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White Collar
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June 10, 2024
Chinese Dissident's Banker Lied About Accounts, Jury Hears
The former head of banking for Miles Guo, the prominent Chinese dissident also known as Ho Wan Kwok, testified in Manhattan federal court Monday that he lied to financial institutions about a number of investment entities that are now the subject of $1 billion fraud charges.
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June 10, 2024
YSL Atty Jailed For Contempt Ruling Over 'Sacrosanct' Convo
The defense counsel for Atlanta rapper Young Thug was ordered to spend the next 10 weekends in jail after being held in contempt Monday afternoon for refusing to divulge how the attorney learned of a purported conversation behind closed doors between prosecutors, a witness and the judge presiding over the case.
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June 10, 2024
Amid FBI Probe, Troubled Law Firm Gets Fees Win At 5th Circ.
An embattled Texas law firm has won another shot to secure fees for its work on hurricane-related cases in Louisiana, the Fifth Circuit ruled, one day after the FBI revealed it was investigating the firm over its client solicitation practices.
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June 10, 2024
Menendez Likely Knew About Mercedes Bribe, Jury Told
A former New Jersey insurance broker testified Monday in New York federal court that he never spoke directly to U.S. Sen. Robert Menendez about providing the down payment and monthly installments for a luxury car for his wife, but indicated that he suspected the senator knew about the arrangement.
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June 10, 2024
Lin Wood's Ex-Colleagues Push To Keep Fraud Claims In Trial
Former law partners of controversial attorney Lin Wood have urged a Georgia federal court to block Wood's request to exclude unadjudicated allegations he committed fraud and contract breach, arguing that the details are relevant in an upcoming trial over the ex-colleagues' claims that Wood defamed them.
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June 10, 2024
Trump Ally Asks If Stay Applies To All Ga. Co-Defendants
As former President Donald Trump asks the Georgia Court of Appeals to hear oral arguments in his appeal of a ruling allowing Fulton County District Attorney Fani T. Willis to continue prosecuting the Georgia election interference case, one of his co-defendants asked for clarity on whether a recent stay applies to every defendant.
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June 10, 2024
9th Circ. To Hear Args In Psilocybin Right-To-Try Case
A Ninth Circuit panel will hear oral arguments in August in an appeal brought by a Seattle doctor seeking to administer psilocybin to terminal cancer patients under state and federal right-to-try laws.
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June 10, 2024
Order Trims Cuomo Suit Over Harassment Probe Documents
A New York state judge has partially dismissed a petition brought by former Gov. Andrew Cuomo seeking dozens of unredacted transcripts of witness interviews as part of the state attorney general's sexual harassment investigation that led to his 2021 resignation.
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June 10, 2024
New 'Access DOJ' Aims To Nix Barriers, Boost Accessibility
The U.S. Department of Justice has announced the launch of an initiative to improve access to its programs and services, including an upcoming project to make it easier to report tips about crime or other violations of law.
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June 07, 2024
Ontrak CEO Had Anxiety Over Souring Cigna Deal, Jury Told
A former Ontrak Inc. consultant testified Friday in the trial of its founder who's accused of trading on insider information about Ontrak's souring relationship with Cigna Healthcare in 2021, telling California federal jurors he frequently expressed anxiety, saying that Ontrak must "save Cigna" and describing the situation as a nightmare.
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June 07, 2024
Ex-Prosecutors Join Effort To Free Imprisoned Binance Exec
More than 100 former federal prosecutors and law enforcement agents have called on the U.S. State Department to ramp up efforts to free Tigran Gambaryan, a Binance compliance executive and former IRS agent, from Nigerian custody over what they call false charges tied to money laundering and tax evasion.
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June 07, 2024
Feds Charge UK Trio Over $2M 'Evolved Apes' NFT Scheme
Three United Kingdom residents face criminal wire fraud and money laundering charges brought by federal prosecutors in Manhattan alleging they misappropriated cryptocurrency worth roughly $2 million as part of a "rug pull scheme" involving the digital assets known as non-fungible tokens.
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June 07, 2024
Terraform Funder Must Face Class Claims In Illinois
Terraform Labs' financial backer Jump Trading LLC cannot consolidate a pair of proposed class actions accusing it of propping up the failing crypto platform, with a federal judge ruling that purchasers of a massively devalued crypto token can keep their lawsuit against the high-speed trading firm in Illinois.
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June 07, 2024
Conn. Judge Pushes State For Proof In $11M Kickback Case
The Connecticut state judge presiding over an $11 million false claims and kickbacks case against a compounding pharmacy appeared unconvinced Friday that the defendants submitted false claims for payment, peppering the government's counsel with requests to support assertions with case law and evidence that was put on at trial.
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June 07, 2024
Chicago-Area Man Charged With $60M COVID Test Fraud
A suburban Chicago man is facing healthcare fraud and money laundering charges over more than $60 million in Medicare reimbursement claims for over-the-counter COVID-19 test kits that were allegedly never provided, including thousands of tests for dead people.
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June 07, 2024
Trump Can Bring Atty To Presentence Interview
A New York judge ruled Friday that Donald Trump can bring his attorney with him when he sits down with a New York City probation officer for a presentence interview, granting an unusual accommodation to the former president before he is sentenced for his criminal conviction next month.
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June 07, 2024
SEC Fines Ex-AstraZeneca Insider $1.4M For Merger Trades
The U.S. Securities and Exchange Commission has ordered a former AstraZeneca employee to pay $1.4 million to settle claims he used nonpublic information to trade CinCor Pharma shares ahead of the public announcement that the two companies would merge.
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June 07, 2024
Hunter Biden Prosecutors Wrap Up Case As Daughter Testifies
Federal prosecutors who say Hunter Biden lied about his crack addiction when he bought a gun in 2018 wrapped up their case Friday with expert testimony about cocaine residue and street dealer lingo, as Biden's daughter kicked off testimony for the defense.
