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White Collar
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March 17, 2025
NYC To Pay $140M To End Taxi Drivers' Unfair Suspension Suit
New York City has agreed to pay $140 million to settle a nearly two-decade-old federal class action alleging its practice of summarily suspending licenses for taxi drivers who've been arrested but not yet convicted deprives them of due process by denying them meaningful opportunities to challenge their suspensions.
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March 17, 2025
9th Circ. Says Capital One Cyberattacker Sentence Too Light
A split Ninth Circuit panel Monday said a lower court judge was too lenient in sentencing a former Amazon.com Inc. coder to probation for orchestrating one of the nation's latest data breach crimes, finding that the district court judge erred in finding her actions were not "malicious."
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March 17, 2025
Florida Businessman Pleads Guilty To Hiding $20M From IRS
A Florida businessman faces up to five years in prison after he pled guilty Monday to hiding $20 million in Swiss bank accounts from the Internal Revenue Service.
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March 17, 2025
Execs Stole $5.4M In Fla. Trucking Co. Investments, SEC Says
The U.S. Securities and Exchange Commission has brought a Florida federal lawsuit against three principal members of a trucking company over securities violations, alleging that they raised at least $5.4 million after falsely promising investors significant profits but returned only a fraction of the money.
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March 17, 2025
Ex-Flooring Co. Exec Gets 7½ Years For $1.8M Fraud Scheme
Flooring manufacturer Mohawk Industries Inc.'s former head of information technology has been hit with a 7½-year prison sentence after admitting to masterminding a $1.8 million scheme to rip off the company, taking a guilty plea just days before a trial where his co-conspirators were set to testify against him.
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March 17, 2025
Okla. Gov. Looks To Dismiss Tribe's Jurisdiction Dispute
Oklahoma Gov. Kevin Stitt is asking a federal court to dismiss a paused jurisdiction dispute between the Muscogee (Creek) Nation and the city of Tulsa, or be allowed to intervene, arguing that the municipality has signaled a willingness to abandon the defense of the state's interests.
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March 17, 2025
'Jailhouse Lawyer' Admits Firing Off Error-Filled Filings
A convicted fraudster accused of duping people into paying him for legal work told a Manhattan federal jury on Monday that he "wanted to help people," before a prosecutor showed evidence that he "cut and pasted" often-sloppy court papers in rapid-fire fashion.
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March 17, 2025
SEC Says Ex-CFO Cooked Pot Co. Acreage's Books
The former chief financial officer of cannabis company Acreage faces U.S. Securities and Exchange Commission allegations that he covered up the company's attempt to inflate its 2019 cash balance with a so-called round-trip transaction involving an affiliate.
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March 17, 2025
May Trial Set For Ex-Conn. Official's New Corruption Charges
A Connecticut federal judge said Monday that former Constitution State budget official Konstantinos Diamantis and ex-lawmaker Christopher Ziogas will go to trial on May 7 for claims they respectively took and paid bribes to stop a state audit of Ziogas' fiancée, who has admitted to healthcare fraud.
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March 17, 2025
Ex-Haiti Mayor Hid Atrocities To Secure Green Card, Jury Told
The former mayor of a remote Haitian town led a rampage of violence against political opponents and then lied about the hand he played in the deaths and torture to get into the United States with a green card, a Justice Department lawyer told a Boston federal jury Monday.
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March 17, 2025
Georgia Justices Urged To Revive Trump Election Charges
Prosecutors argued that the Georgia Supreme Court should reinstate certain criminal charges against President Donald Trump, former New York Mayor Rudy Giuliani and others alleging interference in the 2020 presidential election, saying lower courts wrongly dismissed the charges because of the indictment's purported lack of detail.
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March 17, 2025
Former DOJ, FCC Official Joins Morgan Lewis In DC
Morgan Lewis & Bockius LLP has grown its telecommunications, media and technology practice in Washington, D.C., with the addition of a former senior Federal Communications Commission and U.S. Department of Justice official, the firm announced on Monday.
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March 17, 2025
Houston Midwife Arrested In Texas' 1st Criminal Abortion Case
A Houston-area midwife has been arrested after an investigation by the Texas attorney general's office for allegedly providing illegal abortions, Attorney General Ken Paxton announced Monday, the first such criminal charges brought since the state issued its near-total abortion ban.
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March 17, 2025
Ex-Seton Hall Law Worker Avoids Jail In Embezzlement Case
A former employee of Seton Hall University School of Law was sentenced Monday to two years of probation with one year of electronic monitoring for her guilty plea in an embezzlement scheme that defrauded the school of $1.3 million over 13 years.
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March 17, 2025
Pa. Judge Facing Fraud Charges Asks For Trial Delay
The York County, Pennsylvania, Court of Common Pleas judge under indictment for fraud, witness tampering and obstruction of justice related to his allegedly misusing unemployment relief funds to pay his law firm's employees during the COVID-19 pandemic has asked a federal court to delay his trial until at least June in order to review discovery.
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March 14, 2025
Qatari Sheikh's Billions Invoked In $1M Scam, SEC Claims
A purported wealth management company and its managing member face U.S. Securities and Exchange Commission fraud allegations over a pair of $1 million dollar schemes, including one involving an elaborate ruse invoking ties to the wealth of the royal family of Qatar.
