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White Collar
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May 06, 2024
Menendez Jury Can Hear Of Cash And Gold In Bribe Case
A jury soon to weigh corruption charges against U.S. Sen. Bob Menendez can be told about cash and gold "stuffed in pockets, in a safe, in jackets" in the New Jersey Democrat's home despite his insistence that nothing ties the money to alleged bribes, a judge ruled Monday.
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May 06, 2024
Whiteford Hires Veteran National Security Atty In DC
Whiteford Taylor & Preston LLP has hired a former Eastern District of Virginia assistant U.S. attorney, who has prosecuted high-ranking ISIS terrorists and a myriad of other criminals during his 18 years with the agency's national security and international crime unit.
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May 06, 2024
NY Judge Holds Trump In Contempt Again, Threatens Jail
Donald Trump was once again slapped with criminal contempt and a fine on Monday after the New York judge presiding over his hush money case found that he violated a gag order for the 10th time, explicitly warning that further violations could land the former president in jail.
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May 03, 2024
Binance Founder's Sentence Shaped By Plea And Apology
Binance founder Changpeng Zhao's willingness to cooperate with law enforcement and accept responsibility in court for the crypto exchange's anti-money laundering violations helped the former CEO land a deal with prosecutors that got him a relatively short prison sentence to close out a yearslong investigation.
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May 03, 2024
NY's Citi Suit Imperils Wire Transfer Market, Bank Groups Say
Major banking trade groups are backing Citibank NA in its fight against the New York attorney general's lawsuit over the bank's payment fraud protocols, warning that the state's claims seek to change how wire transfers are regulated in a way that could "upend" the marketplace for such services.
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May 03, 2024
Phone Carriers Still Want More Time On SIM Swap Deadline
Telecom trade groups have once again told the Federal Communications Commission that their members are going to struggle to meet the deadline for complying with the agency's new rules aimed at combating SIM card swapping fraud.
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May 03, 2024
Hope Hicks Tells Jury Of 'Access Hollywood' Tape Fallout
Hope Hicks, a former senior aide to Donald Trump, took the witness stand Friday in the former president's Manhattan hush money trial and described the fallout during the 2016 campaign after the release of the notorious "Access Hollywood" video and as word of his alleged extramarital affairs began to spread.
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May 03, 2024
Calif. Appeals Court Calls Firm's Conduct 'Woefully Uncivil'
A California state appeals court has backed sanctions against The Vanderpool Law Firm in a dispute with Masimo Corp., finding that the firm had engaged in misconduct during discovery and noting that it was "woefully uncivil" in its emails with opposing counsel.
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May 03, 2024
Harvey Weinstein Denied Win In $1M Fee Fight With Jose Baez
A New York state judge on Friday denied an early win to Harvey Weinstein in his $1 million fee dispute with criminal defense attorney Jose Baez, saying the incarcerated former media mogul produced nothing but a "self-serving affidavit" and "haphazard printout" to make his arguments.
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May 03, 2024
5 Plead Guilty To Hiding Fraud Proceeds In Chinese Cos.
Five men pled guilty in Florida federal court to fraud-related charges connected to a scheme that involved hacking into businesses' computer systems and wiring millions of dollars to bank accounts in the name of fake companies before the money was ultimately laundered in China, according to the Internal Revenue Service.
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May 03, 2024
BTC-e Mastermind Cops To Money Laundering Conspiracy
A Russian national pled guilty Friday to conspiracy to commit money laundering related to his central role in operating the cryptocurrency exchange BTC-e from 2011 to 2017, according to the U.S. Attorney's Office for the Northern District of California.
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May 03, 2024
Criminal Defense Attys Push Biden For Cannabis Clemency
On the heels of the U.S. Department of Justice's announcement that it would recommend relaxing federal restrictions on marijuana, the National Association of Criminal Defense Lawyers has urged President Joe Biden to grant clemency and compassionate release to those with federal nonviolent marijuana convictions.
