday.

Expert Analysis

  • Equity Partnership Isn’t What It Used To Be

    Jeff Liebster

    To many young attorneys, becoming an equity partner shows a firm's long-term commitment, meaning job security and a voice in important firm matters. However, the industry has changed and nowadays it may not be better to enter a new firm as an equity partner, says Jeffrey Liebster of Major Lindsey & Africa.

  • Complying With 2 New AML Rules As Deadlines Approach

    Walter Mix

    Two landmark anti-money laundering rules — the federal beneficial ownership rule and New York’s transaction monitoring rule — have compliance deadlines coming up in the next few weeks. A variety of events may impact a financial institution’s ability to comply, says Walter Mix of Berkeley Research Group.

  • Opinion

    A Long Overdue Check On Prosecutorial Power In Tax Cases

    Caroline Rule

    Twenty years ago, we put forward a then-novel concept that the IRS and Justice Department were misusing the tax code to make their jobs easier. Congress didn’t heed our advice at the time, but last week the U.S. Supreme Court did. While it is satisfying to be vindicated by the ruling in Marinello v. U.S., the fact that the law was misused for so long represents justice delayed for many defendants, say Caroline Rule and Robert Fink of Kostelanetz & Fink LLP.

  • Series

    Judging A Book: Hardiman Reviews 'Without Precedent'

    Judge Thomas Hardiman

    In his new book, "Without Precedent: Chief Justice John Marshall and His Times," professor Joel Richard Paul ably explains more than a dozen of Marshall’s most significant opinions, which comes as no surprise​. ​What is a surprise — a pleasant one — is the book's readability, says Judge Thomas Hardiman of the Third Circuit.

  • Show Me The Money: The Answer To Trump Bribery Questions

    Seth Waxman

    Reports abound that “intermediaries” for President Donald Trump and Russian President Vladimir Putin participated in a secret bribery scheme involving lifting U.S. sanctions against massive Russian financial institutions. Having worked as a federal prosecutor in the Clinton, Bush and Obama administrations, I can report that there is one cardinal rule in these types of cases — follow the money, says Seth Waxman of Dickinson Wright PLLC.

  • High Court Criminal Tax Ruling Is Part Of A Trend

    Nicholas Hartmann

    The U.S. Supreme Court's tax decision last week in Marinello follows three prior rulings that have narrowed the reach of obstruction of justice statutes in white collar criminal investigations — Aguilar in 1995, Andersen in 2005 and Yates in 2015, say Nicholas Hartmann and Harry Sandick of Patterson Belknap Webb & Tyler LLP.

  • Top Tax Changes For Law Firms: What Lawyers Need To Know

    Evan Morgan

    For law firms structured as corporations, a lower maximum corporate tax rate and repeal of the corporate alternative minimum tax are good news. But many law firms are pass-through entities, so deduction limitations mean they'll see less benefit from the new tax law, says Evan Morgan of CPA and advisory firm Kaufman Rossin PA.

  • Expats Beware: OVDP Is Over In September

    Glen Frost

    U.S. taxpayers with undisclosed foreign accounts need to act soon as the IRS is ending its offshore voluntary disclosure program in six months, says Glen Frost of American Citizens Abroad.

  • Opinion

    Companies Should Avoid The BigLaw Bonus Structure

    Michael Moradzadeh

    Since passage of the Trump tax plan last year, companies have been touting bonuses they’ve handed down to rank-and-file employees. This highlights the trend of employers favoring bonuses over pay raises in the belief that variable, short-term rewards are less risky to the business than permanent increases in labor costs. But law firms have used this strategy for years — and there are dangers, says Michael Moradzadeh of Rimon PC.

  • Chief Innovation Officer — The New Star On Legal Teams

    Mark Williamson

    Over the past few years, forward-thinking law firms have expanded their talent pools to include a chief innovation officer, whose responsibilities include spearheading the implementation of technology. It is a smart move, says ​​​​​​​Mark Williamson, co-founder and chief technology officer at Hanzo Archives Ltd.