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White Collar
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May 01, 2024
Federal Prosecutor Confirmed As Illinois District Judge
The Senate voted 54-44 on Wednesday to confirm Assistant U.S. Attorney Georgia N. Alexakis as a U.S. District Court judge for the Northern District of Illinois.
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May 01, 2024
Ex-FDIC Atty Gets 20-Year Sentence In Child Exploitation Case
A former attorney with the Federal Deposit Insurance Corp. who admitted to participating in online groups aimed at sexually exploiting children has been sentenced to 20 years in prison.
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May 01, 2024
Overtime Theft Scheme Earns Ex-Mass. Trooper 3 Years
The former second-in-command of a Massachusetts state police traffic safety unit was sentenced to three years in prison for his role in a widespread conspiracy to steal federally funded overtime through no-work shifts.
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May 01, 2024
Feds Say Conn. Psychologist's Fraud Was His 'Way Of Life'
A Connecticut psychologist who pled guilty to defrauding his state's Medicaid program of $1.6 million in January should spend three years and one month in prison for a scheme that was "a way of life" rather than a momentary lapse in judgment, the government said in a sentencing memorandum.
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April 30, 2024
SEC Vet Joins NC Firm 'Reinventing' White Collar
The former assistant secretary of the U.S. Securities and Exchange Commission, Christina Zaroulis Milnor, has left government service after more than a decade to launch a Washington, D.C., office for North Carolina-based Cranfill Sumner LLP alongside two firm partners who say they are reinventing traditional white collar work, the firm announced Wednesday.
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April 30, 2024
Epstein Victims Must Disclose Names In FBI Suit, Judge Says
A New York federal judge on Tuesday denied anonymity to 12 survivors of sexual predator Jeffrey Epstein in their lawsuit alleging the FBI ignored numerous tips that Epstein was running a sex trafficking ring, saying the victims failed to support claims they would suffer irreparable harm if their identities were revealed.
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April 30, 2024
Ex-Autonomy VP Says CEO Lynch Told Him To Lie To Investors
A former Autonomy business development executive testified Tuesday that CEO Mike Lynch directed him to lie to a hedge fund investor about prepaid royalty deals that boosted the company's upfront revenue numbers, saying at Lynch's criminal fraud trial that it was hard to say no to the "big boss."
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April 30, 2024
Justices Told Error Admission Merits Respect In Capital Case
Attorneys general from across the country implored the U.S. Supreme Court on Tuesday to give the "utmost" deference to Oklahoma's confession that prosecutorial misconduct led to the wrongful conviction of a death row inmate and to overturn a state court ruling that rebuffed the admission and upheld the conviction.
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April 30, 2024
Chase Can't Escape Medical Services Co.'s Defamation Suit
A Florida federal judge refused Monday to toss a suit by a medical services company accusing JPMorgan Chase Bank NA of destroying its business by adding it to a "blacklist," canceling its transactions and falsely telling its business partners that sanctions typically applied to violators of international laws or human rights statutes caused the cancellations.
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April 30, 2024
'Bitcoin Jesus' Dodged Nearly $50M In Taxes, Feds Say
The U.S. has charged an early bitcoin investor dubbed "Bitcoin Jesus" over allegations that he dodged approximately $48 million in taxes by filing false tax returns and concealing how much of the cryptocurrency he owned, according to an announcement from the U.S. Department of Justice on Tuesday.
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April 30, 2024
Atty Tells Trump Jury That Hush Money Deal Almost Tanked
An attorney who previously represented adult film star Stormy Daniels told jurors Tuesday in the New York criminal trial of Donald Trump about how the $130,000 hush money agreement at the heart of the case was nearly derailed after former Trump lawyer Michael Cohen would not close the deal.
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April 30, 2024
SEC Fines 3 Men For Insider Trading On Zogenix Buyout
The U.S. Securities and Exchange Commission reached deals Tuesday totaling more than $170,000 with three men accused of trading shares of biopharmaceutical company Zogenix Inc. based on insider information.
