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White Collar
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July 16, 2024
Cannabis Patients And DOJ Offer Dueling Reads On Rahimi
A group of Floridians and the U.S. Department of Justice have advanced dueling interpretations of whether a recent U.S. Supreme Court ruling on gun laws justifies stripping medical cannabis patients of their right to bear arms.
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July 16, 2024
Florida's 'Mother Teresa' Pleads Guilty To $190M Ponzi Scheme
Johanna Garcia, the former MJ Capital CEO known as "Mother Teresa" in Florida, pled guilty Tuesday to one count in the indictment accusing her of running a $190 million investment Ponzi scheme through the company.
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July 16, 2024
Platinum Co-Founder Dodges Prison For Bond Fraud Rap
Platinum Partners co-founder Mark Nordlicht on Tuesday was spared prison time for his five-year-old conviction over a purported scheme to defraud bondholders of a Texas oil and gas company, as a New York federal judge doubted that "such a weird case" would have any deterrent value.
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July 16, 2024
Cohen Asks Justices To Hear Claim Trump Put Him In Prison
Donald Trump's former attorney-turned-critic Michael Cohen has asked the U.S. Supreme Court to take another look at his suit claiming the former president had him imprisoned in retaliation for his plans to portray Trump negatively in his book.
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July 16, 2024
Former CFPB Counsel Joins Davis Wright In DC
Davis Wright Tremaine LLP announced that a former senior counsel with the Consumer Financial Protection Bureau joined the firm's financial services group as a Washington, D.C.-based partner.
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July 16, 2024
Feds Say Drug Monitoring Co. Founder Pulled $5M Scam
The founder of a patient monitoring company pitched as an effort to help people recovering from addictions to avoid relapsing during medical treatment duped around 50 investors into putting $5 million into his firm, a now-unsealed criminal indictment alleges in Pennsylvania federal court.
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July 16, 2024
Chinese Exile Guo Guilty On Most Counts In $1B Fraud Case
A Manhattan federal jury on Tuesday convicted prominent Chinese Communist Party critic Miles Guo on most charges alleging he operated a vast fraud that solicited more than $1 billion worth of sham investments from his supporters.
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July 16, 2024
Greenbaum Rowe Trial Pro Joins McCarter & English In NJ
A former chair of Greenbaum Rowe Smith & Davis LLP's criminal defense and regulatory compliance practice moved to McCarter & English LLP this week, bringing over 25 years of experience representing doctors, elected officials and other high-profile clients.
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July 16, 2024
Vertex Pharma Widens War On Watchdog's Kickback Views
A lawsuit from gene therapy-drug maker Vertex Pharmaceuticals over fertility treatment access is a new battle over enforcement kickback theories and health officials' interpretation of "inducement."
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July 16, 2024
Former Ozy Media CEO Convicted Of Defrauding Investors
A New York federal jury on Tuesday convicted former Ozy Media CEO Carlos Watson of fraud and identity theft in a case alleging the charismatic startup founder lied to banks and investors to secure tens of millions of dollars in funding for the multimedia company.
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July 16, 2024
The 2024 Diversity Snapshot: What You Need To Know
Law firms' ongoing initiatives to address diversity challenges have driven another year of progress, with the representation of minority attorneys continuing to improve across the board, albeit at a slower pace than in previous years. Here's our data dive into minority representation at law firms in 2023.
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July 16, 2024
These Firms Have The Most Diverse Equity Partnerships
Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.
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July 16, 2024
Menendez Guilty Of 'Shocking Corruption,' Urged To Resign
A New York federal jury found U.S. Sen. Robert Menendez guilty on Tuesday of taking gold bars, cash and a Mercedes-Benz as bribes from three businessmen, handing a victory to the government on its second try to convict the embattled New Jersey Democrat on corruption charges and prompting calls for his resignation.
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July 16, 2024
Ex-Philly Charter School Exec Gets 7 Years For Embezzlement
Abdur Rahim Islam, who ran famed R&B producer Kenny Gamble's Philadelphia-based housing and education nonprofit, was sentenced Tuesday to seven years in prison for stealing hundreds of thousands of dollars from the organization and using the ill-gotten gains for Caribbean vacations.
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July 15, 2024
Ex-Pfizer Worker Seeks No Time For Paxlovid Insider Trading
A former Pfizer employee argued that he shouldn't go to prison after a Manhattan federal jury convicted him of insider trading over clinical trial results for the drug Paxlovid, pointing out that a friend of his and co-defendant had dodged a custodial sentence in the case after helping prosecutors.
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July 15, 2024
Bannon Wants Full DC Circ. To Revisit Contempt Conviction
Ex-Trump White House aide Steve Bannon asked the D.C. Circuit on Monday for an en banc rehearing as he seeks to overturn his contempt of Congress conviction, saying a three-judge panel's determination that he "willfully" flouted a subpoena from the Jan. 6 House select committee ignored U.S. Supreme Court precedent.
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July 15, 2024
Netgear Defends RICO, Antitrust Case Against Huawei
Router maker Netgear is coming out in defense of its suit accusing the Chinese government-affiliated Huawei of racketeering and antitrust violations, saying that the tech company has attacked its claims by "overstating the pleading requirements and ignoring the law."
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July 15, 2024
Menendez Jury Seeks Deliberation Guidance In 2 Notes
The Manhattan federal jury weighing bribery charges against Sen. Robert Menendez and two businessmen sent two notes Monday indicating confusion as to fundamental issues.
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July 15, 2024
Cook County To Double Restorative Justice Courts
Cook County Chief Circuit Judge Timothy Evans pledged Monday to more than double the county's so-called second-chance courts this year, praising their results so far in cutting recidivism by diverting young-offender prosecutions in favor of personal rehabilitation.
