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White Collar
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June 02, 2025
RBC Client Claims Billions Swept Into Low-Yield Accounts
A new suit filed in New York federal court has alleged the Royal Bank of Canada and RBC Capital Markets ran a cash-sweep program that funneled billions of dollars into affiliated banks while paying clients as little as 0.01% interest.
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June 02, 2025
Chinese Rival Shouldn't Get Code Docs, Micron Tells Justices
Micron Technology Inc. is asking the U.S. Supreme Court to block a Chinese semiconductor competitor from accessing paper copies of sensitive source code during patent infringement litigation, asserting in a petition that a lower court "ignored completely the national-security concerns tied up" in the dispute.
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June 02, 2025
Chief Fed. Judge Bans Conn. Courthouse Arrests, With Limits
The chief federal judge for the District of Connecticut has issued a standing order banning law enforcement officers from arresting or detaining individuals in the state's three federal courthouses, with some exceptions for courtroom security functions and federal offices housed in shared buildings.
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June 02, 2025
Nursing Exec Says DOJ Misapplied Justices' Fraud Ruling
A Nevada nursing home executive convicted of wage-fixing and wire fraud has told a Nevada federal judge that a recent U.S. Supreme Court ruling in a fraud case doesn't preclude his motion for a new trial, contrary to what the U.S. Department of Justice has argued.
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June 02, 2025
US Trustee Pushes For Fee Examiner In Guo Bankruptcy
The U.S. Trustee's Office asked a Connecticut bankruptcy judge to appoint an independent examiner to review fee requests from an increasing number of global professionals authorized to provide legal and other services to the Connecticut-based Chapter 11 estate of Chinese exile Miles Guo.
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June 02, 2025
Fla. Judge Ends Ex-Bank CEO's Fraud Claims In Ponzi Case
A Florida state court judge on Monday ended a long-running suit by a former bank CEO who claims he was set up as a scapegoat in the legal fallout of attorney Scott Rothstein's $1.2 billion Ponzi scheme, dismissing the ex-CEO's fraud and negligent misrepresentation claims.
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June 02, 2025
CFTC Announces 2nd Enforcement Head In 4 Months
The U.S. Commodity Futures Trading Commission on Monday named a new head of enforcement for the second time in four months, appointing its longtime deputy director to head the division.
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June 02, 2025
Girardi's Dropped Pants Don't Sway Judge From Sentencing
A California federal judge ruled Monday she will sentence Tom Girardi this week for his wire fraud conviction, finding him mentally competent enough to potentially serve prison time following a bizarre hearing where the disbarred attorney made an appearance on the witness stand that culminated in his pants falling down.
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June 02, 2025
Judge Finds Exec Sought To Dodge Chicago Hotel Fraud Order
A construction company and executive found by a jury in 2022 of misusing millions intended for Chicago's Nobu Hotel are facing contempt orders from an Illinois federal judge for concealing cash withdrawals and construction work as an investor attempts to collect a $22 million judgment.
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June 02, 2025
Feds Want 12½ Years For Ex-Ill. Speaker Convicted Of Bribery
Prosecutors are urging an Illinois federal judge to sentence former state House Speaker Michael Madigan to prison for 12½ years for bribery, conspiracy and fraud, saying his conduct adds "another sordid chapter to Illinois' storied reputation of corruption" while Madigan, armed with more than 200 letters of support, seeks only probation.
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June 02, 2025
Ex-Lead Atty On Eric Adams' Case Joins Hueston Hennigan
One of the former government lawyers who defied a top U.S. Department of Justice official's orders to drop the corruption charges against New York City Mayor Eric Adams for political reasons has joined Hueston Hennigan LLP as a New York partner, the firm announced Monday.
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June 02, 2025
1st Circ. Partially Revives 'Varsity Blues' Conviction
The First Circuit has reinstated one of the two convictions against a former University of Southern California coach in the "Varsity Blues" college admissions case, saying a federal district court "did not explain" its decision to wipe out the entire verdict.
