A former executive of payment processor Allied Wallet has filed a double jeopardy motion after the initial Massachusetts federal judge overseeing the fraud case recused himself, a second declared a mistrial and exited due to a family emergency, and a third flagged a potential conflict with a prosecutor.
Law360
Fintech
FRIDAY, OCTOBER 10, 2025 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Fintech Exec May Claim Double Jeopardy Amid Judge Shuffle

By Julie Manganis

A former executive of payment processor Allied Wallet has filed a double jeopardy motion after the initial Massachusetts federal judge overseeing the fraud case recused himself, a second declared a mistrial and exited due to a family emergency, and a third flagged a potential conflict with a prosecutor.

Read full article » | Save to favorites »

Judge Scuttles CFTC Settlements In $21M Crypto Scam Case

By Jessica Corso

A Florida federal judge has rejected a pair of proposed U.S. Commodity Futures Trading Commission settlements in a case alleging a $21 million crypto trading scheme, giving the short-staffed agency only a few days to explain why she shouldn't dismiss the allegations.

2 documents attached | Read full article » | Save to favorites »

Voyager Judge Won't Dismiss Contract Claims In Binance Suit

By Alex Wittenberg

A New York bankruptcy judge said Thursday he expected to deny a request by Binance.US to dismiss Voyager Digital's breach of contract claims stemming from a collapsed asset purchase agreement between the two cryptocurrency ventures.

Read full article » | Save to favorites »

Senate Crypto Bill Weakens State Fraud Protection, Experts Say

By Aislinn Keely

State regulators and legal experts are urging leaders of the Senate Banking Committee to overhaul their draft crypto market structure legislation on the grounds that the current text would weaken state power to police fraud and protect investors in crypto markets and beyond.

2 documents attached | Read full article » | Save to favorites »

POLICY & REGULATION

Bessent Touts Trump's 'Community Bank Comeback' Agenda

By Jon Hill

U.S. Department of the Treasury Secretary Scott Bessent on Thursday pledged a wide-ranging regulatory push to spur a "community bank comeback," previewing plans that include easing capital rules, updating anti-money laundering standards and supporting expanded deposit insurance.

Read full article » | Save to favorites »

ENFORCEMENT & COMPLIANCE

Treasury Looks To Cut Suspicious Activity Reporting 'Noise'

By Sarah Jarvis

The U.S. Department of the Treasury's enforcement arm Thursday released clarifications about requirements related to suspicious activity reports, specifying among other things that financial institutions do not have to document their decisions not to file the reports.

1 document attached | Read full article » | Save to favorites »

LITIGATION

Investment Adviser Firm Sues Over Fraud Protection Patent

By Elliot Weld

Investment adviser firm FinTegrity LLC has sued Deutsche Bank and a Czech cybersecurity company in Texas federal court with claims they are infringing a patent that covers fraud protection technology.

5 documents attached | Read full article » | Save to favorites »

BeFrugal Marketing Firm Says Exec Steered Clients To Rival

By Julie Manganis

Affiliate marketing firm BeFrugal said in a lawsuit this week in Massachusetts state court that a senior vice president secretly co-founded a competing company, then steered major clients, including DirecTV and Samsung, to the new business.

Complaint attached | Read full article » | Save to favorites »

EXPERT ANALYSIS

A Look At Project Crypto's Plans For Digital Asset Regulation

U.S. Securities and Exchange Commission Chairman Paul Atkins' recent announcement of Project Crypto, an agencywide initiative to modernize federal securities regulations, signals a significant shift toward a more flexible regulatory framework that would shape the future of the U.S. digital asset market, say attorneys at WilmerHale.

Read full article » | Save to favorites »

Strategies For Defending Banks In Elder Abuse Cases

Several recent cases demonstrate that banks have plenty of tools to defend against claims they were complicit in financial abuse of older adults, but financial institutions should also continue to educate customers about third-party scams before they happen, say attorneys at Troutman.

Read full article » | Save to favorites »

Series

Painting Makes Me A Better Lawyer

Painting trains me to see both the fine detail and the whole composition at once, enabling me to identify friction points while keeping sight of a client's bigger vision, but the most significant lesson I've brought to my legal work has been the value of originality, says Jana Gouchev at Gouchev Law.

Read full article » | Save to favorites »

LEGAL INDUSTRY

Sullivan & Cromwell Impersonators Hit With NY Fraud Claims

By Emily Sawicki

New York Attorney General Letitia James is attempting to take down a slew of businesses whose names are variants of Sullivan & Cromwell LLP, accusing them of attempting a scheme to fraudulently redirect checks meant for the global corporate law firm.

Complaint attached | Read full article » | Save to favorites »

Analysis

False-Statement Case Puts Comey In Rare Company

By Phillip Bantz

Former FBI director James Comey is the latest addition to the relatively short list of government officials who have been criminally charged over the past several decades with making false statements to Congress.

Read full article » | Save to favorites »

NY Atty General Indicted Following Pressure From Trump

By Lauren Berg

New York Attorney General Letitia James was indicted in Virginia federal court Thursday on charges related to mortgage fraud, three weeks after President Donald Trump wrote a social media post encouraging U.S. Attorney General Pam Bondi to take action because James and two other political opponents were "guilty as hell."

