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White Collar
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December 12, 2024
AT&T Exec Can't Get Bribery Acquittal After Jury Deadlocks
An Illinois federal judge on Thursday denied a former AT&T executive's bid for acquittal on charges he bribed ex-Illinois House Speaker Michael Madigan after his case resulted in a hung jury earlier this year, saying the government presented sufficient evidence of a quid pro quo.
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December 12, 2024
TD Bank Sued Over AML Controls After Ex-Employee's Arrest
Toronto-Dominion Bank and its top brass concealed and downplayed issues with the bank's anti-money laundering controls, according to a class action filed one day after a former employee was arrested and charged with assisting in a money laundering scheme that sent millions of dollars in narcotics proceeds from the U.S. to Colombia.
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December 12, 2024
Wash. Man Gets 41 Months For Gamer-Duping Crypto Scam
A Washington federal judge has sentenced a Spokane man to 41 months in prison for running a crypto scheme in which he allegedly induced victims he met online, including users of dating apps and "Call of Duty" players, and via hailed rides to sink over $350,000 into a phony crypto investment fund.
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December 12, 2024
Judge Troubled By Conduct Of Pot Farmer And State Officials
A federal judge said this week that he's concerned by the "tone and tenor" that both a medical marijuana cultivator and Oklahoma law enforcement officials have taken in a case involving millions of dollars' worth of farm equipment destroyed during an erroneous raid, saying he's going to be looking closely at the conduct of all parties.
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December 12, 2024
2 Deny Joining Would-Be Trump Assassin To Target Journalist
Two New York City men on Thursday denied participating in a plot to kill a noted journalist and Iran critic, pleading not guilty to murder-for-hire charges that claim they worked for a foreign agent who also is tasked with targeting Donald Trump.
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December 12, 2024
Trump Vows Immediate Jan. 6 Pardons As DOJ Doubles Down
President-elect Donald J. Trump said he plans to issue swift pardons for people accused or convicted of rioting at the U.S. Capitol on Jan. 6, 2021, in an effort to keep him in power, as prosecutors said in one case that accepting such a pardon would amount to an admission of guilt.
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December 12, 2024
Former CFO Admits To Stealing $1.3M From SF Law Firms
A former chief financial officer of two San Francisco law firms admitted to stealing more than $1.3 million from his former employers via several fraudulent schemes, including redirecting firm payments to a nonprofit organization he set up privately.
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December 12, 2024
Ex-FBI Informant Admits To False Accusations In Biden Case
A former FBI informant accused of making fake criminal accusations against President Joe Biden and his son, Hunter Biden, will plead guilty to tax evasion and falsifying records in a federal investigation, according to a deal filed Thursday in a California federal court.
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December 12, 2024
Calif. Man Indicted In $8.8M Phishing Scheme
A California man was indicted on charges he participated in a phishing email scheme that stole about $8.8 million from bank accounts belonging to businesses, individuals and the town of Bristol, Rhode Island.
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December 12, 2024
Biden Commutes Nearly 1,500 Sentences In Clemency Record
President Joe Biden announced Thursday he was commuting the prison sentences of nearly 1,500 Americans he said had successfully rehabilitated themselves, the largest number ever in a single day, according to a statement by the White House.
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December 11, 2024
Calif. Judge Admonished After Throwing Papers At Atty
California's Commission on Judicial Performance publicly admonished a state judge Tuesday, saying he violated standards of conduct by throwing papers at an attorney in court and by misleading the commission last year about his planned retirement date, purportedly to influence the outcome of a misconduct investigation at that time.
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December 11, 2024
SEC Must Revisit $23M Demand In Collectibles Fraud Case
A New Jersey federal judge has ordered the U.S. Securities and Exchange Commission to recalculate its $23 million bid for disgorgement in a long-running suit against a sports memorabilia merchant found liable at trial last year for ripping off investors, in part by lying about the value of two contracts signed by baseball legend Jackie Robinson.
