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White Collar

  • September 10, 2018

    SEC Settles With Ex-Nomura RMBS Trading Head

    The U.S. Securities and Exchange Commission on Friday told a New York federal judge it had reached a settlement with a former managing director of Nomura Securities International Inc., resolving allegations that he had participated in a $7 million residential mortgage-backed securities fraud.

  • September 10, 2018

    Calif. Atty Makes Behind-Bars Plea To Toss SEC Fraud Case

    A California attorney, pilot and yachtsman convicted of running a $1.5 million pump-and-dump scheme wrote from prison to ask a Massachusetts federal judge to dismiss a U.S. Securities and Exchange Commission complaint against him, or continue to stay the enforcement action until his criminal appeal is complete, according to a motion filed Monday.

  • September 10, 2018

    Death Row Inmate Whose Atty Admitted Guilt Gets New Trial

    The Louisiana high court on Friday granted a death row inmate a new trial, finding that his lawyer's admissions of his client's guilt in the death of a child, made over the defendant's explicit objections, constituted ineffective counsel.

  • September 10, 2018

    Bolton Says International Criminal Court 'Illegitimate'

    National Security Adviser John Bolton launched a withering attack on the International Criminal Court Monday, saying the “illegitimate” court is “dead to us,” and threatening sanctions against court officials if it moves forward with a pending investigation into alleged U.S. war crimes in Afghanistan.

  • September 10, 2018

    Energy Co. Execs Defrauded Investors Of Millions, SEC Says

    The U.S. Securities and Exchange Commission has filed suit in New York federal court alleging the founder of a company that owned the rights to crude oil processing technology and two of its executives defrauded investors of millions and then spent the money on themselves.

  • September 7, 2018

    Measuring The Recession’s Toll On The Legal Industry

    For starting attorneys, the financial crisis casts a long shadow, even though the worst is past. Here’s our breakdown of the data showing its impact and where the industry’s headed.

  • September 7, 2018

    Too Small To Fail?

    It’s been almost 10 years since Lehman Brothers collapsed — kicking off a global recession and putting two Skadden partners on a path to building a firm that would weather the storm. Here's how upstarts and their larger rivals are positioning themselves for the next downturn.

  • September 7, 2018

    Feds Pursue Lower Burden Of Extortion Proof At 1st Circ.

    Federal prosecutors asked the First Circuit on Friday to revive an extortion case against two Boston mayoral aides charged with wielding their positions at city hall to pressure a concert organizer to hire union labor, allegedly in an attempt to help the labor unit, their own careers and their Democratic boss.

  • September 7, 2018

    Atty Denies $3B, Indoor Football-Related Stock Scheme

    A onetime Illinois attorney on Friday denied charges in New York federal court of falsely inflating the value of a shell company he secretly controlled by nearly $3 billion by issuing bogus press releases claiming ownership of a National Indoor Football League team.

  • September 7, 2018

    Atty Referral Co. Owner Accused Of Paying Cops For Leads

    The owner of an Illinois attorney referral business was indicted Thursday on federal bribery charges alongside two Chicago police officers whom he's accused of paying to give him nonpublic information on car crashes as leads for cases.

  • September 7, 2018

    Ex-BioCube CEO Gets 3 Years In Prison For Stock Fraud

    The CEO of BioCube Inc., a company supposedly developing a marijuana breath tester, on Friday was sentenced to three years in prison for a multimillion-dollar scheme with a Philadelphia attorney and a barred broker to falsely inflate the company’s stock.

  • September 7, 2018

    Ex-Trump Adviser Papadopoulos Gets 14 Days For Lying

    Former Trump campaign adviser George Papadopoulos was sentenced to 14 days behind bars Friday for making false statements to the FBI, closing out a page in the special counsel's probe into Russian interference in the U.S. election and possible collusion with President Donald Trump’s 2016 campaign.

  • September 7, 2018

    Ex-Boxing Champ With Ties To Russian Mob Gets 10 Years

    A former middleweight boxing champion accused of being the chief enforcer for a Russian organized crime boss was sentenced to 10 years in prison by a New York federal judge Friday.

  • September 7, 2018

    Expert Wrongly Nixed In Doc's Kickback Case, 3rd Circ. Told

    A New Jersey doctor convicted of accepting $200,000 in kickbacks for blood lab referrals urged the Third Circuit on Friday to give him a new trial, arguing that a federal judge abused his discretion by scrapping expert testimony showing that the tests he ordered were medically necessary.

  • September 7, 2018

    Russian Man Nabbed In Hack Of 83M JPMorgan Customers

    A Russian national has been brought to New York on charges of assisting three other men in the "gargantuan" hack of 83 million JPMorgan Chase & Co. customers and using the information to operate a pump-and-dump securities fraud operation, the Manhattan U.S. attorney's office said Friday.

  • September 7, 2018

    Army Vet Is 6th Of 7 BofA Insider Defendants To Plead Guilty

    An Army veteran on Friday became the sixth defendant out of a total of seven facing charges to cop to an insider trading scheme that raked in roughly $2 million from tips that flowed from a former Bank of America technology consultant.