Indictment attached | Read full article » | Save to favorites »

Tort Report: Nuked 'Nuclear Verdict' Stays, Texas Justices Say

By Y. Peter Kang

The fate of a "nuclear verdict" that was used to jump-start tort reform campaigns across the country and a settlement of a suit over a Kiss guitar technician's death lead Law360's Tort Report, which compiles recent personal injury and medical malpractice news that may have flown under the radar.

Bill attached | Read full article » | Save to favorites »

Jenn Mascott Of WH Counsel's Office Confirmed To 3rd Circ.

By Courtney Bublé

The Senate voted 50-47 on Thursday to confirm Jenn Mascott, currently serving in the White House Counsel's Office, to the Delaware seat on the Third Circuit.

Read full article » | Save to favorites »

7th Circ. Nominee Taibleson Advances To Full Senate

By Courtney Bublé

The Senate Judiciary Committee advanced on party lines the nomination of Rebecca Taibleson, a federal prosecutor in Wisconsin, to serve on the Seventh Circuit, as well as four district judicial nominees and five U.S. attorney nominees.

Read full article » | Save to favorites »

Baldoni Atty Faces LA Malpractice Suit Over Client 'Betrayal'

By Emily Sawicki

Entertainment attorney Bryan Freedman has been accused in Los Angeles County Superior Court of turning his back on a former client, allegedly convincing him to sign an unfavorable settlement on trademark claims against "It Ends With Us" star Justin Baldoni, only to later begin representing the actor and director.

Complaint attached | Read full article » | Save to favorites »

Calif. Supreme Court Justice Martin Jenkins To Retire

By James Mills

California Supreme Court Justice Martin J. Jenkins, the first openly gay man and the third African American man to sit on the bench, will retire at the end of October, the court announced Thursday.

Read full article » | Save to favorites »

Weinstein Says Jurors Traded Threats, Tainting Verdict

By Cara Salvatore

Harvey Weinstein's legal team said his June sexual assault convictions were tainted by juror misconduct, including physical threats and an unfounded bribery claim, arguing in a motion for a new trial that a judge refused to properly investigate.

2 documents attached | Read full article » | Save to favorites »

Promo that reads Law360 Pulse Summer Associates Survey: Part 2 Promo that reads 2025 Regional Powerhouses

COMPANIES IN TODAY'S NEWS

Amazon.com Inc.

American Express Co.

American Family Association

American Federation of Labor & Congress of Industrial Organizations

American Tort Reform Association

Bank of America Corp.

Barclays PLC

Binance Holdings Ltd.

Binance.US

Cargill Inc.

Citigroup Inc.

Comerica Inc.

Delphi Automotive PLC

Democracy Forward Foundation

Democratic National Committee

Deutsche Bank AG

FTX US

Federalist Society

JPMorgan Chase & Co.

Live Nation Entertainment Inc.

Major League Baseball Inc.

Marriott International Inc.

MasterCard Inc.

Navy Federal Credit Union

North American Securities Administrators Association

Organization for Economic Cooperation and Development

Pacific Bells LLC

Public Citizen Inc.

SVB Financial Group

Samsung Electronics Co. Ltd.

Seattle Seahawks

Securities Investor Protection Corp.

The Catholic University of America

The DIRECTV Group Inc.

Werner Enterprises Inc.

WikiLeaks

LAW FIRMS IN TODAY'S NEWS

Aidala Bertuna

Cooley LLP

Gouchev Law

Latham & Watkins

Liner Freedman

Lowell & Associates

McDermott Will & Schulte

MoloLamken

Morse Barnes-Brown

Nelson Mullins

Rabicoff Law

Sullivan & Cromwell

Troutman

WilmerHale

GOVERNMENT AGENCIES IN TODAY'S NEWS

California Supreme Court

Central Intelligence Agency

Commodity Futures Trading Commission

Commonwealth of Massachusetts

Consumer Financial Protection Bureau

Federal Bureau of Investigation

Federal Deposit Insurance Corp.

Federal Housing Finance Agency

Federal Reserve System

Financial Crimes Enforcement Network

Georgia Court of Appeals

Manhattan District Attorney's Office

National Credit Union Administration

New York Attorney General's Office

New York County District Attorney's Office

New York State Department of State

New York Supreme Court, New York County

Office of the Comptroller of the Currency

Texas Supreme Court

U.S. Attorney's Office for the District of Massachusetts

U.S. Attorney's Office for the Eastern District of North Carolina

U.S. Attorney's Office for the Eastern District of Virginia

U.S. Bankruptcy Court for the Southern District of New York

U.S. Department of Justice

U.S. Department of the Treasury

U.S. District Court for the Central District of California

U.S. District Court for the District of Massachusetts

U.S. District Court for the District of South Carolina

U.S. District Court for the Eastern District of Michigan

U.S. District Court for the Eastern District of Texas

U.S. District Court for the Eastern District of Virginia

U.S. District Court for the Middle District of Florida

U.S. District Court for the Middle District of Tennessee

U.S. District Court for the Northern District of California

U.S. District Court for the Southern District of California

U.S. District Court for the Southern District of New York

U.S. House of Representatives

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

US Office of Management and Budget

United Nations

United States District Court for the Southern District of Indiana