White Collar

  • April 09, 2020

    Ex-CEO's Threat To Kill Prosecutor Snarls COVID Release Bid

    A California federal judge appeared skeptical Thursday of a request to release an ex-CEO while he awaits sentencing for embezzling millions from a medical device startup, despite arguments that COVID-19 poses a heightened risk to inmates, noting that "he threatened to kill the prosecutor on the case."

  • April 09, 2020

    Calif. District Courts Want Speedy Trial Act Deadlines Paused

    California’s Eastern and Central Districts have asked the Judicial Council of the Ninth Circuit to suspend Speedy Trial Act deadlines, arguing that their strained judicial resources won’t allow them to comply in light of backlogs caused by the novel coronavirus.

  • April 09, 2020

    Paused Hacking Trial Pushed To May Amid Virus Lockdown

    A California federal judge on Thursday punted to May the paused trial of a Russian man accused of hacking into computers belonging to three tech companies, including LinkedIn, citing safety and fairness issues that could arise if it were held during the COVID-19 pandemic.

  • April 09, 2020

    'Varsity Blues' Parents Say Feds Still Sitting On Key Evidence

    A day after defending themselves against misconduct allegations, the team prosecuting actress Lori Loughlin and other wealthy parents in the "Varsity Blues" case was accused Thursday of holding back notes the parents say could help prove their innocence.

  • April 09, 2020

    Ex-Fox Execs Deny New Charges In FIFA Bribery Case

    Two former 21st Century Fox executives on Thursday denied a host of new charges in the sprawling FIFA corruption probe that accuse them of leveraging their involvement in a scheme to bribe South American soccer officials to help the media giant secure broadcasting rights to the 2018 and 2022 World Cups.

  • April 09, 2020

    SEC Settles With 2 Traders Over 2016 Hack Of Its Database

    The U.S. Securities and Exchange Commission has resolved claims with two stock traders allegedly involved in the 2016 hack of the agency’s Edgar electronic filing system by a Ukrainian national.

  • April 09, 2020

    Inmates Say Pittsburgh Jail Not Following COVID-19 Guidance

    The Allegheny County Jail in Pittsburgh isn’t giving inmates enough space to reduce the risk of spreading the coronavirus, despite making room by releasing hundreds of prisoners, according to a proposed class action lawsuit filed in Pennsylvania federal court.

  • April 09, 2020

    Convicted Developer Wants Out Of COVID-19 ‘Death Sentence’

    Chinese real estate developer Ng Lap Seng has asked a federal judge to grant him compassionate release from prison, saying his age and health conditions put him at a high risk of death if he is infected with the novel coronavirus.

  • April 09, 2020

    'Apprentice' Outtakes Relevant In Fraud Suit Against Trump

    Unaired footage from two episodes of "The Celebrity Apprentice" is relevant to a proposed class action claiming Donald Trump scammed investors into buying worthless stakes in marketing company American Communications Network prior to becoming president, a federal judge ruled Thursday.

  • April 09, 2020

    IRS Top Cop Gearing Up For Virus Payment Fraud Probes

    The Internal Revenue Service is juggling resource needs to best position itself to launch investigations into fraudulent claims for COVID-19 economic relief payments, the head of the agency's Criminal Investigation Division told Law360.

  • April 09, 2020

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen a major Portuguese bank join the queue of lenders suing Mozambique in the wake of a $2 billion fraud scandal, Russia's sovereign wealth fund target another news outlet over coverage, and BP add to the legal woes for its rival Glencore. Here, Law360 looks at those and other new claims in the U.K.

  • April 08, 2020

    Trump, Kids Can't Send Class's Fraud Claims To Arbitration

    A New York federal judge on Wednesday rejected a bid from President Donald Trump and three of his children to arbitrate a putative class action alleging that they conned thousands into investing in worthless business ventures using the Trump name.

  • April 08, 2020

    New 'Varsity Blues' Evidence Puts Prosecutors On Defensive

    Federal prosecutors in the "Varsity Blues" college admissions case on Wednesday denied allegations that they instructed the scheme's mastermind to lie to Lori Loughlin and other parents and then hid the evidence for over a year, a bombshell claim that experts say is a bad look for the government even if it may not derail the case.

  • April 08, 2020

    Rite Aid To Pay $4.8M To Settle DOJ Cold Medicine Claims

    Rite Aid Corp. agreed to pay a $4.75 million penalty to resolve claims that its employees violated federal drug law by incorrectly recording information about customers who bought cold medicines containing pseudoephedrine, which can be used to illegally manufacture methamphetamines, the U.S. Department of Justice announced Wednesday.

