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White Collar
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March 13, 2025
Senate Stablecoin Bill Advances With Democrats Divided
The Republican-led U.S. Senate Banking Committee advanced its stablecoin framework Thursday with the help of Democrats who broke from ranking member Sen. Elizabeth Warren's opposition, while a separate bill on what is being called debanking passed along party lines.
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March 13, 2025
5th Circ. Asks If Enforcement Delay Affects CTA Challenge
The Fifth Circuit has asked for supplemental briefing in a challenge against the Corporate Transparency Act, asking whether the case is affected by the U.S. Treasury Department's recent decision to suspend enforcement of reporting rules for domestic companies.
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March 13, 2025
Auto Repair Biz Exec's Embezzlement Case Ends In Mistrial
A California federal judge has declared a mistrial after a jury was unable to come to a unanimous verdict in an embezzlement case against a former finance executive of RepairPal, a website for auto repair reviews and estimates.
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March 13, 2025
Solicitor General Pick, 2 More DOJ Noms Go To Full Senate
The Senate Judiciary Committee on Thursday voted out of committee the nomination of President Donald Trump's former personal attorney, Dean John Sauer, to be solicitor general and two other nominees for major U.S. Department of Justice roles, all along party lines.
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March 12, 2025
Capital One Nearly Bought Frank For $125M, Javice Jury Told
A Capital One investment banker told a New York federal jury on Wednesday that the lender was eyeing student financial aid startup Frank for a potential $125 million acquisition before backing out, $50 million less than what JPMorgan Chase & Co. ultimately paid for the company, the result of what prosecutors say was a scheme to fraudulently induce JPMorgan to make the purchase.
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March 12, 2025
Crypto Influencer's Counsel Says SEC Will Drop Case
The U.S. Securities and Exchange Commission has agreed to drop its case over cryptocurrency influencer Ian Balina's alleged promotion of so-called SPRK tokens, his attorney said Wednesday.
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March 12, 2025
SEC Says Ex-Allarity Execs Concealed Doomed FDA Approval
The U.S. Securities and Exchange Commission sued three former executives of clinical-stage pharmaceutical company Allarity Therapeutics Inc. in Massachusetts federal court, alleging Wednesday that they schemed to conceal from the public that the company's new drug application for its flagship drug had no chance of gaining regulatory approval.
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March 12, 2025
Binance Asks Judge To Rethink Upholding Terror Victims' Suit
Cryptocurrency exchange Binance and its former CEO Changpeng Zhao have asked a New York federal judge to reconsider his ruling allowing a bulk of claims from a group of Hamas attack survivors to move forward, arguing that the survivors do not allege that Binance had a "close nexus" to the terrorist groups that allegedly used its platforms.
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March 12, 2025
Ex-Atty Gets 3 Years In Prison For Using Fake IDs To Get Jobs
A former attorney has been sentenced to more than three years in prison after pleading guilty to charges related to using false identification in order to obtain jobs at multiple law firms in Florida, California and elsewhere following his disbarment in Ohio, according to federal prosecutors.
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March 12, 2025
Convicted Insurance Magnate Settles SEC's $57M Fraud Suit
Convicted insurance mogul Greg Lindberg has netted a deal with the U.S. Securities and Exchange Commission to resolve claims he misappropriated $57 million in client funds, tying up the civil suit just four months after he copped to related criminal charges.
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March 12, 2025
Crypto CEO Linked To Jack Abramoff Convicted Of Fraud
A California federal jury on Wednesday convicted a cryptocurrency company founder of fraud and money laundering over allegations he stole more than $10 million from tens of thousands of investors in a scheme that involved disgraced ex-lobbyist Jack Abramoff.
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March 12, 2025
Son Of Ex-FIFA VP Avoids Prison In Fraud Case
The son of former FIFA vice president Jack Warner was spared prison time Tuesday, almost 12 years after he pled guilty to falsifying a mortgage application for a Miami condominium and structuring transactions to evade currency reporting requirements.
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March 12, 2025
PwC Singapore Fudged Compliance Test Data, PCAOB Says
PricewaterhouseCoopers' Singapore unit has agreed to pay $1.5 million to settle allegations from the Public Company Accounting Oversight Board that the firm failed to have proper policies and procedures in place for periodic reviews of staff members' financial independence.