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June 07, 2024
6th Circ. Revives Investors' Suit Over Leech Tishman Advice
A Sixth Circuit panel has revived a group of investors' claims that Pittsburgh-based Leech Tishman Fuscaldo & Lampl's lawyers gave fraudulent and negligent advice about clean energy investments that turned out to be a Ponzi scheme, reasoning that a one-year statute of limitations had been tolled for some claims and didn't apply to others.
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June 07, 2024
Connecticut Man Ran Illegal $1M Crypto Exchange, Feds Say
A 55-year-old Connecticut man is accused of ignoring warnings and operating an unlicensed exchange that charged fees for converting more than $1 million in cash, checks and money orders into cryptocurrency without a required license from the state banking commissioner, federal prosecutors announced Friday.
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June 07, 2024
Galvion To Pay $2.5M For Alleged US Gear With Foreign Parts
Military gear company Galvion Ltd. has agreed to a $2.5 million settlement to resolve allegations that it sold gear containing foreign-sourced components to the U.S. government despite knowing the components had to come from the United States, the U.S. Department of Justice announced.
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June 07, 2024
Cherokee Man Asks High Court To Undo Tribal Tag Charges
A Cherokee Nation man is asking the U.S. Supreme Court to overturn a Michigan Supreme Court order that denied him the chance to appeal his traffic stop convictions, arguing that the state must be barred from broadening the definition of "registration plate" in regard to tribal-licensed tags.
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June 07, 2024
Texas AG, Spirit AeroSystems Duel Over Safety Probe
Spirit AeroSystems Inc. and Texas Attorney General Kenneth Paxton each asked a federal court for an early win in their dispute over the state's probe into Spirit's management, with Spirit arguing the state's Request to Examine statute violates the Fourth Amendment, and Paxton arguing it is a constitutionally compliant subpoena.
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June 07, 2024
Minn. Jury Convicts 5 In Food Aid Fraud Trial Marred By Bribe
A Minnesota federal jury on Friday convicted five out of seven defendants on a litany of charges alleging they schemed to defraud a federal food aid program during the COVID-19 pandemic, days after one juror told of being offered a $120,000 bribe to vote for acquittal.
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June 07, 2024
'Deceit On Deceit': 7th Circ. OKs Atty's Asset-Hiding Sentence
The Seventh Circuit Court of Appeals upheld a Chicago-area lawyer's three-year sentence for hiding over $350,000 in her brother's bankruptcy, finding two sentence enhancements were properly applied since she "layered deceit upon deceit" to try to conceal assets and cover her tracks.
Expert Analysis
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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.
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Justices' Trump Ballot Ruling: Purposivism In Textualist Garb
The U.S. Supreme Court’s Trump v. Anderson decision earlier this week, allowing former President Donald Trump to remain on state primary ballots, alleviates uncertainty and minimizes the potential for abuse in future cases, but is difficult to square with the court’s own account of its textualist interpretive methods, says Will Havemann at Hogan Lovells.
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Opinion
UK Whistleblowers Flock To The US For Good Reason
The U.K. Serious Fraud Office director recently brought renewed attention to the differences between the U.K. and U.S. whistleblower regimes — differences that may make reporting to U.S. agencies a better and safer option for U.K. whistleblowers, and show why U.K. whistleblower laws need to be improved, say Benjamin Calitri and Kate Reeves at Kohn Kohn.
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Think Like A Lawyer: Forget Everything You Know About IRAC
The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.
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Zero-Point Offender Eligibility May Hinge On Meaning Of 'And'
Some white collar defendants’ eligibility for the new zero-point offender sentencing adjustment comes down to whether the word “and” really means “and” — a question the U.S. Supreme Court is set to resolve in its upcoming Pulsifer v. U.S. decision, which could affect thousands of incarcerated people, say Brandon McCarthy and Nikita Yogeshwarun at Katten.
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Valeant Ruling May Pave Way For Patent-Based FCA Suits
The Ninth Circuit’s recent ruling in Silbersher v. Valeant marks a significant development in False Claims Act jurisprudence, opens new avenues for litigation and potentially raises the stakes for patent applicants who intend to do business with the government, say Joshua Robbins and Rick Taché at Buchalter.
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The Corporate Transparency Act Isn't Dead Yet
After an Alabama federal court's ruling last week rendering the Corporate Transparency Act unconstitutional, changes to the law may ultimately be required, but ongoing compliance is still the best course of action for most, says George Singer at Holland & Hart.
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Complying With Enforcers' Ephemeral Messaging Guidance
Given federal antitrust enforcers’ recently issued guidance on ephemeral messaging applications, organizations must take a proactive approach to preserving short-lived communications — or risk criminal obstruction charges and civil discovery sanctions, say attorneys at Manatt.
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New FinCEN Guide Provides Useful BOI Context For Banks
Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership information database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.
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How Firms Can Ensure Associate Gender Parity Lasts
Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.
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How Echoing Techniques Can Derail Witnesses At Deposition
Before depositions, defense attorneys must prepare witnesses to recognize covert echoing techniques that may be used by opposing counsel to lower their defenses and elicit sensitive information — potentially leading to nuclear settlements and verdicts, say Bill Kanasky and Steve Wood at Courtroom Sciences.
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Opinion
OFAC Should Loosen Restrictions On Arbitration Services
The Office of Foreign Assets Control regulations should be amended so that U.S. persons can provide arbitration services to sanctioned parties — this would help align OFAC policy with broader U.S. arbitration policy, promote efficiency, and effectively address related geopolitical and regulatory challenges, says Javier Coronado Diaz at Diaz Reus.