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White Collar
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June 07, 2024
Miami Official Can't Shake Zoning Abuse Claims
A Miami commissioner can't escape allegations that he and other city officials conspired to sabotage local businesses with zoning and safety laws after a pair of business owners backed the commissioner's opponent in a 2017 election, a Florida federal judge ruled.
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June 07, 2024
Ex-Mass. Town Official Charged With Defrauding Pot Investors
A former elected official in a Massachusetts town has been charged with raising nearly $500,000 from investors in two cannabis businesses he was starting, then using the funds to pay off debts from prior businesses, federal prosecutors announced Friday.
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June 07, 2024
Mich. Atty Convicted Of Client's Murder Gets License Pulled
The Michigan Attorney Discipline Board has suspended the license of a lawyer recently convicted of plotting to kill two of his clients, a jeweler and his wife, and of killing the jeweler, allegedly to gain access to their trust.
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June 07, 2024
Support Co. Can't Revive Suit Blaming Lindberg For Lost Biz
A customer support company that claimed its ties to convicted insurance mogul Greg E. Lindberg cost it an important client can't revive a fraudulent concealment suit, with the Fourth Circuit ruling Friday that Lindberg wasn't obligated to disclose his criminal conduct.
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June 07, 2024
Calif. Atty Faces Hacking Charge In Utility Billing Scandal
A San Fernando Valley attorney accused of scheming with lawyers representing the city of Los Angeles to settle a customer billing class action favorably for the Los Angeles Department of Water and Power also plotted to access the email and phone accounts of the judge overseeing the litigation, the State Bar of California asserted in an additional disciplinary charge filed Thursday.
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June 07, 2024
Ex-Insurance Broker Tells Jury He Bribed Sen. Menendez
A former insurance broker testified Friday that he bribed U.S. Sen. Robert Menendez to intervene in an investigation by the New Jersey attorney general's office in return for a Mercedes-Benz convertible, which replaced a car that was totaled in a fatal crash involving the congressman's wife.
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June 07, 2024
SEC Fines Asian Food Supplier $3.9M Over Splurging Ex-CEO
The U.S. Securities and Exchange Commission has reached a $3.9 million settlement with HF Foods Group Inc. over claims that the food distributor issued false and misleading disclosures, just two days after the regulator settled with two HF Foods executives in a separate case over similar claims.
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June 07, 2024
Atty Comms Are Fair Game After NJ Guilty Plea, Feds Say
Prosecutors told a New Jersey federal court Friday that communications between convicted and later pardoned fraudster Eliyahu Weinstein and Shlomo Erez, his Israeli attorney, must be turned over in Weinstein's new fraud case as Erez pled guilty to involvement in the alleged scheme in late May.
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June 07, 2024
Ex-Atlanta Asst. City Atty Gets 87 Months In $15M Fraud Case
A former Atlanta assistant city attorney and police officer was sentenced Friday to 87 months in prison, followed by three years of supervised release, for fraudulently obtaining approximately $15 million in loans under the Paycheck Protection Program.
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June 07, 2024
Carhartt Heir's Atty Cleared On 2 Counts; Deadlock On Rest
A Michigan state jury in Detroit on Friday partially cleared a Michigan attorney accused of stealing millions of dollars from his wealthy client, the late Carhartt company heiress Gretchen Valade, but jurors could not agree on two of four charges.
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June 07, 2024
Baker Donelson Can't Ax Ponzi Scheme Suit, Receiver Says
A federal receiver has urged a Mississippi federal judge to reject Baker Donelson's summary judgment bid seeking a pretrial win on civil conspiracy claims the firm allowed a nine-figure timber business Ponzi scheme to unfold,
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June 07, 2024
Emboldened SEC Spells Double Trouble For Defense Bar
The U.S. Securities and Exchange Commission's enforcement division has taken an increasingly aggressive stance in recent years thanks in part to an influx of federal prosecutors joining the agency and court decisions that have gradually become more permissive on parallel civil and criminal investigations, defense lawyers say.