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March 14, 2025
PE Fund Accuses Ex-CEO Of Stealing To Pay Divorce Atty
A former private equity CEO has been sued by a Denver-based fund in Colorado state court for allegedly using its money to pay his divorce lawyer and for other personal expenses, following a settlement earlier this year with federal securities regulators over claims he improperly charged two other funds.
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March 14, 2025
'Pig Butchering' Crypto Site Must Pay $2.5M, Judge Says
A purported crypto trading platform has been ordered to pay nearly $2.5 million after failing to respond to U.S. Commodity Futures Trading Commission claims that it was at the heart of a so-called pig-butchering scheme — or a scam that sees victims fleeced by fictitious, chatty social media users.
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March 14, 2025
5th Circ. Affirms Energy Exec's Insider Trading Conviction
The Fifth Circuit upheld a Texas energy executive's conviction for insider trading on natural gas futures based on the constitutionality of federal laws and regulations that criminalize manipulative commodity deals.
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March 14, 2025
Par Funding Conspirator Gets 11 Years For Fraud, Atty Assault
A Pennsylvania federal judge has sentenced Par Funding principal James "Jimmy" LaForte to 11 years and four months in prison for helping his family run a $404 million racketeering conspiracy and violently assaulting Par Funding receivership's court-appointed counsel in a position prosecutors described as the loan company's "loyal attack dog."
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March 14, 2025
NC Ex-Doctor Gets 2.5 Years For Drug Test Billing Scheme
A 72-year-old doctor in North Carolina was sentenced Friday to two and a half years in prison and ordered to hand over $2 million in restitution for a fraudulent billing scheme involving medically unnecessary drug tests, prosecutors said.
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March 14, 2025
Three Arrows Beats FTX To Get $1.5B Bankruptcy Claim
The liquidators of failed cryptocurrency hedge fund Three Arrows Capital have prevailed in a dispute with FTX Trading Ltd. over the allowance of a $1.53 billion bankruptcy claim, with a Delaware judge deciding to grant Three Arrows' bid to change its original claim despite FTX asserting that the move was made in bad faith.
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March 14, 2025
1st Circ. Asked To Look At Takeda Invoice Fraud Conviction
The husband of a former Takeda Pharmaceuticals vice president is appealing his fraud conviction and 2½-year prison term over a $2.3 million bogus invoice scheme, according to a Friday notice filed to the First Circuit.
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March 14, 2025
Ex-Ozy Media Employee Avoids Prison After Cooperating
A former Ozy Media employee who became a government cooperator and testified at the fraud trial of the company and its founder Carlos Watson was sentenced to time served Friday.
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March 14, 2025
Theft Ring Member Who Stole Warhol Paintings Gets 8 Yrs.
A man who admitted to participating in a 20-year art and sports memorabilia theft ring targeting Andy Warhol paintings and Yogi Berra's MVP plaques across multiple states was sentenced to eight years in prison by a Pennsylvania federal judge on Thursday, according to the U.S. Department of Justice.
Expert Analysis
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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.
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Identifying Deepfakes During Evidence Collection, Discovery
Excerpt from Practical Guidance
Attorneys must familiarize themselves with the tools used to create and detect deepfakes — media manipulated by artificial intelligence to convincingly mimic real people and events — as well as best practices for keeping this fabricated evidence out of court, says Bijan Ghom at Saxton & Stump.
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An Associate's Guide To Career Development In 2025
As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
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The Securities Litigation Trends That Will Matter Most In 2025
2025 is shaping up to be a significant year for securities litigation, as plaintiffs and defendants alike navigate shifting standards for omission theories of liability, class certification, risk disclosure claims and more, say attorneys at Willkie.
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How White Collar Enforcement May Shift In Trump's 2nd Term
After President-elect Donald Trump returns to the White House next month, the administration’s emphasis on immigration laws, drug offenses and violent crime will likely reduce the focus on white collar crime overall, but certain areas within the white collar world may see increased activity, say attorneys at Keker Van Nest.
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New Trump Admin May Bring Financial Oversight Turbulence
As President-elect Donald Trump prepares to begin his second term, his top financial market regulatory and securities law enforcement appointees, campaign promises, and regulatory preferences foretell a period of muddy regulatory waters, say attorneys at Kroll.
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The Justices' Securities Rulings, Dismissals That Defined '24
The U.S. Supreme Court's 2024 securities rulings led to increased success for defendants' price impact arguments, but the justices' decisions not to weigh in on important issues relating to the Private Securities Litigation Reform Act's pleading requirements may be just as significant, say attorneys at Skadden.
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Series
Fixing Up Cars Makes Me A Better Lawyer
From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.
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Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.
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Key Rulings On Sentencing Guidelines After Loper Bright
The U.S. Supreme Court's landmark decision in Loper Bright v. Raimondo raised questions as to when and whether courts should defer to the U.S. Sentencing Guidelines' commentary in disputes over the guidelines' meaning — but some recent appellate court rulings provide insights for defense counsel in this area, say attorneys at Foley & Lardner.