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White Collar
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July 22, 2024
Hunter Biden Drops Suit Against Fox News Over 'Mock Trial'
Hunter Biden has dropped a Manhattan federal court lawsuit against Fox News over a six-part "mock trial" the cable network broadcasted that featured a fictional trial on two charges that Biden never actually faced.
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July 22, 2024
Boston Fund Can't Duck SEC's Unregistered Dealer Case
A Massachusetts federal judge on Monday kept alive U.S. Securities and Exchange Commission allegations that Boston investment firm Auctus Fund violated securities laws by failing to register as a broker-dealer when harvesting deeply discounted shares of cash-strapped public companies through debt agreements.
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July 22, 2024
Bus Parts Co. To Pay Up To $4M To End Criminal Fraud Probe
French bus parts supplier CBM will pay up to about $4 million and enter into a non-prosecution agreement with the U.S. government to end an investigation into an alleged scheme to pass off generic parts to U.S. transit authorities as brand-name parts, Manhattan federal prosecutors said Monday.
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July 22, 2024
Ex-Fed. Judge's Misconduct Prompts New Criminal Trial Bid
Alleged misconduct by former Alaska federal Judge Joshua Kindred and a prosecutor he had a relationship with should undo a defendant's recent cyberstalking conviction in the judge's court, that defendant has said.
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July 22, 2024
Catching Up With Delaware's Chancery Court
A $6 million bank fee, a $42.5 million shopping mall deal, some questionable Amazon deliveries and long-ago expired ketchup: it was all part of the comings and goings in Delaware's Court of Chancery last week. New cases involved mining and cybersecurity companies, board takeovers, "weaponized" director election provisions, and legal fees following a $3.1 billion telecom merger. In case you missed it, here's the latest from the Chancery Court.
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July 22, 2024
'Wolf Of Airbnb' Gets 51 Mos. As Judge Sees Lack Of Remorse
A Manhattan federal judge hit the Florida man who styled himself the "Wolf of Airbnb" with over four years in prison Monday, saying the risk is high that he will break the law again after scamming New York City landlords.
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July 22, 2024
SEC Launches Multiagency Fraud Council
The U.S. Securities and Exchange Commission has announced that it is creating the Interagency Securities Council, which will bring together federal, state and local regulatory and law enforcement professionals quarterly to discuss the latest in "scams, trends, frauds, and mitigation strategies."
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July 19, 2024
Santos Can't Duck Charges Ahead Of Trial, Judge Says
A New York federal judge on Friday refused to throw out identity theft and theft of public money charges against former U.S. Rep. George Santos, rejecting his arguments that the charges were too vague to survive.
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July 19, 2024
Kavanaugh Murder-Attempt Suspect Set To Face Trial
A man charged with attempting to kill U.S. Supreme Court Justice Brett Kavanaugh has failed to reach a plea deal after nearly two years of negotiations, setting his case up for trial in Maryland federal court, federal prosecutors said Friday.
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July 19, 2024
3rd Circ. Reverses Court on 90-Day EEOC Clock Ruling
The Third Circuit has revived a New Jersey state employee's sex harassment lawsuit against her employer, finding that a lower court incorrectly calculated when the 90-day clock for her to file suit started after her attorney learned the Equal Employment Opportunity Commission would not pursue her claim.
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July 19, 2024
SEC Wins $1.1M Penalty Against Crypto CEO
A New York federal judge ordered the CEO of bitcoin mining firm MGT Capital Investments Inc. to pay a $1.1 million civil penalty for making misstatements in contribution to an alleged pump-and-dump scheme, even though the defendant had argued the impact of his statements on investors was negligible.
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July 19, 2024
Berkshire Bank Says It's Not At Fault For $90M Ponzi Scheme
Berkshire Bank asked a New York federal judge to toss a proposed class action seeking to hold it liable for providing financial services to a bankrupt local business person whom the investor accused of operating a $90 million Ponzi scheme, saying the investor does not show Berkshire did anything more than provide routine banking services.
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July 19, 2024
SEC Sues Brokers Linked To Alleged $112M Truck Co. Fraud
The U.S. Securities and Exchange Commission sued two Florida men connected to a Ponzi-like scheme involving a trucking and logistics business, saying the pair illegally sold most of the $112 million worth of unregistered company securities to victims in a fraud targeting the Haitian-American community.