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June 07, 2024
Ex-Director In NYC Mayor's Office Charged With Bank Fraud
A former director in the New York City Mayor's Office during the Bill de Blasio administration has been indicted on charges that he schemed to defraud over a dozen banks out of about $10 million using illegitimate fraud reports to induce reimbursements.
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June 07, 2024
Former Allianz Unit Exec Admits Role In $6B Fund Fraud
A former portfolio manager at Allianz SE's U.S. unit told a Manhattan federal judge Friday that he lied to investors about the risks of the German finance giant's now-defunct Structured Alpha Funds, admitting to his role in a $6 billion fraud.
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June 07, 2024
Ex-Goldman Sachs Banker Loses Bribery Extradition Fight
A former Goldman Sachs banker has lost his fight to avoid being extradited to the U.S. for allegedly bribing Ghanaian officials, as a London court ruled on Friday that the alleged crimes were sufficiently linked to America to be tried there.
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June 06, 2024
Alec Baldwin Faces New 'Rust' Shooting Civil Claims In NM
The family of cinematographer Halyna Hutchins, who was shot and killed on the set of "Rust," has lodged another civil suit against Alec Baldwin, this time in New Mexico, according to a complaint filed Wednesday in Santa Fe County court.
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June 06, 2024
NY Prosecutor Says DOJ Self-Disclosure Policies Are Working
The proliferation of policies across the U.S. Department of Justice crediting firms and individuals for voluntarily self-disclosing misconduct indicates the approach is effective, even though instances of such disclosures aren't overwhelming, a senior federal prosecutor in New York told a gathering of compliance officers on Thursday.
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June 06, 2024
Health Co. CEO Sold Stock Amid Souring Cigna Deal, Jury Told
A stock analyst told California federal jurors Thursday he noticed in disclosure forms that the founder of healthcare company Ontrak Inc. was starting to sell company shares a few weeks before Cigna announced it was terminating its $90 million contract with the company.
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June 06, 2024
White Collar Boutique Sued By Ex-Client Over Representation
White collar boutique Clark Smith Villazor LLP and one of its name partners is facing a lawsuit from a former client, a convicted securities fraud defendant who claims the firm caused him to be arrested by the FBI and face millions of dollars in fines.
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June 06, 2024
Calif. Judge Pauses Wells Fargo Investor Row Over State Case
A California federal judge has paused a pension system's proposed class action accusing top Wells Fargo & Co. officers of enabling a "culture of lawlessness," making way for a state court suit that alleges similar wrongdoing.
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June 06, 2024
Cellular Fraud Ring Netted $9M In Fake Lost Phone Claims
Telephone providers and insurance companies were bilked out of $9 million over a six-year period by a scam that used stolen identities to trick them into replacing mobile devices, which were then resold outside the country, according to a guilty plea secured by federal prosecutors.
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June 06, 2024
Chronic Care Co. To Pay $14.9M To End DOJ False Claims Suit
A provider of chronic disease management services across several states has reached a $14.9 million settlement with the U.S. Department of Justice, resolving a False Claims Act suit alleging it defrauded Medicare and Medicaid by "upcoding" healthcare claims.
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June 06, 2024
Hallie Biden Tells Jury She 'Panicked' Finding Hunter's Gun
Hunter Biden's former sister-in-law and ex-girlfriend told a Delaware federal jury Thursday that she "panicked" when she found a gun and a box of bullets in his truck and threw the gun in a grocery store trash can because she was afraid he might hurt himself.
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June 06, 2024
Harvey Weinstein Bill Won't Become NY Law This Year
A New York state bill that would have made evidence of past sexual offenses explicitly admissible in sex crime trials — inspired by Harvey Weinstein's recent rape conviction reversal — has fizzled out in the state Assembly following its quick passage in the state Senate, New York legislators told Law360 Thursday.
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June 06, 2024
Investors Say Fund Preyed On Alums For RICO Scheme
A group of Chinese and American investors alleged this week that they were ripped off to the tune of millions of dollars by a group of fraudsters who, through a series of fraudulent bank loans, bogus tax filings and false advertising, induced them into putting their money into a Los Angeles real estate project.
