White Collar

  • December 05, 2024

    Chinese Bank Faces New Suit Alleging Reinsurance Fraud

    Another group of insurers has accused one of China's largest banks of participating in a "multi-billion-dollar fraud" in the reinsurance market, telling a New York federal court Thursday that the bank, including its New York branch, has refused to honor over $890 million worth of letters of credit.

  • December 05, 2024

    Sports Collectibles Exec Gets 51 Months For Investment Fraud

    The owner of a Las Vegas sports memorabilia company was sentenced to four years and three months in prison Wednesday after pleading guilty to lying to investors as part of a fraud scheme that prosecutors said funded a lavish lifestyle.

  • December 05, 2024

    FTX Clawback Deal With Ex-Alameda Co-CEO Gets Court Nod

    A Delaware bankruptcy judge has approved a deal to settle clawback claims by FTX against former Alameda Research Ltd. executive John Samuel Trabucco, who agreed to hand over two San Francisco apartments purchased in 2021 for $8.7 million and a 53-foot yacht bought in 2022 for $2.5 million.

  • December 05, 2024

    McKinsey Unit To Pay $123M Over South Africa Bribe Scheme

    The African unit of consulting giant McKinsey & Co. will pay about $123 million to resolve a U.S. Department of Justice investigation into an alleged scheme to bribe South African government officials for contracts with state-owned companies.

  • December 05, 2024

    Ex-Leader At Seton Hall Law Gets 3 Years For Embezzlement

    A New Jersey federal judge sentenced on Thursday a former assistant dean at Seton Hall University School of Law to three years in prison for leading a 13-year embezzlement scheme that defrauded her former employer of $1.3 million. 

  • December 05, 2024

    Sentencing Judge Wants Jail Healthcare Info In Threats Case

    Saying he needed additional briefs on mental health treatments in federal prisons, a Connecticut federal judge on Thursday postponed sentencing a man who pled guilty to mailing more than 150 threatening letters to U.S. Supreme Court justices, state and federal judges, other officials and journalists.

  • December 05, 2024

    Insurer Says Fake Adjuster Cost It $800K

    An insurer told a Puerto Rico federal court that a lying and unlicensed adjuster and his company illegally stepped into a dispute with its insured, costing the carrier at least $800,000 while trying to compensate the territory's highway and transportation system for hurricane damages.

  • December 05, 2024

    Combs Demands Court Inquiry Into Copied Jail Notes

    Sean "Diddy" Combs urged a Manhattan federal judge to hold a special hearing and consider dismissing his sex-trafficking indictment after staff at the Metropolitan Detention Center photographed his allegedly privileged, handwritten notes during a sweep of the prison and sent them to prosecutors, who he says used the information to argue against bail.

  • December 05, 2024

    Senate Confirms New Mexico Prosecutor To Federal Bench

    The Senate voted 52-45 on Thursday to confirm Sarah Davenport, an assistant U.S. attorney for the District of New Mexico, as district judge.

  • December 05, 2024

    DEI Provision Dooms Boeing's 737 Max Plea Deal

    A Texas federal judge on Thursday rejected Boeing's plea agreement in its 737 Max criminal conspiracy case, finding flaws in how the U.S. Department of Justice intended to use race and diversity to select an independent compliance monitor to oversee Boeing, and how the court was cut out of that process.

  • December 04, 2024

    Fla. Ex-Rep Sues Associate Connected To Foreign Agent Case

    A former Florida congressman has sued an associate in Miami-Dade County over a breach of contract, alleging that he disclosed a confidential legal memorandum to law enforcement officials and others in connection to a federal indictment charging the ex-lawmaker with unlawfully lobbying on behalf of Venezuela.

  • December 04, 2024

    SEC Scores $13M Default Judgment In Data Co. Insider Action

    China-based cloud analytics company Gridsum Inc. and its CEO have been ordered to give the U.S. Securities and Exchange Commission nearly $13 million after failing to respond to the regulator's claims that they funneled investor money out of the company to the relatives of executives.

