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White Collar
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June 25, 2025
Auto Lender's Ex-Exec Gets No Prison For Role In $67M Fraud
An auto lender's former operations chief was sentenced Wednesday in Illinois federal court to one day of time served alongside a year of supervised release, three months of which served as home detention, for his role in a fraud that caused more than $60 million in losses.
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June 25, 2025
NC Woman Gets 5 Years For Federal Student Aid Scheme
A North Carolina woman was sentenced Tuesday to five years in prison and ordered to pay $3.6 million to the U.S. Department of Education after pleading guilty to wire fraud charges alleging the theft of millions from the federal student loan aid program.
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June 25, 2025
Investor Wins $2.25M In Cannabis Shareholder Dispute
The manager of a medical marijuana collective must fork over $2 million and a 50% stake in the entity to an investor, a Los Angeles state court judge ruled, hitting the defendant, previously accused of recklessly spending the dispensary money and found liable for fraud, with another judgment.
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June 25, 2025
Adviser's $300M Ponzi Dismissal Bid 'Specious,' Investor Says
An investor who was roped into what the federal government has called a $300 million Ponzi scheme asked a Georgia federal judge Wednesday to keep their suit alive, arguing they shouldn't be subject to heightened pleading standards for a fraud claim they never made against a Peach State financial adviser.
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June 25, 2025
Ex-Google Engineer Nixes Evidence Over Miranda Violation
A California federal judge has ordered that statements a former Google engineer made to federal agents investigating him for espionage and trade secret theft must be suppressed because they violated the Chinese national's Miranda rights.
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June 25, 2025
The 5 Big Enforcement Trends White Collar Attys Must Know
The Trump administration has made clear its intent to prioritize U.S. interests, eliminate transnational cartels and cut government fraud, waste and abuse — but questions remain about the administration’s approach to foreign bribery, crypto, public corruption, self-disclosure and clemency as we head into the second half of the year.
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June 25, 2025
Watchdog Targets US Atty Over Arrests, Probes Of NJ Officials
The legal ethics watchdog Campaign for Accountability on Wednesday accused interim U.S. Attorney for New Jersey Alina Habba of an "abuse of power" over her office's recent investigations and arrests of New Jersey officials and called for an ethics investigation.
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June 25, 2025
3rd Circ. Pick Emil Bove Says He's 'Not Anybody's Henchman'
Emil Bove, nominee for the Third Circuit, who previously served as President Donald Trump's criminal attorney and was a top acting official at the U.S. Department of Justice earlier this year, where he took various controversial actions, made his case on Wednesday for judicial confirmation.
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June 25, 2025
NJ Rep. McIver Pleads Not Guilty In ICE Facility Incident
U.S. Rep. LaMonica McIver pled not guilty Wednesday in New Jersey federal court to assault and interference charges stemming from an incident at an immigration detention center in Newark on May 9.
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June 25, 2025
NJ Accountant Admits To Role In $1.3B Easement Tax Scheme
A New Jersey accountant admitted to promoting fraudulent conservation easement tax shelters to wealthy clients in connection with a $1.3 billion scheme that triggered decades-long prison sentences for two ringleaders, the U.S. Department of Justice said Wednesday.
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June 25, 2025
Pa. Wealth Manager Gets 8 Years For Stealing Client Money
A suburban Philadelphia wealth manager was sentenced Wednesday to just over eight years in prison for using nearly $25 million of his clients' money on properties, country club fees and luxury vacations, his counsel said.
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June 25, 2025
Mass. Atty Gets 18 Mos. For 'Greed' In Pot Shop Bribery Plot
A Massachusetts lawyer, whose conviction for attempting to bribe a police chief to endorse his client's retail cannabis license application had been partly reversed at the First Circuit, was re-sentenced Wednesday to 18 months in prison by a federal judge who said the attorney should have known better.
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June 25, 2025
Hanford Contractor To Pay $6.5M To Settle Fraud Allegations
A contractor tapped to manage and operate a tank farm holding millions of gallons of hazardous and radioactive waste at the Hanford nuclear site in Washington will pay $6.5 million to settle claims it overcharged the U.S. Department of Energy for labor hours, according to federal prosecutors.
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June 25, 2025
Lobbyist Who Evaded Taxes Gets Prison, $1.7M Restitution
A Miami lobbyist who admitted to evading taxes was sentenced to prison and ordered to pay $1.7 million in restitution to the U.S. after prosecutors said he spent years pretending to sell his house to pay off his debt, according to a Florida federal court.
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June 25, 2025
Do Kwon Trial Judge Has Eye On Federal Crypto Legislation
Federal legislation that could codify stablecoins as payment-related assets — not securities — has the potential to impact the Manhattan U.S. attorney's $40 billion criminal case against Terraform founder Do Kwon, a federal judge said Wednesday.
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June 25, 2025
How An Ex-AUSA's Compliance Savvy Ended A Kickback Case
An attorney drew upon his past as a federal prosecutor in New Jersey and as a healthcare compliance counsel to get all charges dropped against a doctor accused of accepting close to $150,000 in bribes through Insys Therapeutics for "sham" speaker program engagements.
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June 25, 2025
11 Arrested In €520M VAT Fraud Investigation, EPPO Says
Italian authorities arrested 11 people in Italy on suspicion that they participated in a massive €520 million ($604 million) value-added tax fraud scheme tied to mafia operations, the European Public Prosecutor's Office said.
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June 24, 2025
Former DOJ Antitrust Official Joins Latham
Latham & Watkins LLP on Wednesday announced the addition of a new D.C.-based antitrust partner with the hiring of Andrew Forman, a former deputy assistant attorney general in the U.S. Department of Justice's Antitrust Division who is rejoining private practice after three years of helping lead civil competition enforcement.
