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White Collar
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May 31, 2024
NJ Human Trafficking Chief Named Acting County Prosecutor
The lead attorney at the New Jersey Division of Criminal Justice's human trafficking unit will soon hold a new role as the acting county prosecutor for Gloucester County.
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May 31, 2024
Ohio's Jailed Ex-Speaker Denies Misusing Campaign Funds
Former Ohio House Speaker Larry Householder on Friday pled not guilty to misappropriating his campaign funds to cover legal fees for the notorious bribery scandal that landed him a 20-year prison sentence.
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May 31, 2024
2 Estonians Charged In $575M Crypto, Laundering Schemes
Two Estonian nationals have been extradited to Seattle to face charges that they operated a pair of schemes that brought in $575 million, including a fraud on investors that touted fake cryptocurrency mining capacity.
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May 31, 2024
Trump Condemns NY Trial As Verdict Echoes In DC
A day after his conviction on 34 felony counts, former president Donald Trump on Friday attacked the Manhattan jury's verdict in a lengthy speech that mischaracterized multiple elements of the case as the decision reverberated through Washington, D.C.
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May 31, 2024
Disbarring Giuliani Would 'Protect The Public,' DC Panel Says
A Washington, D.C., attorney ethics panel agreed Friday that Rudy Giuliani's role in former President Donald Trump's attempt to overturn Pennsylvania's presidential election in 2020 amounted to misconduct "of the utmost seriousness," and that disbarring him would "protect the public, the courts, and the integrity of the legal profession."
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May 31, 2024
In Rarity, 1 Party's Judges Gain 100% Control Of Circuit Bench
At the First Circuit, the judges' robes are all black, but the judges are all blue. It's a new and unusual instance of one political party's judicial picks controlling each active seat on a federal appeals court, and the Democratic dominance could prove magnetic for ideologically charged litigation.
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May 30, 2024
Exec Found Liable For 'Shadow Trading' Seeks New Trial
A former executive of biopharmaceutical company Medivation Inc. whom a jury found liable for using inside information from his company when he purchased stock in a rival pharmaceutical maker has moved for a new trial in the U.S. Securities and Exchange Commission's novel "shadow trading" case.
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May 30, 2024
Ga. Judge Gives Fraudster 'Damn Good' 1-Year Sentence
A Georgia federal judge on Thursday handed down what he called a "pretty damn good" sentence of a year and a day to a man who pled guilty to procuring names and social security numbers that were used in a $9.4 million fraudulent invoice scheme against Amazon.
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May 30, 2024
Musk Won't Appeal Deposition Order In SEC's Twitter Case
Elon Musk has agreed to waive his right to appeal a California federal judge's order forcing him to testify again in the U.S. Securities and Exchange Commission's suit over his $44 billion acquisition of Twitter, now known as X, according to a stipulation filed Thursday.
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May 30, 2024
Ex-Deutsche Bank Trader Gets 3½ Years For Crypto Scheme
A former Deutsche Bank associate has been sentenced to three years and five months in prison after pleading guilty in September to wire fraud and access device fraud in connection with a $1.5 million cryptocurrency investment scheme, Brooklyn federal prosecutors announced Thursday.
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May 30, 2024
Autonomy VP Declines To Take Stand As Fraud Trial Nears End
Testimony wrapped Thursday in a California federal criminal trial over claims that former Autonomy CEO Michael Lynch and finance vice president Stephen Chamberlain duped HP into overpaying billions for the British tech company, as Chamberlain opted not to testify in his own defense after Lynch stepped off the witness stand.
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May 30, 2024
Chicago Kiosk Salesman Gets 1 Year For Filing False Returns
An electronic-sweepstakes kiosk salesman from Chicago was sentenced to a year in prison for filing false tax returns that included more than $500,000 in inflated business expenses, according to Illinois federal court documents.
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May 30, 2024
NC Insurance Mogul Chases Acquittal After Bribery Retrial
An insurance magnate besieged by litigation and twice convicted on charges of trying to bribe North Carolina's insurance commissioner is looking to undo the latest jury verdict, saying there wasn't enough evidence during the second trial to convict.