  • April 08, 2020

    Ex-Cosby DA Joins Saltz Mongeluzzi's New Sex Crimes Unit

    A former Philadelphia-area prosecutor who helped send Bill Cosby to prison on sexual assault charges two years ago has joined Saltz Mongeluzzi & Bendesky PC to lead a new practice group dedicated to representing victims of sex crimes and harassment in civil cases.

  • April 08, 2020

    Rakoff Mulls Bail For Silk Road Crook Jailed In Brooklyn

    U.S. District Judge Jed S. Rakoff pondered Wednesday whether a toy merchant-turned-drug dealer on the online Silk Road bazaar, who is doing time in Brooklyn for lying about where he got $19 million worth of bitcoins, should be released until the coronavirus abates.

  • April 08, 2020

    Wells Fargo Can't Nix Equitybuild Ponzi Scheme Claims

    Wells Fargo must face the bulk of a proposed investor class action accusing it of facilitating a yearslong, $135 million Ponzi scheme carried out by real estate investment firm Equitybuild Inc. and its father-son owners, a California federal judge has ruled.

  • April 08, 2020

    Cannabis Startup Investors Settle SEC Fraud Case For $1.5M

    A group of investors in a cannabis social media startup have agreed to pay $1.5 million to settle U.S. Securities and Exchange Commission claims they engaged in a stock fraud scheme that allegedly reaped twice that amount.

  • April 07, 2020

    US Financial Crime Compliance Costs Top $26B For 2019

    The U.S. spent a projected $26.4 billion in 2019 on financial crime compliance, third behind the United Kingdom at $49.5 billion and Germany at $47.5 billion, according to a new report that surveyed nearly 900 compliance professionals worldwide. 

  • April 07, 2020

    Cahill Gordon Suspends 2020 Summer Associate Program

    Cahill Gordon & Reindel LLP has decided to suspend its summer associate program for 2020 in response to the COVID-19 pandemic, the firm announced Tuesday though it says it will pay the associates who had been selected and will offer them full-time positions after graduation.

  • April 07, 2020

    Pentax Reaches $43M DOJ Deal Resolving Scopes Charges

    Pentax Medical Co. will pay $43 million to resolve criminal charges after admitting it shipped endoscopes without U.S. Food and Drug Administration-cleared cleaning instructions and failed to file timely reports on two infections associated with the endoscopes, the U.S. Department of Justice announced Tuesday.

  • April 07, 2020

    SEC Says Cannabis Startup Fraud Smoked Investors For $3M

    A Boston man and a group of his friends bought 90% of the shares in a cannabis startup and manipulated the stock price to net themselves more than $3.2 million, the U.S. Securities and Exchange Commission claimed in a complaint Tuesday.

  • April 07, 2020

    Sports Insurer Says Hanover Must Cover Bill For CFO’s Theft

    An upstate New York sports insurance company whose former chief financial officer embezzled nearly $180,000 says its own insurer is wrongfully denying coverage under a commercial crime policy.

  • April 07, 2020

    K&L Gates Nabs DOJ And Senate Judiciary Alum

    K&L Gates has announced the arrival of a partner in its investigations, enforcement and white collar practice whose career includes stints with the U.S. Department of Justice and the Senate Judiciary Committee.

  • April 07, 2020

    Tax Cheat Can Delay Paying $4.9M To IRS, 2nd Circ. Says

    A man convicted of tax fraud can delay paying the IRS $4.9 million in restitution until finishing his prison term, as the Second Circuit ruled Tuesday that a district court erred in starting payments at the beginning of his sentence.

Expert Analysis

  • What DOJ Memo Means For Defense Attys Tackling Wiretaps

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    Defense attorneys should be able to exploit recent findings in a U.S. Department of Justice report — of widespread deficiencies in foreign intelligence surveillance — in connection with motions to suppress wiretap evidence and in challenging post-trial convictions based on such evidence, say attorneys at Lowenstein Sandler.

  • Don't Forget Firm Culture When Adapting To Remote Work

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    While law firms suddenly pivoting to remote work due to coronavirus restrictions are busy dealing with logistical challenges, an equally pressing and perhaps more difficult task may be adjusting a long-standing brick-and-mortar culture to working remotely for the first time, say Heather Clauson Haughian and Grant Walsh at Culhane Meadows.