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December 11, 2024
Ex-Telecom CEO Charged With Insider Trading On His Own Firing
The U.S. Department of Justice announced Wednesday that former Comtech Telecommunications Corp. CEO Ken Peterman has been charged with insider trading after he used nonpublic information about the company and his own impending termination to profit from the sale of tens of thousands of dollars' worth of Comtech stock.
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December 11, 2024
Pot Farmer Opposes Sanctions In Suit Over Mistaken Raid
An Oklahoma medical marijuana cultivator whose property was destroyed when state drug enforcers mistakenly raided his legal farm is pushing back on efforts to hit him with sanctions for allegedly being belligerent during a deposition, telling a federal court that he's offered to sit down for a second round of questioning.
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December 11, 2024
Ex-Rep. TJ Cox Reaches Plea Deal On Fraud Charges
Former U.S. Rep. T.J. Cox reached a deal with California federal prosecutors and agreed to plead guilty to two charges and pay up to a $3.5 million fine over allegations he stole from his companies and took illegal campaign contributions, according to a plea agreement filed Wednesday.
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December 11, 2024
CFTC Wraps With Last Defendant In IcomTech Crypto Ponzi
The U.S. Commodity Futures Trading Commission's litigation over the IcomTech cryptocurrency Ponzi scheme has come to a close now that a fifth defendant has been ordered to pay restitution for his role in the $3.5 million scheme.
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December 11, 2024
NRA Ordered To Reform Policies After NY Misconduct Verdict
A New York judge ordered changes to the National Rifle Association's board structure and organizational policies Wednesday to "prevent future violations of law," following a jury verdict that found widespread financial misconduct and whistleblower retaliation within the gun group.
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December 11, 2024
Ill. Atty Convicted Of Tax Fraud, Scripting Witness Testimony
An Illinois attorney has been convicted of tax fraud, witness tampering and contempt in a federal court retrial on charges that he filed false tax returns, alongside added charges that he tried to script an employee's testimony and violated court orders, prosecutors announced Wednesday.
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December 11, 2024
SEC Sues Disbarred Calif. Atty And Son For Securities Fraud
The U.S. Securities and Exchange Commission has filed a suit against a father-son duo and a broker for allegedly running a Ponzi-like scheme disguised as an investment company for a start-up content streaming app, raising over $17 million from at least 40 investors.
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December 11, 2024
High Court Bar's Future: Haynes Boone's Daniel Geyser
Daniel L. Geyser of Haynes and Boone LLP is an unconventional U.S. Supreme Court advocate in every respect, from the path he forged to become one of the high court's frequent arguers to the way he runs his current practice from more than half a country away from the nation's capital.
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December 11, 2024
Feds Say TD Bank Worker Helped Launder Drug Money
A former employee of TD Bank NA who worked in Florida has been arrested and charged with assisting in a money laundering scheme that used the Toronto-based financial institution to illicitly send millions of dollars in narcotics proceeds from the United States to Colombia, according to documents filed in federal court.
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December 11, 2024
Law Firm Manager Gets Prison For Bribes In No-Fault Scam
A Manhattan federal judge on Wednesday hit a former law firm manager with a five-year prison sentence for paying $800,000 in bribes that fueled a $70 million no-fault automobile insurance fraud racket, saying his lawbreaking "was massive in scope."
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December 11, 2024
Doctors Group Asks DC Circ. To Pause Pot Hearings
A group of doctors who advise their patients on medical cannabis is asking the D.C. Circuit to put a stay on hearings set for January over whether to reschedule cannabis under the Controlled Substances Act, saying they were unfairly denied the chance to participate in those hearings.
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December 11, 2024
Black Realtor, Client Cuffed During House Showing Can Sue
The Sixth Circuit has partially reinstated a lawsuit filed by a Black real estate agent and his client who were arrested while touring a Michigan house for sale after a neighbor called the police, reviving an unlawful detention claim against one of the officers.
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December 11, 2024
Nigerians Impersonated US Brokers For $3M Scam, Feds Say
Three Nigerian nationals were charged on Wednesday with running a nearly $3 million internet investment fraud scheme in which they impersonated legitimate securities brokers and investment advisers, misappropriated the seal of the U.S. Securities and Exchange Commission and stole from at least 28 investors.