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May 03, 2024
'Bud And Breakfast' Cannabis Scammer Gets 2 Years In Prison
An Alaska man who pled guilty to conspiracy stemming from a scam bilking investors out of $722,000 to fund a failed "Bud and Breakfast" tourist lodge and on-site marijuana grow was sentenced to two years in prison in Alaska federal court on Friday, according to the U.S. Attorney's Office.
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May 03, 2024
Gen AI Shows Promise — And Peril — For Pro Se Litigants
Research on the capabilities of generative AI tools to help self-represented people has shown potential, but there is broad disagreement about how and when pro se litigants should be using them alone.
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May 03, 2024
NY Judge Urged To Detain Chinese Tycoon Who Owes $500M
A trio of Chinese investors have urged a New York federal judge to prevent a Chinese cinema magnate from being deported, saying he will otherwise skip town without paying more than $500 million in arbitral awards and nearly $164,000 in attorney fees.
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May 03, 2024
Sidley Liable For Ex-Partner's Tax Sheltering, Ga. Judge Told
Counsel for a family of business magnates who say they were duped into an illegal tax shelter scheme over 25 years ago by Sidley Austin urged a Georgia federal judge Friday to let their suit against the firm continue, arguing its defense that the suit is time-barred should be done away with.
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May 03, 2024
Nikola Ends Board Takeover Suit As Ex-CEO's Noms Withdraw
An Arizona federal judge on Thursday agreed to toss Nikola Corp.'s complaint against its former CEO and convicted felon Trevor Milton and several others accusing them of an illegal board takeover by pushing unqualified candidates, after the defendants withdrew their board nominees and the parties amicably resolved the dispute.
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May 03, 2024
Sentencing Delayed For Ex-Fintech Exec In Crypto Case
Sentencing for the CEO of fintech company Hydrogen Technology Corp. was delayed Friday after a dispute over how to calculate the amount of money lost in the conspiracy to manipulate the market for Hydrogen's digital assets.
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May 03, 2024
3rd Circ. Clarifies Review Standard For Derivative Suits
In a precedential ruling Friday declining to revive Cognizant Technology investors' derivative claims over a bribery scandal, the full Third Circuit held that the best way to review such cases on appeal was from the beginning, not giving deference to the lower court's decision or considering whether there was an abuse of discretion.
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May 03, 2024
SoFi Unit To Pay FINRA $1.1M To Settle Customer ID Claims
SoFi Securities has agreed to pay $1.1 million to settle Financial Industry Regulatory Authority claims that it lacked a suitable user verification process for the firm's cash management brokerage business, allowing the opening of 800 accounts used by third parties to illegally transfer $8.6 million from other financial institution accounts.
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May 03, 2024
OneTaste Duo's Bid To Toss Charges Slapped Down By Judge
A Brooklyn federal judge on Friday denied a bid by two former executives of OneTaste to dismiss an indictment accusing them of extracting free labor from alleged members of the San Francisco sexual wellness company through abusive tactics.
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May 03, 2024
Feds Say They Didn't Break Law Pursuing Ozy Media, Owner
Prosecutors are urging a New York federal judge not to grant a defunct media startup and its owner Carlos Watson's request to dismiss the criminal fraud case against them as parties prepare to start picking their jury later this month.
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May 03, 2024
Menendez Says Feds' Talk Of Psychiatrist Invaded Privacy
U.S. Sen. Bob Menendez says prosecutors in his corruption case violated a New York federal court order and may have tainted the jury pool by allegedly revealing his sensitive private health information in a publicly filed motion opposing the New Jersey politician's request to introduce expert testimony by a psychiatrist.
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May 03, 2024
Coverage Recap: Day 7 Of Trump's NY Hush Money Trial
Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from day seven.
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May 03, 2024
Texas Rep. Cuellar Charged With Taking Bribes
U.S. Rep. Henry Cuellar and his wife have been indicted on federal charges they accepted bribes from entities in Azerbaijan and Mexico in exchange for political favors, prosecutors said Friday.