Expert Analysis
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Opinion
High Court's Gifts Problem Taints Public Corruption Cases
A history of U.S. Supreme Court justices failing to disclose luxurious gifts from wealthy donors coincides with a troubling line of court precedent overturning jury convictions in public corruption cases, indicating that perhaps justices aren't presently fit to be making these decisions, says Sen. Sheldon Whitehouse, D-R.I.
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The Legal Industry Needs A Cybersecurity Paradigm Shift
As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.
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As Promised, IRS Is Coming For Crypto Tax Evaders
The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.
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5 Reasons Associates Shouldn't Take A Job Just For Money
As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.
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Following Banking Regulators' Breadcrumbs To 2024 Priorities
Through blog posts, speeches, and formal guidance and regulations, prudential and other federal and state financial regulators laid out a road map last year pointing to compliance priorities that should be reflected in financial institutions' planning this year, say Laurel Loomis Rimon and Gina Shabana at Jenner & Block.
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New SDNY Whistleblower Program May Be A Game-Changer
A new pilot program in the U.S. Attorney’s Office for the Southern District of New York promises to immunize from prosecution certain individuals who blow the whistle on financial crimes and corruption, and if similar self-disclosure programs are any indication, this significant new policy may measurably increase white collar investigations, say attorneys at Paul Hastings.
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1869 Case May Pave Off-Ramp For Justices In Trump DQ Fight
In deciding whether former President Donald Trump is disqualified from Colorado's Republican primary ballots, the U.S. Supreme Court could rely on due process principles articulated in a Reconstruction-era case to avert a chaotic or undemocratic outcome, says Gordon Renneisen at Cornerstone Law Group.
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Series
Playing Competitive Tennis Makes Me A Better Lawyer
My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.
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A Guide To New Russia Sanctions For Foreign Financial Cos.
Attorneys at Foley Hoag take foreign financial companies on a deep dive into the compliance advice the U.S. Office of Foreign Assets Control issued after President Joe Biden's December executive order widened a Russian import ban and authorized sanctions against businesses that transact with Russia's military-industrial base.
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How Russia Sanctions Bills Could Reshape Asset Forfeiture
Several U.S. legislative proposals to seize billions in frozen Russian assets for post-war reconstruction of Ukraine would bypass traditional asset forfeiture guardrails, making it crucially important that practitioners remain vigilant and understand when to proactively engage with the government, say attorneys at Kasowitz.
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Series
The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
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Ex-OpenSea Staffer Case May Clarify When Info Is Property
In considering the appeal of a former OpenSea manager’s wire fraud conviction in U.S. v. Chastain, the Second Circuit may soon provide guidance about whether economic information is traditional property in certain insider trading prosecutions — a theory of fraud that the U.S. Supreme Court has repeatedly narrowed, say attorneys at Debevoise.
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Despite HHS Opinion, Gift Card Giveaways Require Caution
Though the U.S. Department of Health and Human Services' Office of Inspector General recently determined that a healthcare consulting firm's gift card plans do not violate the Anti-Kickback Statute, the opinion does not suggest blanket approval for providing gift cards in exchange for referrals, say Ragini Acharya and Matthew Deutsch at Husch Blackwell.
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Takeaways From SEC's Aggressive Cybersecurity Moves
The U.S. Securities and Exchange Commission's intensifying policy on cybersecurity and securities violations in the wake of a data breach — like its enforcement action against SolarWinds and its security officer — has emboldened shareholders to file related suits, creating a heightened threat to public companies, say attorneys at Baker McKenzie.
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Considerations For Lawyer Witnesses After FTX Trial
Sam Bankman-Fried's recent trial testimony about his lawyers' involvement in FTX's business highlights the need for attorney-witnesses to understand privilege issues in order to avoid costly discovery disputes and, potentially, uncover critical evidence an adversary might seek to conceal, says Lawrence Bluestone at Genova Burns.