White Collar

  • March 25, 2024

    MLB's Ohtani Denies Betting Ties, Alleges Theft By Interpreter

    Los Angeles Dodgers superstar Shohei Ohtani on Monday squarely accused his former interpreter of stealing from him to fund a sports betting habit, denying any direct involvement or knowledge of illegal wagering.

  • March 25, 2024

    Ga. Judge Slams Attys Over 'Incredible' House Arrest Request

    A Georgia federal judge on Monday postponed the sentencing of a cybersecurity contractor convicted of hacking into a hospital's computer systems after tearing into his attorneys over their request for nearly five years of home confinement instead of prison, for which the judge found "no basis."

  • March 25, 2024

    US Accuses 7 Chinese Nationals Of Hacking Conspiracy

    The Biden administration filed criminal charges and issued economic sanctions on Monday against Chinese nationals who allegedly attempted hack into the accounts of government officials and defense companies under the auspices of a cyberespionage program supposedly backed by China.

  • March 25, 2024

    FTX Reaches Deals For $884M In Ch. 11 AI Biz Stock Sales

    Bankrupt cryptocurrency exchange FTX Trading Ltd. informed a Delaware court that it has reached agreements with two dozen purchasers for sales of the debtor's holdings in artificial intelligence company Anthropic PBC worth $884.1 million.

  • March 25, 2024

    Ripple's Legal Chief Says SEC Wants $2B In Remedies

    The CEO and legal head of blockchain firm Ripple Labs said Monday that the U.S. Securities and Exchange Commission plans to seek $2 billion in fines and penalties over the firm's failure to register institutional sales of its XRP token, but the firm plans to strike back at the high dollar amount.

  • March 25, 2024

    Pilot For UK Billionaire Says Stock Tips Case Is Too Vague

    A pilot charged with trading on insider stock tips from U.K. billionaire Joe Lewis told a New York federal judge Friday that prosecutors had failed to identify a piece of information that he knew was non-public, urging the court to toss the case.

  • March 25, 2024

    LA Firm Can't Beat Damages For Leaving Criminal Case

    A California appeals court on Friday ruled that a Los Angeles law firm cannot escape breach-of-contract damages for withdrawing from an attempted murder case, but also said its former client isn't entitled to a larger award.

  • March 25, 2024

    Ohio AG Says Pol Used Campaign Funds For Bribery Case Fees

    The legal woes of former Ohio House Speaker Larry Householder were compounded Monday with state charges that he used campaign money to cover legal fees stemming from his blockbuster conviction in federal court over the FirstEnergy Corp. bailout scandal.

  • March 25, 2024

    Nigeria Charges Binance With Tax Evasion, Says Exec Fled

    Nigeria's tax authority filed criminal tax evasion charges against Binance, one of the world's largest cryptocurrency exchanges, and two of its executives, one of whom escaped custody Monday, according to state-owned media.

  • March 25, 2024

    Terraform Failure In Crypto Crash Wasn't Fraud, Jury Told

    Counsel for Terraform Labs creator Do Kwon told a Manhattan federal jury Monday that Kwon believed in his technology and told the truth, pushing back against claims that he lied about the stability and business prospects of his bankrupt cryptocurrency startup.

  • March 25, 2024

    Ex-Root Exec Gets 51 Months In Prison For $10.2M Theft

    The former chief marketing officer for Columbus, Ohio-based car insurer Root Inc. has been sentenced to 51 months in prison followed by five years of supervised release for embezzling more than $10.2 million from his employer and spending it on plastic surgery, a yacht, a plane, and other personal expenses.

  • March 25, 2024

    Justices Nix Lenient Drug Sentence After 'Safety Valve' Ruling

    The U.S. Supreme Court on Monday vacated a 100-month sentence given to a woman who pled guilty to drug offenses and remanded the case to the Fourth Circuit after the justices recently clarified which defendants qualify for "safety valve" relief under a 2018 federal law.

  • March 25, 2024

    'Bridgegate' Atty Among Pair Of New Arnold & Porter Partners

    Arnold & Porter Kaye Scholer LLP has expanded its partner ranks with a former prosecutor in the "Bridgegate" case and a onetime environmental law practice leader at another firm moving to its New Jersey, New York and Boston offices, the firm announced Monday.

  • March 25, 2024

    Trump Ally Jeffrey Clark Faces Disbarment In DC Hearing

    In a case one expert called "the single most significant" in the history of the Washington, D.C., bar, a former U.S. Department of Justice official is set to go before an ethics panel this week to face charges over his role in former President Donald Trump's efforts to undermine the 2020 election.

  • March 25, 2024

    NC Justices Deadlock On Reviving Investors' $9M Fraud Suit

    The North Carolina Supreme Court has deadlocked on deciding whether to revive negligence claims against a hedge fund administrator for failing to flag what turned out to be a $9 million Ponzi scheme, meaning a lower court ruling favoring the administrator will stand.

  • March 25, 2024

    DLA Piper Taps New Co-Chair of US-Africa Practice In DC

    DLA Piper has hired a new co-leader of its U.S.-Africa practice, whose experience includes 27 years working at the African Development Bank, where he helped create an African investment banking system with $3 billion in capital, the firm announced last week.