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June 02, 2025
Immunity Shields Mich. AG From Flint Water Prosecution Suit
A Michigan federal judge has dismissed a wrongful prosecution lawsuit brought by a former aide to ex-Gov. Rick Snyder against the Michigan attorney general and Wayne County prosecutors, ruling that immunity shields the prosecutors from liability over their handling of charges against officials in the aftermath of the Flint water crisis.
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June 02, 2025
Ex-Par Funding CFO Sentenced To 5½ Years, Must Pay $303M
Joseph Cole Barleta, the last of the triumvirate behind the $404 million Par Funding investment scam to be sentenced, was handed a 66-month prison term Monday, along with a staggering $303 million restitution order.
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June 02, 2025
Justices Won't Review Ex-Temple Biz Dean's Fraud Conviction
The U.S. Supreme Court on Monday declined to review the fraud conviction of Moshe Porat, the former dean of the Temple University Fox School of Business, who was accused of falsely inflating the school's stats to boost its rankings in U.S. News & World Report.
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May 30, 2025
Kousisis May Boost Fraud Cases, But Questions Remain
The U.S. Supreme Court's finding that inducing a transaction through lies, even with no intent of economic loss, is a valid basis for a wire fraud conviction opens the door for a wave of aggressive fraud prosecutions, but unanswered questions on issues like materiality may lead the court to again consider reining in the government's power.
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May 30, 2025
Pharma Co. Hid Cancer Study Method Problems, Investor Claims
Biotechnology company UroGen Pharma Ltd. and three current and former executives are facing a proposed investor class action in New Jersey federal court alleging the company failed to disclose methodology flaws affecting a study of its lead drug candidate that ultimately doomed its bid for U.S. Food and Drug Administration approval.
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May 30, 2025
SEC's Staking Guidance Ignores Court Rulings, Crenshaw Says
The U.S. Securities and Exchange Commission's dismissal of its lawsuit against crypto exchange Binance paved the way for its staff's same-day statement that many "staking" services are no longer subject to agency jurisdiction, according to the SEC's sole Democrat, who criticized the move as conflicting with a pair of court decisions the agency won.
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May 30, 2025
Wheeling & Appealing: The Latest Must-Know Appellate Action
Saying that June's circuit court calendars include important arguments in all practice areas would be hyperbolic — but just slightly. That's because significant showdowns are imminent involving appellate procedure principles, "click-to-cancel" rules, government procurement protests, judiciary employment protections and litigation risk insurance — as well as President Donald Trump's felony convictions and extraordinary deportation measures.
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May 30, 2025
Tornado Cash Judge Won't Order Review Of Feds' Evidence
A New York federal judge said Friday that she won't direct federal prosecutors to conduct a review for additional evidence in their case against Tornado Cash founder Roman Storm despite the defense's claims that a recent disclosure in a separate crypto mixer prosecution could impact Storm's defense.
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May 30, 2025
Ex-Mich. Speaker, Wife To Face Nonprofit Embezzlement Trial
Former speaker of the Michigan House of Representatives Lee Chatfield and his wife on Friday were sent to circuit court to stand trial on allegations that the former speaker misused state and campaign funds, and that the pair embezzled money from Chatfield's nonprofit to pay for their lifestyle.
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May 30, 2025
Fla. Trucking Co. Exec Gets 23 Years For Duping 1,600 People
A Florida federal judge on Friday sentenced the former president of a trucking and logistics company to 23 years in prison for defrauding more than 1,600 people who invested millions of dollars in purchasing big-rig vehicles, calling the crime "a classic Ponzi scheme of staggering scale."
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May 30, 2025
Convicted Crypto Investor's Wife Says Gov't Can't Seize Funds
The wife of a bitcoin investor sentenced to prison for concealing millions of dollars from the IRS asked a Texas federal court Friday to stop the federal government from taking her money to help make up for $1 million in restitution stemming from his cryptocurrency sales.
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May 30, 2025
DHS Moves To Ax BigLaw Firm's Halkbank FOIA Dispute
The U.S. Department of Homeland Security urged a D.C. federal judge to end Williams & Connolly LLP's fight for records related to a businessman who cooperated with prosecutors in their pending case alleging the firm's client Halkbank laundered Iranian oil proceeds, arguing Thursday officials searched for responsive records, but nothing turned up.