Expert Analysis
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Series
Playing Competitive Tennis Makes Me A Better Lawyer
My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.
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A Guide To New Russia Sanctions For Foreign Financial Cos.
Attorneys at Foley Hoag take foreign financial companies on a deep dive into the compliance advice the U.S. Office of Foreign Assets Control issued after President Joe Biden's December executive order widened a Russian import ban and authorized sanctions against businesses that transact with Russia's military-industrial base.
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How Russia Sanctions Bills Could Reshape Asset Forfeiture
Several U.S. legislative proposals to seize billions in frozen Russian assets for post-war reconstruction of Ukraine would bypass traditional asset forfeiture guardrails, making it crucially important that practitioners remain vigilant and understand when to proactively engage with the government, say attorneys at Kasowitz.
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Series
The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
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Ex-OpenSea Staffer Case May Clarify When Info Is Property
In considering the appeal of a former OpenSea manager’s wire fraud conviction in U.S. v. Chastain, the Second Circuit may soon provide guidance about whether economic information is traditional property in certain insider trading prosecutions — a theory of fraud that the U.S. Supreme Court has repeatedly narrowed, say attorneys at Debevoise.
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Despite HHS Opinion, Gift Card Giveaways Require Caution
Though the U.S. Department of Health and Human Services' Office of Inspector General recently determined that a healthcare consulting firm's gift card plans do not violate the Anti-Kickback Statute, the opinion does not suggest blanket approval for providing gift cards in exchange for referrals, say Ragini Acharya and Matthew Deutsch at Husch Blackwell.
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Takeaways From SEC's Aggressive Cybersecurity Moves
The U.S. Securities and Exchange Commission's intensifying policy on cybersecurity and securities violations in the wake of a data breach — like its enforcement action against SolarWinds and its security officer — has emboldened shareholders to file related suits, creating a heightened threat to public companies, say attorneys at Baker McKenzie.
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Considerations For Lawyer Witnesses After FTX Trial
Sam Bankman-Fried's recent trial testimony about his lawyers' involvement in FTX's business highlights the need for attorney-witnesses to understand privilege issues in order to avoid costly discovery disputes and, potentially, uncover critical evidence an adversary might seek to conceal, says Lawrence Bluestone at Genova Burns.
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US Cos. Must Guard Against Russian Diversion Of Goods
Amid allegations that Russia is end-running trade sanctions through the diversion of otherwise innocuous, everyday goods, U.S. industry involved in the manufacture or distribution of electric products must step up its customer and partner due diligence to avoid unwittingly facilitating the weapons proliferation cycle, say attorneys at Arnold & Porter.
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Employee Experience Strategy Can Boost Law Firm Success
Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.
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What Cos. Can Learn From 2023 Export Enforcement Report
A January report summarizing key actions and policy changes undertaken at the Office of Export Enforcement in 2023 is a valuable indicator of future government priorities and the factors companies should consider as they conduct export operations amid what may be a turbulent international trading environment in 2024, says Thaddeus McBride at Bass Berry.
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What EU And UK Corp. Corruption Reform Means For US Cos.
Legislative developments in the U.K. and European Union have signaled that the prosecution of fraud and corruption is becoming a greater priority, and large U.S. companies with a global presence should view them as an opportunity to create and revise their global compliance programs, say attorneys at DLA Piper.
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Series
Competing In Triathlons Makes Me A Better Lawyer
While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.
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Opinion
History Reveals Folly Of Absolute Presidential Immunity
As a federal appeals court grapples with former President Donald Trump’s claims that he’s immune from prosecution on election interference charges, it’s a fitting time for lawyers to reflect on the rule of law — from 13th century jurisprudence to Watergate and the Clinton impeachment — and how the idea of absolute presidential immunity is unwise, says attorney Steven Reske.
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Where Justices Stand On Chevron Doctrine Post-Argument
Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.