  • Ghosn Flight Shows Need For Extradition Treaty Cooperation

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    Ex-Nissan CEO Carlos Ghosn's escape from financial misconduct charges in Japan demonstrates the importance of governments working together to shore up extradition treaties, provide resources to Interpol, and support cross-border enforcement, say Tai-Heng Cheng and Ariel Atlas at Sidley.

  • Beware Intense Insider Trading Scrutiny In Current Climate

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    Ongoing investigations into several senators' stock transactions following confidential COVID-19 briefings should serve as a cautionary tale for companies — insider trading is now an area of heightened scrutiny by both public and private actors, say Haimavathi Marlier and David Newman at MoFo.

  • How To Prepare Clients For Ponzi Schemes Amid COVID-19

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    As the major market indexes free-fall because of pandemic fears, practitioners should be on alert for Ponzi schemes and up to speed on how to manage their fallout in coordination with various federal agencies, say attorneys Dennis Cohen and Marianne Recher.

  • How State Price-Gouging Laws Apply To Wholesalers

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    In the current emergency climate caused by the COVID-19 pandemic, wholesale distributors must carefully consider state-level price-gouging statutes and should keep records of increased supplier, labor and material costs when charging more for certain goods, say Lawrence Silverman and Carmen Ortega at Akerman.

  • CARES Act And The Future Of Remote Criminal Proceedings

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    In light of the Coronavirus Aid, Relief, and Economic Security Act's authorizing videoconferencing for a variety of criminal proceedings, it may be time to revisit the physical presence requirement in criminal law, says Steven Gordon at Holland & Knight.

  • Conducting Court Hearings Remotely: 12 Considerations

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    As more courts begin to explore remote hearings during the COVID-19 crisis, attorneys and courts should be aware of some of the common concerns accompanying video- and teleconferencing technology and make allowances to avoid these issues, say Attison Barnes III and Krystal Swendsboe at Wiley Rein.

  • An Early Look At DOJ's Increased Focus On COVID-19 Fraud

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    As the U.S. Department of Justice shapes its ongoing criminal fraud investigations to focus on any COVID-19 components, defense attorneys will need to address the increased risks of unfair prejudice to defendants resulting from the government's public statements, say attorneys at Winston & Strawn.

  • What Cos. Must Know About EPA's COVID-19 Policy

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    The U.S. Environmental Protection Agency’s recently issued temporary policy on the implications of COVID-19 for environmental enforcement and compliance activities provides some comfort to companies trying to reconcile pandemic control measures with environmental obligations, say Joel Gross and Jonathan Martel at Arnold & Porter.

  • The Era Of Video Mediation Is Here — Or Is It?

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    Mediator Jeff Kichaven has heard from several first-chair trial lawyers and senior claims executives that they are reluctant to adopt online video mediation even during the COVID-19 crisis, and says this reluctance is grounded in reality.

  • COVID-19 Highlights BigLaw Need For Emotional Intelligence

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    The formula for making decisions at BigLaw firms has historically been rooted in IQ-based factors, but with the ongoing pandemic, lawyers and firm leaders are increasingly dealing with issues that require emotional intelligence — from establishing effective virtual offices to retaining firm morale and client confidence, say Jolie Balido and Tina van der Ven at NewStar Media.

  • An Asset Manager's Guide To Recent Fintech Developments

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    In this brief video, Jamie Cain and Ben Marzouk at Eversheds Sutherland discuss the essential fintech issues affecting asset managers' business models, including developments related to digital asset securities, cryptocurrency-based exchange-traded funds and blockchain.

  • Opinion

    Judicial Shaming Of Attys Is Troubling Even During Pandemic

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    Judges have recently rebuked attorneys for wasting judicial resources to resolve minor issues during the COVID-19 crisis, including in a trademark lawsuit over unicorn drawings. But it is unfair to publicly flog lawyers for doing what they are trained to do, says Ronald Minkoff, chairman of Frankfurt Kurnit's professional responsibility group.

  • 2nd Circ. Dismissal Affirms The Limits Of Civil RICO Claims

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    The Second Circuit's recent decision in Halvorssen v. Simpson makes clear that, while courts have permitted the use of civil Racketeer Influenced and Corrupt Organizations Act suits in disputes involving legitimate businesses rather than crime syndicates, there are real limits to these claims, say attorneys at Dechert.

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