A Florida real estate investor on Wednesday pled guilty for his part in a $16 million conspiracy to rig bids in online auctions on homes foreclosed following the 2008 financial crisis, the latest in the government's long-running foreclosure sales investigation. .
Former Dewey & LeBoeuf LLP chief financial officer Joel Sanders, convicted in New York state court last year on fraud and conspiracy charges, was disbarred Wednesday.
By agreeing to hear an appeal of an investment banker found liable for fraud for copying and pasting his boss's fraudulent emails into a message to clients, the U.S. Supreme Court is expected to clarify the important distinction between primary and secondary liability in securities fraud cases, legal experts say.
A New York man accused of stealing secrets while working for the Central Intelligence Agency in 2016 and feeding them to WikiLeaks pled not guilty Wednesday to charges of stealing and transmitting national defense information and asked for time to consider if he will consent to proceeding in Manhattan federal court.
Former New York state Senate Majority Leader Dean Skelos and his son used the once-powerful politician’s office to strong-arm businesses for illicit payments to the younger Skelos, prosecutors told a Manhattan federal jury Wednesday during opening arguments in the pair’s corruption retrial.
A West Virginia Supreme Court justice was indicted Wednesday on charges of fraud, lying to the Federal Bureau of Investigation and tampering with a witness related to his alleged misuse of state funds and property.
A former partner at Jones Day who was shut out of a bid to become San Diego's U.S. attorney under the last Republican administration got the White House's nod for the job on Wednesday, as did three others in Colorado, New Orleans and Detroit.
The wife and children of a former Oak Investment Partners executive are fighting the U.S. Securities and Exchange Commission’s demand for $89.4 million in assets over the family patriarch’s $67 million fraud, telling a Connecticut federal judge Tuesday that the agency’s motion "overreaches."
A Massachusetts federal judge on Wednesday sentenced a former executive at a California biopharmaceutical company to a below-guideline term of two years and three months in prison for admitting he traded in 2013 and 2014 on nonpublic information that trials of the company’s prospective breast cancer treatment were showing positive results.
Prosecutors told a New York federal court Tuesday that a former Valeant Pharmaceuticals International Inc. manager’s conviction over a $9.7 million kickback plot can’t be scrapped just because one of the jurors in the case didn’t disclose that she was involved in a civil lawsuit, saying the exec’s motion for a new trial should be denied.
Members of the House Ways and Means Oversight Subcommittee questioned a U.S. Justice Department official Wednesday over asset seizures in structuring cases referred by the Internal Revenue Service and asked why the department had denied requests to have funds returned.
The Illinois board monitoring the conduct of the state’s judges has filed a formal complaint seeking the removal of a Cook County, Illinois, judge convicted in a $1.4 million mortgage fraud scheme, saying her failure to resign has harmed the state’s judicial system.
A Canadian man who organized an initial coin offering that the U.S. Securities and Exchange Commission claims was a $15 million fraud told a Brooklyn federal judge in court Wednesday that the regulator had gone too far and called for the suit to be dismissed, saying authorities in Canada are already “all over this.”
The Pennsylvania Supreme Court on Tuesday declined to hear an appeal from a former state representative pushing to dodge a conviction for using public funds on campaign-related technology purchases on grounds that prosecutors had destroyed potentially exculpatory evidence.
A former State Street Corp. executive on trial for allegedly hiding millions of dollars in fees from some of the firm's biggest clients asked a federal judge in Boston on Tuesday for an acquittal before the case goes to the jury, arguing that the government has not been able to prove its case.
New York’s banking regulator said Wednesday that Deutsche Bank AG has agreed to pay a $205 million penalty as part of a settlement resolving state banking law violations stemming from an investigation into the German bank’s foreign exchange trading business.
Former executives at Aegerion Pharmaceuticals Inc. argued Tuesday that a False Claims Act case against them ignores a federal regulatory program that gave marketers and doctors explicit permission to recommend an expensive cholesterol drug to people who did not have the rare genetic disorder it was created for.
Two former biostatistician friends at Akebia Therapeutics Inc. and Merrimack Pharmaceuticals Inc. will face securities fraud charges for allegedly cashing in on nonpublic drug trial information, a federal judge in Massachusetts said Tuesday.
The U.S. Securities and Exchange Commission on Tuesday said it has secured an asset freeze against five investment advisers and three companies for allegedly conning at least 637 investors over several years through $102 million Ponzi scheme.
The Third Circuit on Tuesday refused to overturn a former Philadelphia doctor's convictions on charges of causing a patient's death and taking part in a drug trafficking conspiracy with members of a motorcycle gang in which he wrote bogus prescriptions in exchange for cash and sexual favors.
Legal industry compensation practices are once again in the news as BigLaw firms continue to match the new high watermark of $190,000 for first-year associate salaries. The typical model of increasing associate salaries uniformly fails star associates, the firms they work for and, ultimately, the clients they serve, says William Brewer, managing partner of Brewer Attorneys & Counselors.
On Monday, the U.S. Supreme Court issued its opinion in Rosales-Mireles v. United States. Read together with the court’s 2016 decision in Molina-Martinez v. United States, this opinion establishes a presumption that a defendant is entitled to resentencing whenever a district court makes a clear error in calculating a defendant’s U.S. Sentencing Guidelines range, says Taylor Crabtree of Ellis & Winters LLP.
While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.
In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.
The District of Columbia Circuit Court of Appeals will soon hear argument concerning whether a filing deadline set forth in the Internal Revenue Code can limit the Tax Court's ability to review decisions of the IRS Whistleblower Office. The court's ruling will affect all whistleblower appeals because the D.C. Circuit is the only court where whistleblower cases can be reviewed, says Michael DeBlis of DeBlis Law.
For close observers of the Foreign Agents Registration Act, the June 8 release by the U.S. Department of Justice of over 50 FARA advisory opinions was a watershed. These opinions offer an unprecedented glimpse into how the FARA Registration Unit interprets the law, say Brian Fleming and Andrew Herman of Miller & Chevalier Chtd.
The legal industry has already begun to feel the impact of anti-bribery and anti-money laundering requirements. When involved with cryptocurrency trading and remittance, law firms face more than the risk of being perceived as organizations that support money laundering practices, says John Reed Stark of John Reed Stark Consulting LLC.
With its recent decision in Hughes v. United States, the U.S. Supreme Court has passed on an opportunity to shed light on its prior rulings on the statutory reach of the federal Clean Water Act, long a source of confusion for lower courts and litigants alike, say Andrea Driggs and Christopher Thomas of Perkins Coie LLP.
Law firms are increasingly accepting cryptocurrency as payment for services. While this might seem innovative and forward-thinking, ironically it is much more of a throwback, says John Reed Stark of John Reed Stark Consulting LLC.
The criminal prosecution of Andre Flotron was ill-fated and suffered from a series of missteps and miscalculations by the government. However, it is now beyond any legitimate dispute that spoofing occurs, that it is illegal, that prosecutors are willing and able to charge spoofing as a criminal violation, and that it is possible to prove those charges in court, say attorneys with K&L Gates LLP.