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Insider Dealing

On December 13, the FSA published a press release announcing that Thomas Ammann, a former investment banker and FSA Approved Person at Mizuho International plc, had been sentenced to 2 years and 8 months imprisonment for two...more

The Government's War Against Financial Industry Crimes Continues with a Record-Breaking Insider Trading Case, But It's Still Too...

The Department of Justice and Securities Exchange Commission loudly have trumpeted victories achieved in their renewed battle against insider trading and Wall Street malfeasance, repeatedly warning that there are more cases...more

Inside the Mind and Behind the Numbers: Ponzi Schemes

John Hanson, a former FBI Agent and practicing forensic accountant, takes you inside of his mind and behind the numbers of a Ponzi Scheme to answer the universal question: "Where did all that money go?" Based on actual...more

October 2012: White Collar Litigation Update

In This Issue: - "Second Circuit Clarifies “Substantial Assistance” Standard for Aiding and Abetting Liability in SEC Enforcement Actions" - "NLRB Prohibits Employers from Requesting that Employees Keep Silent...more

FSA’s Proposal to Prevent the Recurrence of the AIJ Scandal and the Results of the Second Survey

On September 4, 2012, the Financial Services Agency of Japan (“FSA”) published its proposal of measures to prevent the recurrence of the AIJ scandal while providing the opportunity to the public to provide their opinions...more

Federal Court Declines to Enjoin AG Prosecution of Claims Subject to Class Settlement

On August 22, the U.S. District Court for the Middle District of Florida denied a major bank’s motion to enjoin prosecution by two state attorneys general of claims related to the bank’s credit card payment protection...more

HM Treasury Consults on Sanctions for Directors of Failed Banks

On July 3, HM Treasury published a consultation paper on sanctions for the directors of failed banks. ...more

SFO Press Release on Manipulation of LIBOR

On July 2, the Serious Fraud Office (SFO) published a press release regarding the manipulation of the setting of the London Interbank Offered Rate (LIBOR). In the press release, the SFO stated that it had been working...more

InfoBytes Special Alert: DOJ Increasingly Pursuing Both Monetary and Non-Monetary Relief in Civil Enforcement Actions

Last month, in a potentially significant but largely overlooked development, the Department of Justice ("DOJ") signaled that it would "increasingly" pursue "innovative, non-monetary measures" when it settles civil fraud...more

Speech by Tracey McDermott on FCA’s Approach to Enforcement

On July 2, the FSA published a speech by Tracey McDermott, acting director of the FSA’s Enforcement and Financial Crime Division. The speech focused on credible deterrence and the approach that the Financial Conduct Authority...more

EU Council Compromise Proposal on MAR

On 12 June 2012, the Presidency of the Council of the EU published a new compromise proposal (dated 11 June 2012) on the proposed Regulation on insider dealing and market manipulation (MAR). ...more

Case Study: US V. Milovanovic

Originally published in Law360, New York on June 13, 2012. Government contractors know to train their employees, agents and subcontractors to comply with the myriad laws and regulations governing their business...more

Blue Index Trio Plead Guilty to Insider Dealing

On 28 May 2012, the FSA announced that three defendants with links to Blue Index Ltd, a contract for difference brokerage, pleaded guilty to charges of insider dealing. These are James Sanders, a director of Blue Index,...more

Sentencing Panel Amends Guidelines for Mortgage Fraud

Responding to a requirement in the Dodd-Frank Act that it review, and if appropriate, amend, the federal sentencing guidelines for mortgage fraud, the U.S. Sentencing Commission set forth on April 13, 2012, two new provisions...more

Medicare Strike Force Team Charges 107 Individuals for Approximately $452 Million in False Billing

On May 2, DOJ and HHS announced charges against 107 individuals, including doctors, nurses and other licensed medical professionals, across the country for allegedly participating in Medicare fraud schemes totaling $452...more

Health Care Enforcement: 2012 Trends Quarterly Review — Part IV in a Continuing Series on Health Care Enforcement

Introduction Mintz Levin’s Health Care Fraud Enforcement Defense group has published a series of “Year in Review” articles discussing its observations about health care fraud enforcement trends in 2011 and its opinions...more

Medicare Fraud Strike Force Bust Involves Highest Amount of False Billings in a Single Takedown

2012 is already a record-breaking year in health care fraud enforcement. This week Attorney General Eric Holder and Secretary of the Department of Health and Human Services (HHS) Kathleen Sebelius announced the biggest...more

Friday Weekly Roundup - April 27, 2012

Taking it from the top: - Last Friday, the SEC sued two twin brothers from the U.K. with creating and promoting a fake “stock picking robot” that purportedly identified penny stocks set to double in price. “Instead, the...more

Senate Committee Holds Hearing on Health Care Fraud Enforcement

A hearing titled Anatomy of a Fraud Bust: From Investigation to Conviction held by the Senate Committee on Finance (Committee) on April 24th allowed federal health care agencies to both tout their fraud-fighting successes,...more

Outsourcing Company to Pay Record $500 Million Settlement in CityTime Investigation

Science Applications International Corp (SAIC) has agreed to pay more than $500 million in fines and penalties to settle federal charges alleging that the outsourcing company overcharged the city of New York for work and...more

Friday Weekly Roundup - April 20, 2012

I’d like to try a weekly post with short bits recapping what I think are the most interesting stories or cases from the past week. We’ll see how it works, but for this week: - Matt Solomon, an AUSA in the District of...more

Insiders, Outsiders, Rogues And Sophisticates: Lessons in Business Protection from the Coal Face Market Abuse and Investor Losses

In This Presentation: - FSA Enforcement 2012 - Novel Approaches - Market Abuse- Insider dealing - Inside Information - No Penalty – s123(2) FSMA - Background - Punch Taverns...more

Securities Law Doppelgängers

Over the years, I’ve noted that a number of evil twins have walked the corporate securities law stage. Other People’s Money O.P.M. Leasing Services, Inc. was a large computer leasing company that crashed into...more

Business Crimes Perspectives -- DOJ’s Recent Trend of Prosecuting Individuals for FCPA Violations Continues with Longer Prison...

The longest prison term ever imposed in a Foreign Corrupt Practices Act (“FCPA”) case -- fifteen years -- was recently given to Joel Esquenazi, former president of Terra Telecommunications Corporation, after a jury convicted...more

DOJ Escalates Its War on Health Care Fraud: GlaxoSmithKline Agrees to Pay Record-setting $3 Billion to Settle U.S. Investigations

British pharmaceutical company GlaxoSmithKline (GSK) announced on November 3, 2011, that it had reached an agreement in principle with the United States government to resolve multiple federal investigations regarding the...more

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