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May 30, 2024
Here's What Comes Next After Trump's Conviction
Donald Trump's forthcoming appeal of his historic conviction Thursday in the New York hush money case could include challenges to the state's evidence and jury instructions, but it's unlikely the case will be resolved before Election Day.
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May 30, 2024
Feds Say NC Man Ran $1M Ponzi With 'Tiger-Wolf' Firm
A self-styled trader and his unregistered hedge fund Tiger-Wolf Capital face wire fraud and securities fraud claims brought by North Carolina federal prosecutors and the U.S. Securities and Exchange Commission over an alleged $1 million scheme that took in over 100 would-be investors.
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May 30, 2024
Donald Trump Convicted Of All 34 Counts In NY Trial
Former President Donald Trump was convicted by a Manhattan jury Thursday of 34 felonies over a plot to illegally sway the 2016 presidential election in his favor by concealing hush money payments to porn actress Stormy Daniels.
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May 30, 2024
Troutman Pepper Fights Kwok Trustee's $2M Clawback Claim
Troutman Pepper Hamilton Sanders LLP has defended its legal work for three entities connected to Ho Wan Kwok, saying the Chinese exile and alleged criminal fraudster's Chapter 11 trustee cannot avoid $2 million in payments to the firm because it earned its fees in good faith.
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May 30, 2024
NJ Atty Gets 5½ Years For $2M Theft, Impersonating Counsel
A New Jersey federal judge sentenced Garden State attorney James Lisa to 66 months in prison Thursday for bilking clients out of more than $2 million and then impersonating his own defense counsel in the course of pursuing a loan while he was out on pretrial release.
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May 30, 2024
Menendez's Wife Hires Coburn Greenbaum For Bribery Case
Nadine Menendez, wife of U.S. Sen. Robert Menendez, has hired Coburn Greenbaum & Eisenstein PLLC partner Barry Coburn to defend her in the government's case accusing her and her husband of accepting bribes from three businessmen.
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May 30, 2024
Mukasey Frenchman Co-Founder, Ex-DOJ Atty Join Dynamis
A longtime white collar defense lawyer and a former federal prosecutor have joined new white collar defense firm Dynamis LLP as partners, adding to its lineup of attorneys with expertise in cryptocurrency and other complex financial matters.
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May 30, 2024
Ex-Air Cargo Exec Who Took $6.7M In Kickbacks Gets 4 Years
A Manhattan federal judge sentenced a German-born former air cargo executive to four years in prison Thursday for a decadelong course of corruption in which he personally took over $6.7 million in kickbacks, saying the wealthy defendant acted out of "pure greed."
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May 30, 2024
Black Business Owners Sue Over Impact Of Transparency Act
The Corporate Transparency Act creates unique burdens on businesses owned by people of color, immigrants and other marginalized groups, the Black Economic Council of Massachusetts and several company owners said in the latest legal challenge to the anti-money laundering law.
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May 30, 2024
Ex-BigLaw Atty Fights 10-Year Sentence In OneCoin Case
A former Locke Lord LLP partner urged the Second Circuit Wednesday to ax his 10-year prison sentence and conviction for laundering around $400 million in proceeds from the global OneCoin cryptocurrency scam, saying the case was contaminated by perjury and errors at the trial court level.
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May 30, 2024
Data Co. Exec, Worker Guilty Of Fraud In Mail Scam Case
A Colorado federal jury on Thursday convicted two former Epsilon Data Management employees for their roles in selling data to mail scammers who preyed on the elderly and vulnerable.
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May 30, 2024
What The Trump Verdict Was Like From Inside The Courtroom
Law360 reporters were providing live updates from the Manhattan criminal courthouse as a jury found Donald Trump guilty of falsifying business records. Here's a blow-by-blow of the historic verdict.