  • December 04, 2024

    7th Circ. Asks If Feds Went Too Far In $25M Kickback Case

    The Seventh Circuit questioned where it should draw the line between "perfectly legal" and improper marketing conduct Wednesday as it considered vacating a medical equipment pharmacy owner's conviction for running an alleged $25 million kickback scheme with a patient-leads broker.

  • December 04, 2024

    CFTC Hits $17.1B Enforcement Record With FTX-Linked Deals

    The Commodity Futures Trading Commission secured a record annual enforcement haul of more than $17.1 billion in fiscal year 2024, including a historic $12.7 billion judgment against failed crypto exchange FTX and its affiliated trading firm Alameda Research, the agency announced Wednesday.

  • December 04, 2024

    DEA Judge Sets Pot Rescheduling Hearings

    The Drug Enforcement Administration will kick off six weeks of hearings in late January on the merits of the attorney general's proposal to loosen restrictions on marijuana, an agency administrative law judge said Wednesday.

  • December 04, 2024

    Wells Fargo Wants Suits Over $300M Scheme Tossed

    Wells Fargo Bank NA urged a Florida federal judge on Wednesday to toss both a proposed class action and a receiver's lawsuit claiming the bank aided and abetted a $300 million Ponzi scheme that duped more than 1,000 investors, arguing that neither pleading sufficiently shows that Wells Fargo knew about the fraud.

  • December 04, 2024

    Trump Asks Ga. Appeals Court To End Election Prosecution

    President-elect Donald Trump moved Wednesday to scuttle the last pending criminal charges against him, telling the Georgia Court of Appeals it's time to end the election interference case against him as he prepares to return to the White House next year.

  • December 04, 2024

    Ex-Tiffany Manufacturing Supervisor Gets Prison For Theft

    A former manager at a Tiffany & Co. jewelry factory was sentenced to 59 days in prison Wednesday, after he pled guilty to stealing $1.7 million in gold, silver and platinum from his employer.

  • December 04, 2024

    Ex-Trump Atty Chesebro Looks To Invalidate Ga. Plea Deal

    Kenneth Chesebro, a former attorney for President-elect Donald Trump and one of four Trump co-defendants to strike a plea deal with Georgia prosecutors, sought to overturn his agreement in a filing on Wednesday.

  • December 04, 2024

    Ex-Poker Pro Pleads Guilty In Sports Betting Scheme

    A former World Series of Poker champion pled guilty in New York federal court Wednesday to operating a yearslong scheme to bilk sports bettors by falsely claiming he could use insider knowledge to place bets for surefire payouts.

  • December 04, 2024

    Sterlington Adds Kenneth Starr Successor From Zeichner

    Sterlington PLLC announced Wednesday the addition of Robert W. Ray, a former Zeichner Ellman & Krause LLP partner and independent counsel who succeeded Kenneth Starr, touting his connections to President-elect Donald Trump's prospective political appointees, including attorney general nominee Pam Bondi and deputy attorney general nominee Todd Blanche.

  • December 04, 2024

    Takeda Exec Duped Beau Into $2M Fraud, Jury Told

    A Massachusetts man is accusing his wife, a former Takeda Pharmaceuticals vice president, of playing "puppet master" by tricking him into joining a scheme to steal millions from the drug company through fake invoices.

  • December 04, 2024

    Fulton County DA Must Produce Trump Election Probe Docs

    A Georgia state court judge has ordered the Fulton County District Attorney's Office to turn over documents from its election interference investigation that were sent to or received from special counsel Jack Smith and the U.S. House Jan. 6 Committee to conservative nonprofit Judicial Watch.

  • December 04, 2024

    Jan. 6 Rioter Unlikely To Succeed On Appeal, Judge Says

    A District of Columbia federal judge ordered a convicted rioter from the Jan. 6, 2021, assault on the U.S. Capitol to serve the remainder of his more than four-year prison term while he appeals, saying his legal arguments are substantial but unlikely to result in a reduced sentence.

  • December 04, 2024

    Legal Clouds Part For 2 Who Assisted In Cannabis Fraud Case

    A Manhattan federal judge on Wednesday allowed a pair of New Jersey business partners to avoid prison for aiding in a scheme to siphon portions of $14 million raised for a cannabis-infused consumer products company, crediting their cooperation with prosecutors.