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July 19, 2024
Guo Trustee Reboots Civil RICO Case After NY Conviction
The Chapter 11 trustee overseeing the Connecticut bankruptcy of Chinese exile Miles Guo has filed a notice that lifts a March stay on civil RICO and alter ego claims after the debtor's criminal conviction this week on racketeering conspiracy, wire fraud, securities fraud and money laundering charges in the Southern District of New York.
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July 19, 2024
Pa. Judge Orders Accused RE Fraudster To Pretrial Detention
A Pennsylvania federal judge has ordered an accused real estate fraudster to pretrial detention, finding that his previously undisclosed ties to Panama and the fact that he is charged with using fake identities in furtherance of an alleged scheme make him a flight risk.
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July 19, 2024
Edwin Coe Adds To Team Ahead Of Planned UK Tax Changes
Edwin Coe LLP is preparing for an expected surge in disputes following the U.K.'s planned tax changes by hiring as a partner a Harbottle & Lewis lawyer with expertise in litigation and tax planning, according to a news release.
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July 19, 2024
Fla. Man Charged With Selling Fake Tribal Jewelry In Wis.
A Florida man has been charged with several fraud-related counts after he was allegedly caught selling fake Native American jewelry at arts and crafts shows across the country, according to a grand jury indictment handed down in Wisconsin federal court.
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July 19, 2024
2 Foreign Nationals Cop To Roles In Ransomware Group
Two Russian nationals have admitted to participating in the LockBit ransomware group and collectively taking more than $2 million through ransomware attacks on victims ranging from individuals and small businesses to hospitals, schools, nonprofit organizations and government agencies, U.S. Attorney Philip R. Sellinger announced Thursday.
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July 19, 2024
Jan. 6 Witness Says Defamation Suit Has 'Little Substance'
Former Trump White House aide and Jan. 6 committee witness Cassidy Hutchinson renewed her calls Thursday to spike a defamation lawsuit from a former business partner of Hunter Biden, arguing her impressions of him described in her book aren't enough to stand up his claim.
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July 19, 2024
DOJ Seeks Probe Of Ex-Fed. Judge After 9th Circ. Report
The U.S. Department of Justice has asked its internal watchdog to look into allegations made by the Ninth Circuit that now-resigned Alaska federal Judge Joshua Kindred had inappropriate relationships with several attorneys and created a hostile work environment, the DOJ confirmed to Law360 Friday.
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July 19, 2024
Ex-Pharma Sales Exec Denies Fake Prescription Scheme
The former vice president of sales for pharmaceutical company U.S. Compounding Inc. pled not guilty in Manhattan federal court Friday to forging fake horse drug prescriptions in order to juice revenues.
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July 19, 2024
Greenberg Traurig Adds Former SEC Regional Director In SF
A former regional director for the U.S. Securities and Exchange Commission's Salt Lake City office has left the public sector to join Greenberg Traurig LLP in San Francisco.
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July 19, 2024
Regeneron Rips DOJ's FCA Suit As 'Divorced From Reality'
Regeneron Pharmaceuticals Inc. has told a Massachusetts federal judge that a False Claims Act suit brought by the U.S. Department of Justice claiming the company withheld information about a drug's average sales price was "divorced from reality" and the practice the government was complaining about was commonplace.
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July 18, 2024
DaVita To Pay $34M In Medicare Kickback Whistleblower Suit
Dialysis company DaVita will pay more than $34 million to settle a Medicare fraud case over alleged kickbacks doctors received in exchange for patient referrals, after a whistleblower from the company's C-suite came forward, the U.S. Attorney's Office for the District of Colorado announced Thursday.
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July 18, 2024
Hunter Biden Wants Charges Tossed After Trump Docs Ruling
Hunter Biden on Thursday asked federal judges in Delaware and California to throw out his conviction on felony gun charges and to toss other charges of tax evasion, citing a Florida federal judge's order disqualifying the special prosecutor in Donald Trump's classified documents case.
Expert Analysis
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7 Common Myths About Lateral Partner Moves
As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.
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Series
Cheering In The NFL Makes Me A Better Lawyer
Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.