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July 15, 2024
Owner Of Bankrupt Gov't Contractor Charged With Perjury
The owner of a bankrupt government water contractor has been indicted on perjury charges, accused of falsifying the company's bankruptcy filings by failing to report millions in assets transferred to her and other company insiders.
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July 15, 2024
NRA's Policies Called 'Dumpster Fire' As 2nd NY Trial Opens
The New York attorney general cast the National Rifle Association as unrepentant and unreformed as a second-phase bench trial began in state court Monday, after a jury had found the group and its ex-officers liable for misspending millions.
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July 15, 2024
Calif. Man Avoids Prison For Lumentum Insider Trading
A California man who pled guilty to trading on tips from a former executive of laser company Lumentum Holdings Inc. avoided prison Monday in light of his assistance to the government's investigation.
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July 15, 2024
SEC Says German Flouting Discovery In $150M Fraud Probe
A German national suspected of receiving proceeds of a $150 million "pump and dump" scheme from his son can't pick and choose when to avail himself of U.S. legal processes, the U.S. Securities and Exchange Commission said Monday as it seeks to recover funds.
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July 15, 2024
FTX Proposes $4B Settlement Of CFTC's Massive $52B Claim
FTX Trading Ltd. asked a Delaware bankruptcy judge to sign off on a settlement with the U.S. Commodity Futures Trading Commission, saying the agreement to allow the agency a $4 billion claim in its bankruptcy would end a fraud civil enforcement action and address the "most significant single creditor" in the crypto currency exchange's Chapter 11 case.
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July 15, 2024
Ex-NYC Homeless Services Fraud Investigator Admits ID Theft
A former fraud investigator for the New York City Department of Homeless Services pled guilty along with a co-defendant Monday to scheming to steal the personal information of homeless people and using it to fraudulently apply for unemployment benefits.
Expert Analysis
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FARA Enforcement May Soon Be In The Halls Of Higher Ed
Given Congress’ increased attention to rising foreign influence on U.S. college campuses, the U.S. Department of Justice may soon turn the Foreign Agents Registration Act spotlight on educational institutions and groups, which will need to review their possible obligations under the statute, says Tessa Capeloto at Wiley.
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What Recent Study Shows About AI's Promise For Legal Tasks
Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.
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How FinCEN Proposal Expands RE Transaction Obligations
Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.
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When Your Client Insists On Testifying In A Criminal Case
Speculation that former President Donald Trump could take the stand in any of the four criminal cases he faces serves as a reminder for counsel to consider their ethical obligations when a client insists on testifying, including the attorney’s duty of candor to the court and the depth of their discussions with clients, says Marissa Kingman at Fox Rothschild.
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5 Things Trial Attorneys Can Learn From Good Teachers
Jennifer Cuculich at IMS Legal Strategies recounts lessons she learned during her time as a math teacher that can help trial attorneys connect with jurors, from the importance of framing core issues to the incorporation of different learning styles.
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Why Preemption Args Wouldn't Stall Trump Hush-Money Case
With former President Donald Trump's New York hush-money criminal trial weeks away, some speculate that he may soon move to stay the case on preemption grounds, but under the Anti-Injunction Act and well-settled case law, that motion would likely be quickly denied, says former New York Supreme Court Justice Ethan Greenberg, now at Anderson Kill.
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Insurance Implications Of Trump's NY Civil Fraud Verdict
A New York state trial court’s $450 million judgment against former President Donald Trump and affiliated entities for valuation fraud offers several important lessons for companies seeking to obtain directors and officers insurance, including the consequences of fraudulent misrepresentations and critical areas of underwriting risk, says Kevin LaCroix at RT ProExec.
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Opinion
European Union Criticisms Of The FCPA Are Misguided
Some in the European Union have criticized U.S. enforcement of the Foreign Corrupt Practices Act for what they perceive as jurisdictional overreach, but this appears to overlook the crucial fact that jurisdiction is voluntary, and critics should focus instead on the lack of equivalent laws in their own region, say John Joy and YuTong Wang at FTI Law.
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Fintech Compliance Does Not Always Equal Bank Compliance
Recent enforcement actions are a reminder for banks working with financial technology providers — whether as partners to extend their reach or as internal resources to support existing operations — that few areas of risk need more frequent attention than Bank Secrecy Act and anti-money laundering compliance, says Christopher Couch at Phelps Dunbar.
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Making The Pitch For A Civil Resolution In A Criminal Case
Even without the depth of visibility into prosecutorial decision making offered by special counsel Robert Hur’s recently released report, defense counsel may be able to make the case for civil resolutions of criminal investigations while minimizing a potential negative response from prosecutors to such an argument, says Bill Athanas at Bradley Arant.
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Litigation Inspiration: A Source Of Untapped Fulfillment
As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.
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Unpacking FinCEN's Proposed Real Estate Transaction Rule
Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.
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5 Ways To Hone Deposition Skills And Improve Results
Excerpt from Practical Guidance
Depositions must never be taken for granted in the preparations needed to win a dispositive motion or a trial, and five best practices, including knowing when to hire a videographer, can significantly improve outcomes, says James Argionis at Cozen O'Connor.
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Series
Skiing Makes Me A Better Lawyer
A lifetime of skiing has helped me develop important professional skills, and taught me that embracing challenges with a spirit of adventure can allow lawyers to push boundaries, expand their capabilities and ultimately excel in their careers, says Andrea Przybysz at Tucker Ellis.
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Practical Steps For Navigating New Sanctions On Russia
After the latest round of U.S. sanctions against Russia – the largest to date since the Ukraine war began – companies will need to continue to strengthen due diligence and compliance measures to navigate the related complexities, say James Min and Chelsea Ellis at Rimon.