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May 30, 2025
Ga. Panel Ends County Workers' Whistleblower Suit
A Georgia appellate panel said that Fulton County should have been handed an early win in a whistleblower suit from two ex-employees who said they were canned for reporting corruption by an elected official, ruling the county was justified in firing them for their own financial indiscretions.
Expert Analysis
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3 Ways Civil Plaintiffs Could Fill An FCPA Enforcement Gap
While the Department of Justice recently announced it would deprioritize Foreign Corrupt Practices Act investigations into U.S. businesses without obvious ties to international crime, companies should stay alert to private plaintiffs, who could fill this enforcement void — and win significant civil damages — through several legal channels, says Eric Nitz at MoloLamken.
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Examining Trump Meme Coin And SEC's Crypto Changes
While the previous U.S. Securities and Exchange Commission tended to view most crypto-assets as securities, the tide is rapidly changing, and hopefully the long-needed reevaluation of this regulatory framework is not tarnished by an arguable conflict of interest due to President Donald Trump's affiliation with the $Trump meme coin, say attorneys at Thompson Coburn.
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Opinion
State FCAs Should Cover Local Fund Misuse, State Tax Fraud
New Jersey and other states with similar False Claims Acts should amend them to cover misappropriated municipal funding, and state and local tax fraud, which would encourage more whistleblowers to come forward and increase their recoveries, says Kenneth Levine at Stone & Magnanini.
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New Fla. Financial Abuse Law May See Limited Buy-In
Florida's newly effective financial protection law comes with compliance burdens and uncertainties that could discourage financial institutions from participating, even though the law aims to shield them from liability for delaying transactions when they suspect exploitation of elderly and vulnerable account holders, say attorneys at Shutts & Bowen.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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White Collar Archetypes: Wrangling The Shape-Shifter
In white collar criminal trials, certain pieces of evidence can shape-shift in the jury’s eyes, presenting both challenges and opportunities for defense counsel, says Jack Sharman at Lightfoot Franklin.
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Series
Playing Beach Volleyball Makes Me A Better Lawyer
My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.
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How GSA Lease Clauses May Affect DOGE Terminations
The Department of Government Efficiency has begun to cut the U.S. General Services Administration's enormous real estate portfolio, but some standard lease clauses include limits helpful to landlords that may slow progress toward the administration's cost-cutting goals, say attorneys at Pillsbury.
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Managing Anti-Corporate Juror Views Revealed By CEO Killing
After the shooting of UnitedHealthcare CEO Brian Thompson laid bare deep-seated anti-corporate sentiments among the public, companies in numerous industries will have to navigate the influence of related juror biases on litigation dynamics, say Jorge Monroy and Keith Pounds at IMS Legal Strategies.
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Terraform Case May Be Bellwether For Crypto Enforcement
The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.
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What's Next For Russia Sanctions After Task Force Disbanded
Attorney General Pam Bondi’s recent disbanding of Task Force KleptoCapture, which was initially aimed at seizing Russian oligarchs’ funds and assets, is unlikely to mean the end of Russia sanctions enforcement and other economic countermeasures, as the architecture for criminal enforcement remains in place, say attorneys at BakerHostetler.
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How Law Firms Can Counteract The Loneliness Epidemic
The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.
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What Remedies Under New Admin's SEC Could Look Like
The U.S. Securities and Exchange Commission is likely to substantially narrow the remedies it pursues over the next few years, driven by the mounting challenges it faces in court, as well as the views of its incoming chair and fellow Republican commissioners on injunctions, penalties and disgorgement, say attorneys at Milbank.
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Texas Fraud Case Shows Dangers Of Faulty Crypto Reporting
The recent sentencing of a man who failed to properly report capital gains from bitcoin sales is a reminder that special attention must be given to the IRS' reporting requirements in order to stay out of the government's crosshairs, says Saverio Romeo at Fox Rothschild.
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.