  • September 7, 2018

    NextEra Insurer Sues To Recover $2.4M In Fraud Scheme

    NextEra Energy Inc.'s insurer filed suit in California federal court against a group of individuals and entities that were previously accused of defrauding the energy company out of about $2.4 million through the use of fake invoices, arguing it is due reimbursement for the scheme.

  • September 7, 2018

    Health Hires: Pepper Hamilton, Perkins Coie, Davis Wright

    Pepper Hamilton LLP, Perkins Coie LLP, Davis Wright Tremaine LLP, Simmons & Simmons, McKool Smith PC and Lane Powell PC are the latest firms to boost their health and life sciences offerings, with former prosecutors, antitrust experts, cannabis specialists and more.

  • September 7, 2018

    Einhorn Harris Nabs Ex-NJ Asst. County Prosecutor

    Einhorn Harris Ascher Barbarito & Frost PC has added as counsel to its criminal law practice group a former assistant county prosecutor and onetime criminal defense attorney amid plans of growing that aspect of the New Jersey firm’s varied portfolio.

  • September 7, 2018

    SEC Wins $63M Clawback From Family Of Fugitive Oak Exec

    A Connecticut federal judge gave the green light Thursday for the U.S. Securities and Exchange Commission to claw back almost $63 million from the wife and children of a former Oak Investment Partners executive who is on the lam over a $67 million fraud scheme.

Expert Analysis

  • Lorenzo V. SEC: Will High Court Further Curtail Rule 10b-5?

    Roger Cooper

    In Lorenzo v. U.S. Securities and Exchange Commission, the U.S. Supreme Court will consider whether a misstatement claim that does not meet the elements set forth in the court’s 2011 Janus decision can be repackaged and pursued as a fraudulent scheme claim under Rule 10b-5. A number of possible outcomes present themselves, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Opinion

    3 Pros, 3 Cons Of Litigation Finance

    Ralph Sutton

    An educated guess puts the number of new litigation funders launched in the past 18 months at 30 — an astonishing number, with more to come. Is this a blessing to our legal system or something more akin to tulip mania? Maybe both, says Ralph Sutton, founder and CEO of litigation funding firm Validity Finance LLC.

  • California Decision Distorts Bank Liability Under FIRREA

    Ben Singer

    A California federal judge recently concluded in United States v. Bogucki that any action by a bank employee that incurs potential liability for the bank triggers the Financial Institutions Reform, Recovery, and Enforcement Act. This renders unwieldy the scope of banks’ potential FIRREA exposure, says Ben Singer of O'Melveny & Myers LLP.

  • Modern Communication Brings E-Discovery Challenges

    Thomas Bonk

    As new communications platforms displace email, the legal industry is awkwardly grappling with complex e-discovery questions. Fortunately, this environment provides a very fertile ground of incentives for innovation in both e-discovery technology and service offerings, says Thomas Bonk of Epiq.

  • Opinion

    DOJ Should Encourage The Bid-Rigging Whistleblower

    Robert Connolly

    There are relatively few government contract collusion whistleblowers. The U.S. Department of Justice's Antitrust Division could roll out the whistleblower welcome mat by making a few changes that will not cost the government a nickel. Even if only one new case emerges, the efforts would be worth it, says former federal prosecutor Robert Connolly.

  • Opinion

    It's Not All About The Benjamins, Baby (Lawyer)

    J.B. Heaton

    Notwithstanding the latest salary war among prominent law firms, I urge my middle-aged and older colleagues to help the recent graduates we know focus on the long term. Even if the salary is the same, there is a big difference between an institutional firm and the relatively younger firms matching BigLaw, says J.B. Heaton, a University of Chicago business law fellow and former partner at Bartlit Beck.

  • Series

    Judging A Book: Hood Reviews 'Lawyering From The Inside Out'

    Judge Denise Hood

    Law professor Nathalie Martin's new book, "Lawyering From the Inside Out: Learning Professional Development Through Mindfulness and Emotional Intelligence," can be of value to any lawyer aiming to achieve greater productivity, relieve the stress of the legal profession and focus on goals, says U.S. District Chief Judge Denise Page Hood of the Eastern District of Michigan.

  • Already Caught? The Truth Won't Lower Your IRS Penalties

    Bryan Camp

    In the recent case of Gaskin v. Commissioner, the U.S. Tax Court rejected a "fraudster's" argument that his penalties should be reduced because he had filed an amended return. The case illustrates that telling the IRS the truth after you're caught won't save you from paying penalties — or what what Professor Bryan Camp of Texas Tech School of Law calls "the one return rule."

  • Challenging SEC Authority To Enforce The Bank Secrecy Act

    Bob Loeb

    In the past few years, the U.S. Securities and Exchange Commission has become increasingly active in bringing enforcement actions based on broker-dealers' alleged failures to comply with the Bank Secrecy Act. But the SEC's authority to bring BSA actions has never been established — and is currently being challenged in SEC v. Alpine Securities, say attorneys with Orrick Herrington & Sutcliffe LLP.

  • Series

    High Crimes And Misdemeanors: Making Political Judgments

    Laurence Tribe

    Presidential impeachment exists not so that one party can decapitate the other, but to preserve the foundation of our democracy. For an impeachment to be legitimate, it must be a fair process in which Congress speaks for a majority of the American people in undoing an election, say Laurence Tribe of Harvard Law School and Joshua Matz of Gupta Wessler PLLC.