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March 12, 2025
Judge Tosses Tax Fraud Claim In Mariana Bribery Case
A federal court dismissed Wednesday a claim connected to allegations of tax fraud in a $310,000 civil asset forfeiture case brought by the U.S. government against a Northern Mariana Islands business after concluding the court lacked jurisdiction.
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March 12, 2025
NC Man Pleads Guilty To Importing Counterfeit Car Airbags
A 31-year-old Raleigh, North Carolina, man who works as an engineer for the state's Department of Transportation has pled guilty to importing 2,500 counterfeit driver-side car airbags and selling several of them, federal prosecutors announced.
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March 12, 2025
Feds Launch 1st FEMA Fraud Charges Over LA Wildfires
Federal prosecutors in Los Angeles announced Wednesday that three people have been arrested for allegedly submitting fake disaster relief applications to the Federal Emergency Management Agency in the wake of the Palisades and Eaton fires, the first such charges to come out of the devastating January blazes.
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March 12, 2025
Ex-Smartmatic Execs Seek FCPA Reprieve After Trump Order
Two former executives of electronic-voting system developer Smartmatic asked a Florida federal judge on Wednesday to push back the schedule in their bribery case while the U.S. Department of Justice reviews pending Foreign Corrupt Practices Act cases.
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March 12, 2025
As Perkins Coie Fights Order, How Will Other Firms Respond?
Perkins Coie LLP, represented by Williams & Connolly LLP, is challenging President Donald Trump's executive order revoking its security clearance and launching investigations into its diversity efforts. But other firms have remained silent, raising questions about the order's potential effects on how firms handle public policy litigation, publicly support their right to defend all clients and pursue hiring initiatives.
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March 12, 2025
Weinstein Evidence Takes Shape Ahead Of Retrial In NY
A New York state judge on Wednesday ruled on evidentiary issues ahead of Harvey Weinstein's retrial on rape and sexual assault charges, as his overturned conviction — vacated due to improperly admitted evidence — loomed over the proceedings.
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March 12, 2025
Fla. Inmate Pleads Guilty To Threatening To Kill Federal Judge
A Florida state prisoner has pled guilty to sending several letters to the federal courthouse in Miami threatening to have gang members kill a certain U.S. district judge and bomb the courthouse and the U.S. Attorney's Office.
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March 12, 2025
Buzbee, Ex-Client Say Roc Nation Can't Exit Conspiracy Suits
Shawn "Jay-Z" Carter's company Roc Nation "spearheaded" efforts to launch malpractice suits against the Buzbee Law Firm in retaliation for a lawsuit the firm filed accusing the rap star of rape, so it cannot exit a Texas federal suit over that effort by claiming a lack of jurisdiction, the firm said.
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March 12, 2025
2nd Circ. Upholds Sanctions In Chinese Billionaire's Ch. 11
The Second Circuit Court of Appeals on Wednesday torpedoed an appeal from the daughter of bankrupt Chinese exile Miles Guo — also known as Ho Won Kwok — and her attorney seeking to overturn a nearly $83,400 discovery sanction, saying the contempt ruling was merited.
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March 12, 2025
Ohio Man Gets 30 Months For $2M Energy Investment Scam
An Ohio man was sentenced to 2½ years in federal prison for his role in a $2 million scheme that duped investors into thinking they were funding the construction of a plant that would convert biodegradable waste into green energy, acting U.S. Attorney Troy Rivetti announced.
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March 12, 2025
Feds, Ex-Cognizant Execs Ink April Date For FCPA Trial
A New Jersey federal judge set an April 7 trial date for the Foreign Corrupt Practices Act case against two former Cognizant Technology Solutions Corp. executives on Wednesday, firming up a case timeline that's been beset by multiple delays, most recently due to the Trump administration's retreat from enforcing the statute.
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March 12, 2025
Ex-Fed Examiner Seems Prison-Bound In Insider Trading Case
A former senior banking supervisor for the Federal Reserve Bank of Richmond who pled guilty to insider trading appears likely to be sentenced to prison later this month, after both he and prosecutors have asked a Virginia federal judge for a custodial sentence.