Expert Analysis

  • Series

    Round-Canopy Parachuting Makes Me A Better Lawyer

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    Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.

  • 7 Takeaways For Companies After Justices' Bribery Ruling

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    The U.S. Supreme Court’s Snyder v. U.S. decision this summer, holding that a federal law does not criminalize after-the-fact gratuities made to public officials, raises some key considerations for companies that engage with state, local and tribal governments, say attorneys at BakerHostetler.

  • Why Now Is The Time For Law Firms To Hire Lateral Partners

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    Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners — though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.

  • Considering Possible PR Risks Of Certain Legal Tactics

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    Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.

  • Perspectives

    DC Circ. Seizure Ruling Deepens 4th Amendment Circuit Split

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    The D.C. Circuit’s recent Asinor v. District of Columbia decision, holding that the government’s continued possession of seized property must be reasonable, furthers a split among circuit courts and portends how the text, history and tradition method might influence Fourth Amendment cases, say Ty Howard and Wayne Beckermann at Bradley Arant.

  • Integrating ESG Into Risk Management Programs

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    Amid increasing regulations and reporting requirements for corporate sustainability in the European Union and the U.S., companies might consider how to incorporate environmental, social and governance factors into more formalized risk management, say directors at Alvarez & Marsal.

  • It's No Longer Enough For Firms To Be Trusted Advisers

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    Amid fierce competition for business, the transactional “trusted adviser” paradigm from which most firms operate is no longer sufficient — they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.

  • Vertex Suit Highlights Issues For Pharma Fertility Support

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    Vertex Pharmaceuticals' recent lawsuit challenging the U.S. Department of Health and Human Services' interpretation of the Anti-Kickback Statute is influenced by a number of reproductive rights and health equity issues that the Office of Inspector General should address more concretely, including in vitro fertilization and fertility preservation programs, says Mary Kohler at Kohler Health Law.

  • 5 Lessons From Consulting Firm's Successful DOJ Disclosure

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    The Boston Consulting Group recently received a rare declination of prosecution from the U.S. Department of Justice after self-disclosing a foreign bribery scheme, and the firm’s series of savvy steps after discovering the misconduct provides useful data points for white collar defense attorneys, says Jonathan Porter at Husch Blackwell.

  • 5 Credibility Lessons Trial Attys Can Learn From Harris' Run

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    In launching a late-stage campaign for president, Vice President Kamala Harris must seize upon fresh attention from voters to establish, or reestablish, credibility — a challenge that parallels and provides takeaways for trial attorneys, says Ken Broda-Bahm at Persuasion Strategies.

  • 7 Takeaways For Investment Advisers From FinCEN AML Rule

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    With a new FinCEN rule that will require covered investment advisers to implement anti-money laundering programs and comply with extra recordkeeping requirements by 2026, companies should begin planning necessary updates to their policies and procedures by focusing on seven of the rule’s key requirements, identified by attorneys at Simpson Thacher.

  • A Look At UK, EU And US Cartel Enforcement Trends

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    The European Union, U.K. and U.S. competition agencies' recently issued joint statement on competition risks in generative artificial intelligence demonstrates increased cross-border collaboration on cartel investigations, meaning companies facing investigations in one jurisdiction should anticipate related investigations in other jurisdictions, say lawyers at Latham & Watkins.

  • Navigating A Potpourri Of Possible Transparency Act Pitfalls

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    Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.

  • A Preview Of AI Priorities Under The Next President

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    For the first time in a presidential election, both of the leading candidates and their parties have been vocal about artificial intelligence policy, offering clues on the future of regulation as AI continues to advance and congressional action continues to stall, say attorneys at Mintz.

  • How Companies Are Approaching Insider Trading Policies

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    An analysis of insider trading policies recently disclosed by 49 S&P 500 companies under a new U.S. Securities and Exchange Commission rule reveals that while specific provisions vary from company to company, certain common themes are emerging, say attorneys at Gibson Dunn.

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