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April 30, 2024
Lender Alleging Fraud Asks Court To Block Golf Club Sales
A lender accusing the owner of multiple Atlanta golf clubs of defrauding it of more than $4 million has asked a Georgia federal court to block upcoming golf course sales to avoid the "imminent risk" that the borrower would hide the proceeds and dodge attempts to recoup losses from the alleged scheme.
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April 30, 2024
Michigan Renews Judges' Power To Charge Court Costs
Michigan trial courts can continue charging operational costs to convicted defendants after Gov. Gretchen Whitmer signed legislation Tuesday reauthorizing the fees, one day before they were set to expire.
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April 30, 2024
Customers Can't Get Ill. ComEd Bribery Suit Restored
An Illinois state appellate panel refused Monday to reinstate a putative class action accusing Commonwealth Edison of fraud in the wake of the utility's admission that it bribed the former Illinois House speaker to secure his support for favorable energy policy, saying the passage of the relevant legislation wasn't directly related to the bribes.
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April 30, 2024
Crypto Exec Denies $2B Laundering Charges, Is Out On Bail
The CEO of crypto mixer Samourai Wallet has pled not guilty to charges he helped facilitate over $2 billion in illegal transactions and was released on $1 million bail after surrendering to federal authorities voluntarily.
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April 30, 2024
Truth Social Investor Had No Criminal Intent, NY Jury Told
Counsel for a Florida investment pro accused of insider trading on advance knowledge of a deal to take public former President Donald Trump's media concern Truth Social argued to a Manhattan federal jury Tuesday that he acted in good faith.
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April 30, 2024
Kimmel Calls Mocking Santos' Cameo Vids 'Classic' Fair Use
Late-night TV host Jimmy Kimmel has urged a Manhattan federal court to toss a copyright complaint from indicted former congressman George Santos over Cameo clips the comedian tricked him into making for fodder on his show, saying videos to "mock a controversial political figure" are a "quintessential example" of fair use.
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April 30, 2024
Buffalo Judge Won't Be Ejected For Brawl, Ethics Failures
New York state's judicial ethics watchdog said Tuesday that a Buffalo judge should be censured but not removed following an investigation into a street fight with neighbors during which the judge shoved an officer and touted his ties to the mayor and police, among other ethical lapses.
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April 30, 2024
Trial Set For Lin Wood's Ex-Partners' Defamation Suit
Controversial attorney Lin Wood will face trial in August in a defamation case brought by his former law partners who say he falsely accused them of trying to extort him, a Georgia federal judge decided Tuesday.
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April 30, 2024
Attys, Broker Can't Escape $4M Tax Fraud Convictions
A North Carolina federal judge has denied acquittal requests from two tax attorneys and an insurance agent who were convicted for their roles in a $4 million tax avoidance scheme, saying he agreed with federal prosecutors who argued there was sufficient evidence for the underlying charges.
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April 30, 2024
Feds Endorse Easing Marijuana Status In Big Policy Shift
Federal drug enforcers will recommend loosening restrictions on cannabis for the first time since the drug was made federally illegal decades ago, the U.S. Department of Justice announced Tuesday.
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April 30, 2024
King & Spalding Adds Miami Atty To Gov't Investigations Team
A former federal prosecutor who was most recently a partner at Miami boutique Meland Budwick PA has joined King & Spalding LLP's special matters and government investigations practice, the firm announced Tuesday.
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April 30, 2024
New Florida Moms To Be Excused From Jury Duty
Florida women who have recently given birth will soon be excused from jury duty, with Gov. Ron DeSantis signing a bipartisan bill into law last week.
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April 30, 2024
Binance Founder Gets 4 Mos. For Lax Money Laundering Policy
Binance founder Changpeng Zhao was sentenced Tuesday to four months in prison for his failure to implement an effective anti-money laundering program at the global crypto exchange, as a federal judge rejected a more severe punishment sought by the government citing concerns about sentencing disparity.