Expert Analysis
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The OIG Report: Preparing For Oversight In 2025
Across sectors, Office of Inspector General work plans and challenge reports for 2025 provide a trove of information on the issues and industries that will likely be the focus of government oversight in the year to come, says Diana Shaw at Wiley.
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What To Expect In Higher Ed Enforcement Under Trump
Colleges and universities should prepare for shifting priorities, as President-elect Donald Trump is likely to focus less on antitrust cases and more on foreign relations policy, while congressional oversight of higher education continues to increase, say attorneys at Steptoe.
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Series
NY Banking Brief: All The Notable Legal Updates In Q4
In 2024's final quarter, the New York State Department of Financial Services published guidance on mitigating the rising cybersecurity risks of artificial intelligence and remote technology workers with North Korean ties, and the state attorney general launched an antitrust investigation into Capital One's proposed Discover merger, say attorneys at Haynes Boone.
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How Trial Attys Can Wield Amended Federal Evidence Rules
Trial lawyers should assess recent amendments to four Federal Rules of Evidence and a newly enacted rule on illustrative aids to determine how to best use the rules to enhance pretrial discovery and trial strategy, says Stewart Edelstein, former litigation chair at Cohen & Wolf.
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Series
Exercising On My Peloton Bike Makes Me A Better Lawyer
While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.
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Takeaways From SEC's Mixed Results In '24 Crypto Litigation
Though the U.S. Securities and Exchange Commission's new leadership seems likely to create a more favorable cryptocurrency regulatory environment, it must also confront the consequences of, and lingering questions raised by, the SEC's 2024 policy of investigating and charging cryptocurrency trading platforms for operating unregistered exchanges, say attorneys at Dechert.
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Opinion
Aviation Watch: How Court Nixed Boeing Plea Deal Over DEI
A Texas federal court's rejection of the plea agreement between the U.S. Department of Justice and Boeing over the 737 Max aircraft gratuitously injected the court's views on diversity, equity and inclusion into a case that shouldn't have been a criminal matter in the first place, says Alan Hoffman, a retired attorney and aviation expert.
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Series
In The CFPB Playbook: A Sprint To The Finish Line
The fourth quarter of 2024 was an impressive demonstration of the Consumer Financial Protection Bureau's ability to regulate, enforce and supervise, even on borrowed time following the election results, and we should expect the current bureau to run nonstop until Jan. 20, say attorneys at Covington.
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What FARA Enforcement In 2024 Reveals For The Year Ahead
A number of developments, from indictments to legislation, shaped the Foreign Agents Registration Act enforcement landscape last year, and following the U.S. Department of Justice's recently released long-awaited proposed amendments to the law, 2025 shows no signs of slowing down, says Tessa Capeloto at Wiley.
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How New Fraud Enforcement Tool Affects Gov't Contractors
Government contractors will likely face greater scrutiny under the recently enacted Administrative False Claims Act, which broadens federal agencies' authority to pursue low-dollar fraud claims, but contractors may also find the act makes settlement of such claims easier to negotiate, say attorneys at Wiley.
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
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Consultants Should Be Aware Of DOJ's Potential New Reach
The U.S. Department of Justice's recent first-of-its-kind settlement with McKinsey & Co. indicates not only the DOJ's more aggressive stance toward businesses' potential criminal wrongdoings, but also the benefits of self-disclosure and cooperation when wrongdoing becomes apparent, says Dom Caamano at Kibler Fowler.
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New Year, New Risks: 8 Top Cyber Issues For Finance In 2025
As financial institutions forge ahead in 2025, they must strike a delicate balance between embracing technological innovation and guarding against its darker threats, which this year could include everything from supply chain vulnerabilities to deepfakes, say attorneys at Baker Donelson.
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Series
Playing Esports Makes Me A Better Lawyer
Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
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Lessons From The SEC's 2024 Crackdown On AI Washing
AI washing was the subject of increased scrutiny from the U.S. Securities and Exchange Commission in 2024 following a surge in the commercial adoption of generative artificial intelligence technologies in 2023, highlighting the importance of transparency, accuracy and accountability when communicating about AI, say attorneys at Perkins Coie.