Expert Analysis
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Expect National Security Scrutiny Of Higher Ed To Continue
In 2023, the federal government significantly elevated the national security responsibilities of academic communities, so universities and research laboratories should take a more rigorous approach to research partnerships, say attorneys at Crowell & Moring.
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Anti-Money Laundering Compliance Must Put Officers On Alert
Recent government actions against FTX and other crypto companies have put a laser focus on corporate compliance failures, with added pressure on compliance officers — making the need for personal risk assessment particularly acute given today's novel anti-money laundering issues, say Poppy Alexander at Constantine Cannon and Caleb Hayes-Deats at MoloLamken.
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What To Know About FCA Cybersecurity Enforcement
Now is a good time for practitioners, government contractors and potential relators to review recent developments in cybersecurity-related False Claims Act enforcement, and consider best practices for navigating this space in the new year, say Ellen London at London & Stout, and Li Yu and Molly Knobler at DiCello Levitt.
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Opinion
Stronger Attorney Rules Are Needed To Avoid A Jan. 6 Repeat
Given the key role lawyers played in the events leading up to the Jan. 6, 2021, insurrection, the legal profession must shore up its rules before this year’s presidential election to make clear that lawyers who undermine the rule of law will face severe penalties, including disbarment, says Ray Brescia at Albany Law School.
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What One Litigator Learned Serving On A Jury
Kilpatrick attorney April Isaacson shares insights for trial lawyers from her recent experience serving on a jury for the first time, including lessons about the impact of frequent sidebars, considerations for using demonstratives, the importance of clear jury instructions, and the unconscious habits that can drive jurors mad.
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4 Legal Ethics Considerations For The New Year
As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.
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Bribery Settlement Gives Insight On DOJ Policies
Chemical company Albemarle’s recent $218 million settlement with the government to resolve foreign bribery claims provides valuable data points for companies on the U.S. Department of Justice’s voluntary self-disclosure policy and its clawback pilot program, say Michael DeBernardis and Tiauna Mathieu at Hughes Hubbard.
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SEC Case May Expand Scope Of Insider Trading Liability
The U.S. Securities and Exchange Commission's first-of-its-kind enforcement action against an individual in a case involving "shadow trading" demarcates an expansion of insider trading liability to circumstances in which there is a market connection between the source of information and the issuer of the securities traded, say attorneys at Steptoe.
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Securities Question Stands After Contradicting Crypto Rulings
The debate about the regulation of crypto-assets came to a head in 2023 when two New York federal judges came to opposite conclusions about whether crypto-assets were securities by using the Howey test, highlighting the uncertainty facing the crypto industry as it seeks to resolve definitional questions, say attorneys at Ballard Spahr.
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What Last Year's Trends Mean For Compliance In 2024
In 2023, compliance teams grappled with questions related to artificial intelligence, data analytics and corporate culture — trends that are likely to become even more prominent in the year to come, says Hui Chen at Ropes & Gray.
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What The Law Firm Of The Future Will Look Like
As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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4 PR Pointers When Your Case Is In The News
Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.
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SDNY Ruling Highlights Fed's Broad Master Account Power
In denying a Puerto Rican bank’s recent motion for injunction against the New York Fed, a New York federal court went beyond the specifics of the case in holding that financial institutions have no statutory right to a master account with a Federal Reserve bank, emphasizing the Fed’s unilateral discretion in these matters, say attorneys at Ballard Spahr.
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4 Ways The DOJ Is Changing Its Approach To Insider Trading
The U.S. Department of Justice’s recent increased focus on insider trading cases and the manner in which the DOJ is pursuing prosecutions reflect a break from historical practices and signal that the DOJ is branching into new areas to pursue perceived illicit trading activities, say attorneys at Davis Wright.
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How State AGs Process And Prioritize Consumer Complaints
Recent state attorneys general actions illustrate how their offices triage, monitor and respond to consumer complaints — and why businesses need to be proactive in addressing these issues as they arise, say Meghan Stoppel and Hannah Cornett Land at Cozen O'Connor.