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White Collar
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April 24, 2025
Rising Gold Prices Should Nix $3M SEC Deal, Ex-Exec Says
A former executive of a company that solicited investments in gold and silver coins has pushed back on the U.S. Securities and Exchange Commission's efforts to collect on a $3 million settlement he struck with the agency, telling a federal judge the deal should be vacated because prices for precious metals have recently "skyrocketed."
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April 24, 2025
Ex-Biscayne CEO Gets 10 Years For $130M Ponzi Scheme
The co-founder and CEO of defunct investment advisory firm Biscayne Capital on Thursday was sentenced in New York federal court to 10 years in prison, over his admitted role in a $130 million Ponzi scheme that defrauded banks and investors in a purported luxury real estate fund.
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April 24, 2025
Trump Pardons Politician Convicted Of Statue Funding Fraud
President Donald Trump has issued a "full and unconditional pardon" to a former Las Vegas city council member and ex-state assemblyperson who was convicted of stealing $70,000 in funds she said would be used to honor two police officers killed on duty, according to a filing Thursday in Nevada federal court.
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April 24, 2025
Long Island Man Gets 18 Years For Father-Son Crypto Scam
A Long Island man convicted of cheating investors out of millions of dollars by falsely promising to serve as a broker for crypto sales while pocketing the funds was sentenced to 18 years in prison on Thursday.
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April 24, 2025
FINRA Says 5th Amendment Doesn't Apply In Adviser's Case
The Financial Industry Regulatory Authority has urged a Washington, D.C., federal court to toss a financial adviser's Fifth Amendment challenge against the self-regulating watchdog of brokers, arguing it is not subject to constitutional requirements when carrying out its self-regulatory responsibilities.
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April 24, 2025
Funds Manager Raided Coffers Before Ouster, Court Told
A Texas appeals court on Thursday questioned whether multiple commercial real estate funds had taken a vote before ousting a former manager accused of helping himself to company accounts, asking during oral arguments if the funds had followed correct procedures.
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April 24, 2025
Ex-CEO Of Trump-Tied SPAC Reaches Deal With SEC
The former CEO of the special purpose acquisition company that took President Donald Trump's social media platform public has reached a deal to end a U.S. Securities and Exchange Commission case accusing him of failing to timely alert investors to the prospective deal.
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April 24, 2025
Ex-OneTaste Execs Ask Justices To Nix 'Stolen' Docs
Former OneTaste executives facing forced-labor conspiracy charges asked the U.S. Supreme Court on Thursday to bar allegedly stolen and attorney-client privileged documents from being used at a May trial, saying corporate legal communications are broadly at risk.
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April 24, 2025
Dragonchain Suit Dropped Amid SEC's Crypto Reg Revisit
The U.S. Securities and Exchange Commission has agreed to end its suit accusing blockchain platform Dragonchain and its founder of selling unregistered securities to thousands of investors, citing the Trump administration's push to clarify regulations surrounding digital assets like cryptocurrency.
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April 24, 2025
Lawmakers Seek Answers From Law Firms Over Trump Deals
Democratic congressional members on Thursday demanded that Kirkland & Ellis, Latham & Watkins and seven other BigLaw firms provide more details on multimillion-dollar deals they've recently cut with the Trump administration, urging the firms to void their agreements while arguing they may violate numerous anti-bribery and legal ethics statutes.
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April 24, 2025
9th Circ. Backs Oppenheimer Bid To Avoid FINRA Arbitration
The Ninth Circuit unanimously affirmed Thursday a lower court's ruling blocking two Washington state couples' bid to arbitrate claims against Oppenheimer & Co. Inc. before the Financial Industry Regulatory Authority, saying the couples weren't customers of the financial services company despite getting caught up in a former Oppenheimer employee's Ponzi scheme.
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April 24, 2025
Mass. DA Says No Basis For Contempt Against ICE Agent
The chief prosecutor for Boston said Thursday he will not pursue a criminal contempt complaint against a U.S. Immigration and Customs Enforcement agent who took a defendant into custody in the middle of a trial last month, calling a state court judge's finding and referral "patently illegal."
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April 24, 2025
Ex-Pain Clinic Owner Gets 3½ Years For Drug Test Scheme
The former owner of a Pennsylvania pain management practice has been sentenced to three-and-a-half years in prison for conspiring with others to defraud Medicare by submitting unnecessary urine drug tests for chronic opioid patients at his medical clinics.
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April 24, 2025
Ex-Bank GC Gets 4-Year Sentence In $7.4M Fraud Scheme
A former Webster Bank general counsel and corporate secretary was sentenced Thursday to four years behind bars after pleading guilty to spending nearly eight years embezzling $7.4 million and funneling at least some of the money through his personal attorney trust accounts.
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April 24, 2025
Pardon Me? Why Offers To Secure Clemency Might Be A Scam
Some white collar lawyers and consultants say their clients are increasingly being solicited by potential scammers with promises to leverage supposed White House connections to secure pardons and other forms of clemency in exchange for big fees.
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April 24, 2025
Creek Can't Block Tulsa County Officials In Jurisdiction Fight
An Oklahoma federal judge denied a bid by the Muscogee (Creek) Nation to block Tulsa County officials from asserting criminal jurisdiction on its reservation, saying it has yet to show that its interests outweigh that of enforcing laws against Native Americans who don't belong to the tribe.
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April 24, 2025
Jury Deadlocks In Ill. Senator's Bribery Trial
An Illinois federal judge declared a mistrial in a state senator's bribery trial Thursday after jurors signaled two times in as many days that they couldn't reach a unanimous decision in his case.