Expert Analysis
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A Look At FedNow Liability Allocation And A 4th Circ. Toss-Up
Dsu-Wei Yuen and Andrew Lorentz at Davis Wright break down the current legal requirements that are directly applicable to common electronic payment systems like FedNow and Automated Clearing House and how they could be affected by a decision in Studco v. 1st Advantage Credit Union, currently on appeal in the Fourth Circuit.
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The 4 Top Philadelphia Commerce Court Opinions Of 2023
Four 2023 rulings from the Philadelphia County Court of Common Pleas — including decisions on judicial privilege, stay requests, sheriff's sales and the appointment of a receiver — highlight the court's commitment to stringent standards and address evolving challenges in commercial litigation, say Jonathan Hugg and Sarah Boutros at Eckert Seamans.
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A Former Bankruptcy Judge Talks 2023 High Court Rulings
In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.
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3 Defense Takeaways From The Bankman-Fried Trial
FTX founder and former CEO Sam Bankman-Fried’s recent fraud conviction offers several key lessons for future white collar defendants, from the changing nature of cross-examination to the continued risks of taking the stand, say Jonathan Porter and Gregg Sofer at Husch Blackwell.
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Series
Children's Book Writing Makes Me A Better Lawyer
Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.
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Opinion
What Happens If High Court Rejects Releases In Purdue Ch. 11
Reading the tea leaves following the U.S. Supreme Court's recent arguments in Harrington v. Purdue Pharma, it appears likely that the justices will decide that bankruptcy courts lack the power to release third-party claims against nondebtors, which would result in one of three scenarios, says Gregory Germain at Syracuse University.
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Lessons From DOJ's Wave Of Labor Market Prosecutions
Attorneys at Patterson Belknap consider lessons learned and future meaningful challenges following the U.S. Department of Justice's first six criminal antitrust cases targeting employee no-poach and wage-fixing agreements, in which just one case resulted in a guilty plea.
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DOJ Officials' Remarks Signal New Trends In FARA Activity
Three U.S. Justice Department officials' remarks at a recent forum reinforce the department's renewed focus on aggressively enforcing the Foreign Agents Registration Act, which has been transformed into a significant national security and criminal enforcement tool, and its efforts to tightly regulate the activities of foreign agents in the U.S., say attorneys at Covington.
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3 FinCEN Fraud Alerts To Remember In 2024
With financial fraud now the largest source of illicit proceeds in the U.S., banks should review this year's key Financial Crimes Enforcement Network alerts to ensure their employees know the warning signs of three types of rising scams and understand how to effectively report suspicious activity, says Memrie Fortenberry at Jones Walker.
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How Clients May Use AI To Monitor Attorneys
Excerpt from Practical Guidance
Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.
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7 Enforcement Predictions For US Export Controls, Sanctions
Federal agencies' assertions of coming increases in export-control and sanctions-violations enforcement are not new, but recent improvements in resources and inter-agency cooperation allow for certain predictions about how the administration’s latest approach to enforcement may be applied going forward, say attorneys at Akin.
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SDNY Ruling Warns Parties To Heed Amended Disclosure Rule
A Manhattan federal court’s recent ruling in U.S. v. Mrabet forewarns both prosecutors and defense counsel that amended expert witness disclosure obligations will be rigorously enforced by judges, and gives some insight into how courts may deal with related constitutional challenges, say John Siffert and Brandon Davis at Lankler Siffert.
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8 Ways To Negotiate Improved Disgorgement Outcomes
The U.S. Securities and Exchange Commission's nearly $3.4 billion collected in disgorgements in 2023 shows that substantial disgorgement claims from regulators and law enforcement are the new norm, but corporations may be able to dramatically reduce what they owe by using eight strategies to argue for reduced net profit calculations, say experts at AlixPartners.
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How The NY AG Leads Investigations In Civil Securities Fraud
Although investigating white collar fraud can put significant strain on state and local resources, the New York Attorney General's Office has continued to use its expansive statutory authority to take a leading role in bringing civil enforcement actions in highly complex financial matters, say Carrie Cohen and Nathan Reilly at MoFo.
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Series
The Pop Culture Docket: Judge D'Emic On Moby Grape
The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.