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Perspectives
Compassionate Release Grants Needed Now More Than Ever
After the U.S. Sentencing Commission's recent expansion of the criteria for determining compassionate release eligibility, courts should grant such motions more frequently in light of the inherently dangerous conditions presented by increasingly understaffed and overpopulated federal prisons, say Alan Ellis and Mark Allenbaugh at the Law Offices of Alan Ellis.
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Communication Is Key As CFPB Updates Appeals Process
Though a recently updated Consumer Financial Protection Bureau rule expands financial institutions' abilities to appeal supervisory decisions, creating strong relationships and open communication channels with CFPB examiners may help resolve disputes faster than the more cumbersome formal process, says Jason McElroy at Saul Ewing.
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Unpacking The New Russia Sanctions And Export Controls
Although geographically broad new prohibitions the U.S., U.K. and EU issued last week are somewhat underwhelming in their efforts to target third-country facilitators of Russia sanctions evasion, companies with exposure to noncompliant jurisdictions should pay close attention to their potential impacts, say attorneys at Shearman.
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Mitigating Whistleblower Risks After High Court UBS Ruling
While it is always good practice for companies to periodically review whistleblower trainings, policies and procedures, the U.S. Supreme Court’s recent whistleblower-friendly ruling in Murray v. UBS Securities helps demonstrate their importance in reducing litigation risk, say attorneys at Arnold & Porter.
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Perspectives
Justices' Double Jeopardy Ruling Preserves Acquittal Sanctity
The U.S. Supreme Court’s unanimous decision last week in McElrath v. Georgia, barring the state from retrying a man acquitted of murder after a so-called repugnant verdict, is significant in the tangled web of double jeopardy jurisprudence for its brief and unequivocal protection of an acquittal’s finality, says Lissa Griffin at Pace Law School.
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Steps For Companies New To Sanctions Compliance
Businesses newly required to implement compliance programs due to the increased breadth of mandatory sanctions and export controls, including 500 additional Russia sanctions announced last Friday, should closely follow the guidance issued by the Office of Foreign Assets Control and other regulators, say Jennifer Schubert and Megan Church at MoloLamken.
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Bank Secrecy Act Lessons For Casinos After DOJ Settlements
The U.S. Department of Justice's recent settlements with the MGM Grand and Cosmopolitan casinos, resolving an investigation into alleged violations of the Bank Secrecy Act, signal a shift in the DOJ's enforcement focus and provide insight into potential pitfalls in anti-money laundering compliance programs, say attorneys at Jenner & Block.
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High Court Forfeiture Case Again Pits Text Against Purpose
In oral arguments Tuesday in McIntosh v. U.S., the U.S. Supreme Court will consider whether a federal court can impose asset forfeiture on a defendant even if it doesn’t comply with timing rules, which may affect the broader interpretation of procedural deadlines — and tees up the latest battle between textualism and purposivism, say Anden Chow and Christian Bale at MoloLamken.
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6 Pointers For Attys To Build Trust, Credibility On Social Media
In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.
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Cos. Must Know How NY, Federal LLC Disclosure Laws Differ
Though New York state's new LLC Transparency Act and the federal Corporate Transparency Act impose similar beneficial owner reporting obligations on limited liability companies, New York LLCs should study the important differences between the laws to ensure they are prepared to comply with both, say Abram Ellis, Olenka Burghardt and Jane Jho at Simpson Thacher.
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More Than Drugs At Stake In High Court's 'Blind Mule' Case
The U.S. Supreme Court's eventual decision in Diaz v. U.S., evaluating whether expert witnesses may testify that most defendants caught with drugs at the border know they are transporting drugs, could have implications for prosecuting everything from complex financial crimes to gun and drug cases, says Kenneth Notter at MoloLamken.
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A Refresher On Witness Testimony In 3 Key Settings
The recent controversy over congressional testimony from university presidents about antisemitism on campus serves as a reminder to attorneys about what to emphasize and avoid when preparing witnesses to testify before Congress, and how this venue differs from grand jury and trial proceedings, say Jack Sharman and Tyler Yarbrough at Lightfoot Franklin.
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A Post-Mortem Analysis Of Stroock's Demise
After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.