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April 24, 2025
'Egregious' Delays Wipe Out Ga. Health Fraud Case
A Georgia federal judge on Thursday dismissed an eight-year-old case over alleged Medicaid fraud, calling the government's delays in bringing three healthcare executives to trial "egregious" and noting that the alleged criminal conduct took place between 12 and 25 years ago.
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April 24, 2025
NY AG Says Housing Fraud Claim Is 'Retribution' By Trump
New York Attorney General Letitia James on Thursday pushed back on claims by a federal housing official that she committed mortgage fraud, with her counsel branding it "the latest act of improper political retribution" directed by President Donald Trump after James' office secured a nearly half-billion dollar civil fraud judgment against him.
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April 24, 2025
No Greece Trip For Ex-Conn. Official Facing Corruption Cases
A Connecticut federal judge on Thursday denied a former state official's request to take a trip to Greece amid two indictments, an order that came the day after the government opposed the plan.
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April 24, 2025
Ex-BigLaw Atty's Plea Deal At Center Of Death Proceeds Suit
The godson of a Georgia woman fatally shot by her husband, a former BigLaw partner, has pushed back against a claim from the administrator of the woman's estate regarding a provision in the attorney's plea deal that assigned wrongful death settlement proceeds to the godson and his brother.
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April 24, 2025
Ex-Riverfront CFO Gets 19 Years For 'Vulgar' $44M Fraud
A former chief financial officer for the Detroit Riverfront Conservancy who pled guilty to stealing more than $40 million from the nonprofit was sentenced in Michigan federal court on Thursday to 19 years in prison, the length of time he worked for the organization, and ordered to pay $48 million in restitution.
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April 24, 2025
Guo Ch. 11 Trustee Can Spend $1.6M Maintaining NJ Mansion
The Chapter 11 trustee overseeing Chinese exile Miles Guo's bankruptcy in Connecticut can spend an extra $600,000 to maintain a Mahwah, New Jersey, mansion connected to the convicted fraudster, a judge has ruled.
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April 24, 2025
Red Sox TV Network Wins Civil Judgment In Fraud Suit
The regional cable channel that broadcasts Boston Red Sox and Bruins games has obtained a civil judgment against a former executive who was convicted of embezzling nearly $600,000 through a billing fraud scheme.
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April 24, 2025
Trader To Plead Guilty To Claims He Defrauded Pro Athletes
A Colorado man said he intends to plead guilty in a federal case accusing him of fleecing about 20 investors, including unidentified professional athletes, of more than $1 million.
Expert Analysis
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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What Rodney Hood's OCC Stint Could Mean For Banking
Acting Comptroller of the Currency Rodney Hood's time at the helm of the OCC, while temporary, is likely to feature clarity for financial institutions navigating regulations, the development of fintech innovation, and clearer expectations for counsel advising on related matters, say attorneys at Vedder Price.
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Opinion
We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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4 Actions For Cos. As SEC Rebrands Cyber Enforcement Units
As the U.S. Securities and Exchange Commission signals its changing enforcement priorities by retooling a Biden-era crypto-asset and cybersecurity enforcement unit into a task force against artificial-intelligence-powered hacks and online investing fraud, financial institutions and technology companies should adapt by considering four key points, say attorneys at Troutman.
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Deportation Flights May End Up A Legal And Strategic Error
Officials in the Trump administration could face criminal contempt charges if a D.C. judge finds that they flouted his orders last weekend to halt deportation flights to El Salvador, which could ultimately make mass deportations more difficult — and proving noncompliance a self-defeating strategy, says Ethan Greenberg at Anderson Kill.
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Mitigating The Risk Of Interacting With A Designated Cartel
There are steps companies doing business in Latin America should take to mitigate risks associated with the Trump administration's designation of several cartels as foreign terrorist organizations and the terrorism statute's material-support provisions, which may render seemingly legitimate transactions criminal, say attorneys at Covington.
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4 Key Payments Trends For White Collar Attys
As the payments landscape continues to innovate and the new administration looks to expand the role of digital currency in the American economy, white collar practitioners should be aware of several key issues in this space, say attorneys at Jenner & Block.
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Calif. Antitrust Bill Could Alter Enforcement Landscape
If enacted, a recently proposed California bill that would strengthen the state’s antitrust law could signal a notable shift in the U.S. enforcement environment, but questions remain about the types of cases the state could pursue, whether other states will follow suit and more, say attorneys at DLA Piper.
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Series
Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
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Series
Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.
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What's Old And New In The CFTC's Self-Reporting Advisory
Attorneys at Blank Rome analyze the U.S. Commodity Futures Trading Commission's recent advisory that aims to provide clarity on self-reporting violations of the Commodity Exchange Act, and review whether market participants should shift their thinking — or not — when it comes to cooperation with the CFTC.
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How Trump's Crypto Embrace Is Spurring Enforcement Reset
The U.S. Securities and Exchange Commission's recent willingness to step away from ongoing enforcement investigations and actions underscores the changing regulatory landscape for crypto under the new administration, which now appears committed to working with stakeholders to develop a clearer regulatory framework, say attorneys at Sheppard Mullin.
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Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.
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1st Circ. IMessage Ruling Illustrates Wire Fraud Circuit Split
The First Circuit’s recent decision that text messages exchanged wholly within Massachusetts but transmitted by the internet count as interstate commerce spotlights a split in how circuits interpret intrastate actions under the federal wire fraud statute, perhaps prompting U.S. Supreme Court review, say attorneys at ArentFox Schiff.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.