  • March 25, 2024

    Trump Gets Late Reprieve After Failing To Post $465M Bond

    A New York appellate panel said Monday that Donald Trump can pause enforcement of the state attorney general's $465 million civil fraud judgment by posting just $175 million while he appeals, after the former president complained that he was unable to secure a bond for the entire amount.

  • March 25, 2024

    FTX Clawbacks Unlikely To Help Bankman-Fried At Sentencing

    FTX founder Sam Bankman-Fried probably won't find much success in arguing for a shorter prison term based on the billions of dollars recovered by the shuttered crypto exchange's bankruptcy estate, experts told Law360 ahead of this week's much-anticipated sentencing hearing.

  • March 25, 2024

    Trump Can't Dismiss Hush Money Case, Trial Set For April

    A New York state judge on Monday emphatically denied Donald Trump's motion to dismiss the Manhattan district attorney's hush money case in the wake of a late evidence dump by federal prosecutors, scolding the former president's attorney and setting trial for April 15.

  • March 22, 2024

    Hostile Rancher Killed Migrant, Az. Prosecutors Tell Jury

    Arizona prosecutors went to trial Friday against a borderlands rancher they allege killed a migrant trespasser after a history of hostility toward border-crossers, while the man's counsel said he properly reported finding a dead body despite his deep fear that blame could be misdirected at him.

  • March 22, 2024

    Expert's Sanctions Off Limits In SEC's 'Shadow Trading' Trial

    A California federal judge overseeing a "shadow trading" trial starting Monday against a pharmaceutical executive ruled that the U.S. Securities and Exchange Commission can't introduce banking sanctions evidence against the defendant's mergers and acquisitions expert as long as he doesn't give opinions on securities law.

  • March 22, 2024

    OCC Fines Sterling Bank's Ex-COO $150K For Lax Oversight

    The former president of Michigan-based Sterling Bancorp Inc. has been ordered to pay $150,000 by the Office of the Comptroller of the Currency for allegedly failing to properly oversee the bank's Advantage Loan Program, which presented "high risks for fraud, money laundering, and lending misconduct."

  • March 22, 2024

    Up Next At High Court: Abortion, Jury Trials And Estate Tax

    The U.S. Supreme Court will hear oral arguments this week over the U.S. Food and Drug Administration's decision expanding access to popular abortion pill mifepristone as well as whether juries should determine a defendants' eligibility for repeat offender enhanced sentencing under the Armed Career Criminal Act and how long federal employees have to appeal adverse employment decisions.

  • March 22, 2024

    Prostitutes, Wiretaps, Payoffs: Key LA RICO Witness Tells All

    A witness in former Los Angeles deputy mayor Ray Chan's racketeering trial testified Friday about trying to boost his high-end cabinetry business by procuring prostitutes for a city council member, paying more than $150,000 in bribes and attempting to give a city official $10,000 at Chan's behest.

  • March 22, 2024

    Ill. Atty Tampered With Witness In Own Fraud Case, Feds Say

    A Chicago-area lawyer facing criminal tax fraud charges has been slapped with a superseding indictment accusing him of witness tampering by trying to script a bookkeeper's testimony, according to an announcement made Friday.

Expert Analysis

  • Complying With Enforcers' Ephemeral Messaging Guidance

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    Given federal antitrust enforcers’ recently issued guidance on ephemeral messaging applications, organizations must take a proactive approach to preserving short-lived communications — or risk criminal obstruction charges and civil discovery sanctions, say attorneys at Manatt.

  • New FinCEN Guide Provides Useful BOI Context For Banks

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    Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership information database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.

  • How Firms Can Ensure Associate Gender Parity Lasts

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    Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.

  • How Echoing Techniques Can Derail Witnesses At Deposition

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    Before depositions, defense attorneys must prepare witnesses to recognize covert echoing techniques that may be used by opposing counsel to lower their defenses and elicit sensitive information — potentially leading to nuclear settlements and verdicts, say Bill Kanasky and Steve Wood at Courtroom Sciences.

  • Opinion

    OFAC Should Loosen Restrictions On Arbitration Services

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    The Office of Foreign Assets Control regulations should be amended so that U.S. persons can provide arbitration services to sanctioned parties — this would help align OFAC policy with broader U.S. arbitration policy, promote efficiency, and effectively address related geopolitical and regulatory challenges, says Javier Coronado Diaz at Diaz Reus.

  • 7 Common Myths About Lateral Partner Moves

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    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.

  • Series

    Cheering In The NFL Makes Me A Better Lawyer

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    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.

  • Perspectives

    Compassionate Release Grants Needed Now More Than Ever

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    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.

  • Communication Is Key As CFPB Updates Appeals Process

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    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.

  • Unpacking The New Russia Sanctions And Export Controls

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    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.

  • Mitigating Whistleblower Risks After High Court UBS Ruling

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    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.

  • Perspectives

    Justices' Double Jeopardy Ruling Preserves Acquittal Sanctity

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    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.

  • Steps For Companies New To Sanctions Compliance

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    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.

  • Bank Secrecy Act Lessons For Casinos After DOJ Settlements

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    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.

  • High Court Forfeiture Case Again Pits Text Against Purpose

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    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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