Topic: Fraud

Feds Take FCPA Fight to Wall Street

U.S. regulators just took the fight against bribery and corruption to a new arena: Wall Street. Attorneys John Goselin and Mauro Wolfe of Duane Morris explain: “On May 7, 2013, the U.S. Attorney’s Office for the Southern District of New York unsealed extraordinary criminal charges against two registered representatives of a U.S. broker-dealer and a… Read more »

[Video] Corporate Law Report – On SEC News

Welcome to the latest edition of the Corporate Law Report. You know what to do: Watch the video overview above and, for any topics that interest you, go deeper with the legal analysis and commentary below>> 1. Gabelli v. SEC: Supreme Court in Gabelli: Clock Starts Ticking When Fraud Occurs, Not When It’s Discovered –… Read more »

The SEC Speaks. Are You Listening?

“SEC Chairman Elisse Walter … remarked that the SEC should work to give investors access to information and protect them from unnecessary risks such as fraud, market manipulation, insider trading and market structure failures, but should not discourage all risk-taking, in order to allow for continued growth in public offerings.” (Katten Muchin Rosenman) In late… Read more »

Supreme Court Confirms Five-Year Statute of Limitations for SEC Penalties

“… the only federal crimes that have no statute of limitations are capital offenses that warrant the death penalty and certain terrorism, child abduction, and sex offenses. If the SEC were allowed an indefinite period of time in which to bring enforcement actions, the fraud alleged in those cases would be on par with the… Read more »

False Claims Act Reaps Nearly $5 Billion for DOJ in 2012

“While everyone appears to be spending time on FCPA enforcement and compliance, companies need to spend more time in protecting themselves from the False Claim Act.” (Michael Volkov) The Department of Justice just announced that it recovered a record $4.9 billion from False Claims Act judgments and settlements in the 2012 fiscal year, and the… Read more »

Feds Step Up Fight Against Medicare Fraud

Earlier this month, the federal Medicare Fraud Strike Force charged more than 100 people for their roles in an alleged $452 million false billing scheme. It was an important victory for authorities, and reflects the Obama administration’s increased efforts to combat fraud in the Medicare program. The latest arrests are part of broader effort to… Read more »

$25B Mortgage Foreclosure Settlement: Lawyers Weigh In

We’re beginning to see insightful legal commentary on the $25 billion foreclosure fraud settlement formally filed on March 12, 2012 between the federal government, 49 state attorneys and the five largest mortgage servicers: Bank of America, JP Morgan Chase, Wells Fargo, Citigroup, and Ally Financial. [Update, March 19, 2012: see below for a video interview… Read more »

White-Collar Conviction Vacated

“In an unusual move,” writes Sarah Riley Howard from Warner Norcross & Judd’s White Collar practice, “the Sixth Circuit ordered that a Tennessee businessman’s conviction for bank fraud must be vacated.” Convicted for his participation in a scheme to conceal the amount of loans granted his business, Timothy Parkes was acquitted after spending more than… Read more »

Nonprofit Law: A Legal Reading List

For your reference, here’s a roundup of recent legal commentary and analysis to do with the various issues and concerns particular to nonprofit organizations: On Misconduct… Can an Effective Whistleblower Policy Prevent Misconduct? (Ober|Kaler)  “It is not enough to have whistleblower policies on paper – executives of academic institutions, nonprofits and for profit organizations bear… Read more »