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June 24, 2025
Colo. Justices Order Fraud Retrial Over Legal Advice Hearsay
Colorado's highest court granted a new securities fraud trial Monday to a man whose testimony in his own defense about advice of counsel was curtailed by a judge, saying legal advice is unquestionably relevant in mounting a defense around "willfulness."
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June 24, 2025
Fla. Nonprofit Leaders Charged In $100M Fraud Scheme
A Florida federal grand jury has charged the founder of a special needs nonprofit and its accountant with multiple counts of fraud stemming from a scheme to steal $100 million from the organization, alleging they diverted money through a slush fund used to pay for personal expenses.
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June 24, 2025
Landmark Product Safety Conviction Faces 9th Circ. Appeal
A former Gree USA executive has appealed his conviction and 38-month prison sentence in the first-ever criminal prosecution of individuals under the Consumer Product Safety Act, according to a Tuesday filing in California federal court.
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June 24, 2025
SEC, Ex-Chicago Hedge Fund Ink $5.8M Deal In Fraud Suit
The U.S. Securities and Exchange Commission has settled with a now-defunct Chicago investment firm in its lawsuit accusing the firm of mismanaging $1 billion in assets, ahead of a trial, with the firm and its co-defendants agreeing to fork over more than $5.8 million collectively.
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June 24, 2025
Ex-NFL Player Says Indicted Adviser Defrauded Him For Years
Retired Carolina Panthers defensive lineman Mike Rucker and his wife unknowingly invested in a Ponzi scheme perpetrated by their longtime financial adviser who is now under criminal indictment in North Carolina, according to a state court complaint they filed accusing him of mismanaging their money for decades.
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June 24, 2025
Reinsurer Gets Short Prison Stint In Ecuadorian Bribery Case
A Florida federal judge sentenced a reinsurance manager to 10 months of time served in prison for his role in a $3 million Ecuadorian bribery scheme following a hearing in Miami court on Tuesday, potentially allowing him to leave the country to reunite with his family in South America.
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June 24, 2025
No New Trial For Convicted Crypto CEO Linked To Abramoff
A California federal judge Tuesday declined to acquit a cryptocurrency company founder convicted of fraud and money laundering in a case that also involved disgraced ex-lobbyist Jack Abramoff, calling the defendant's assertions that the court wrongly blocked evidence showing Abramoff had conspired against the company "laughable."
Expert Analysis
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10 Soft Skills Every GC Should Master
As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.
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Reviving A Dormant Criminal Statute In Antitrust Prosecution
The U.S. Department of Justice is poised to revive a dormant misdemeanor statute to resolve bid-rigging charges against a foreign national, providing important context to a recent effort to entice foreign defendants to take responsibility for pending charges or face the risk of extradition, say attorneys at Axinn.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Assessing Market Manipulation Claims In Energy Markets
Today's energy markets are conducive to sudden price changes, breakdowns in pricing linkages and substantial shifts in trading patterns, so it's necessary to take a holistic view when evaluating allegations of market manipulation, say Maximilian Bredendiek, Greg Leonard and Manuel Vasconcelos at Cornerstone Research.
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How Calif., NY Could Fill Consumer Finance Regulatory Void
California and New York have historically taken the lead in consumer financial protection, and both show signs of becoming even more active in this area during the second Trump administration amid an enforcement pullback at the federal level, say attorneys at Sidley.
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Series
Volunteer Firefighting Makes Me A Better Lawyer
While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.
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Limit On SEC Enforcement Authority May Mean Fewer Actions
Following a recent U.S. Securities and Exchange Commission final rule revoking the Enforcement Division director's long-standing authority to issue formal investigation orders, it's clear the division is headed for a new era of limited autonomy, marked by a significantly slower pace of SEC investigations, say attorneys at Ballard Spahr.
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Calif. May Pick Up The Slack On Foreign Bribery Enforcement
The California attorney general recently expressed an interest in targeting foreign bribery amid a federal pause in Foreign Corrupt Practices Act enforcement, so companies should calibrate their compliance programs to mitigate against changing risks, especially as other states could follow California’s lead, say attorneys at Gibson Dunn.
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E-Discovery Quarterly: The Perils Of Digital Data Protocols
Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.
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Defense Strategies After Justices' Personal Injury RICO Ruling
In Medical Marijuana v. Horn, the U.S. Supreme Court recently held that the Racketeer Influenced and Corrupt Organizations Act can be invoked by some plaintiffs with claims arising from personal injuries — but defense counsel can use the limitations on civil RICO claims to seek early dismissal in such cases, say attorneys at Debevoise.
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Opinion
Ripple Settlement Offers Hope For Better Regulatory Future
The recent settlement between the U.S. Securities and Exchange Commission and Ripple — in which the agency agreed to return $75 million of a $125 million fine — vindicates criticisms of the SEC and highlights the urgent need for a complete overhaul of its crypto regulation, says J.W. Verret at George Mason University.
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Series
Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.
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Opinion
Federal Limits On Counter-Drone Options Need Updating
As malicious actors swiftly and creatively adapt drone technology for nefarious ends, federal legislation is needed to expand the authority of state and local governments, as well as private businesses and individuals, to take steps against such threats, says Carter Lee at Woods Rogers.
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OCC Patriot Bank Order Spotlights AML Issues For Managers
The Office of the Comptroller of the Currency's focus on payments and prepaid card program managers in its recent consent order with Patriot Bank is noteworthy and shows regulators are unlikely to back down on enforcement related to Bank Secrecy Act/anti-money laundering, say attorneys at Troutman Pepper.