Expert Analysis
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Primer On Chinese Trade Secret Disputes For US Practitioners
Increasing cross-border disputes over trade secret misappropriation between U.S. and Chinese entities emphasize the need for U.S. practitioners to navigate China's legal landscape following recent reforms that enhance the viability of litigation in Chinese courts, say attorneys at Jones Day.
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Mental Health First Aid: A Brief Primer For Attorneys
Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.
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John Deere Penalty Shows Importance Of M&A Due Diligence
The U.S. Securities and Exchange Commission's recent $10 million penalty against John Deere underscores the risks of not conducting robust preacquisition due diligence and not effectively integrating a new subsidiary into the existing compliance framework, say attorneys at Ropes & Gray.
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Revisiting The Crime-Fraud Exception After Key Trump Cases
Evidence issues in the Jan. 6 Capitol riot and classified documents cases involving former President Donald Trump offer an opportunity to restudy elements and implications of the crime-fraud exception to attorney-client privilege and the work product doctrine, noting the courts' careful scrutiny of these matters, say Robert Hoff and Paul Tuchmann at Wiggin and Dana.
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Series
NY Banking Brief: All The Notable Legal Updates In Q3
In a relatively light few months for banking legal updates in New York, the state Department of Financial Services previewed its views on banking sector artificial intelligence use via insurer guidance, and an anti-money laundering enforcement action underscored the importance of international monitoring processes, say Eric McLaughlin and Dana Bayersdorfer at Davis Polk.
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Series
Collecting Art Makes Me A Better Lawyer
The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.
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Aviation Watch: Boeing Plea Agreement May Not Serve Public
The proposed plea agreement between the U.S. Department of Justice and Boeing — the latest outgrowth of the company's 737 Max travails — is opposed by crash victims' families, faces an uncertain fate in court, and may ultimately serve no beneficial purpose, even if approved, says Alan Hoffman, a retired attorney and aviation expert.
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Using Primacy And Recency Effects In Opening Statements
By understanding and strategically employing the primacy and recency effects in opening statements, attorneys can significantly enhance their persuasive impact, ensuring that their narrative is both compelling and memorable from the outset, says Bill Kanasky at Courtroom Sciences.
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Takeaways From TOTSA Settlement And Critical CFTC Dissent
The U.S. Commodity Futures Trading Commission's recent settlement with TOTSA highlights the agency's commitment to enforcing market integrity and deterring manipulative practices, while Commissioner Caroline Pham's dissent to the settlement spotlights the need for transparency and consistency in enforcement actions, say attorneys at Davis Wright.
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Litigation Inspiration: Honoring Your Learned Profession
About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.
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Opinion
AI May Limit Key Learning Opportunities For Young Attorneys
The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.
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Key Takeaways From DOJ's New Corp. Compliance Guidance
The U.S. Department of Justice’s updated guidance to federal prosecutors on evaluating corporate compliance programs addresses how entities manage new technology-related risks and expands on preexisting policies, providing key insights for companies about increasing regulatory expectations, say attorneys at Debevoise.
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The Key Changes In Revised FDIC Hiring Regulations
Attorneys at Ogletree break down the Federal Deposit Insurance Corp.'s new rule, effective Oct. 1, that will ease restrictions on financial institutions hiring employees with criminal histories, amend the FDIC's treatment of minor offenses and clarify its stance on expunged or dismissed criminal records.
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6 Tips For Trying Cases Away From Home
Excerpt from Practical Guidance
A truly national litigation practice, by definition, often requires trying cases in jurisdictions across the country, which presents unique challenges that require methodical preparation and coordination both within the trial team and externally, say Edward Bennett and Suzanne Salgado at Williams & Connolly.
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Kubient Case Shows SEC's Willingness To Charge Directors
The U.S. Securities and Exchange Commission's recent fraud charges against Kubient's former CEO, chief financial officer and audit committee chair signal a willingness to be more aggressive against officers and directors, underscoring the need for companies to ensure that they have appropriate channels to gather, investigate and document employee concerns, say attorneys at Jenner & Block.