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Scope Of The Jury Trial Right In Civil FIRREA Actions

In recent years, the U.S. Department of Justice has stepped up its use of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 to pursue civil enforcement actions against financial institutions and their...more

Is Counterfeit Currency A Bank Note?

Counterfeiting was once considered to be tantamount to treason. It is still a serious, but not capital, crime. In fact, it is one of only four crimes specifically mentioned in the Constitution. Notably, however, the...more

"Cross-Border Investigations Update - June 2016"

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a look at recent cases and enforcement trends, including proposed amendments to China’s commercial bribery law, the use in U.S. courts of compelled...more

Testing The 5th: Compelled Testimony From Foreign Regulators

The circumstances of the prosecution of Anthony Allen and Anthony Conti exemplify how cross-border cooperation and parallel investigations can give rise to novel issues in a subsequent criminal trial. Allen and Conti were...more

Supreme Court: Government Cannot Restrain Untainted Assets

Since the Supreme Court handed down its decisions in U.S. v. Monsanto, 491 U.S. 600 (1989) and Caplin & Drysdale, Chartered v U.S., 491 U.S. 617 (1989) is has been well established that a defendant’s Sixth Amendment right to...more

An Important Check On The Abuse Of Government Authority

As citizens of a nation founded on the rule of law, we depend upon law enforcement and prosecutors to protect us from harm and from those who infringe our liberty. In exchange for this protection, we permit these public...more

Supreme Court Update: Elonis V. United States (13-983), Taylor V. Barkes (14-939) And Bank Of America V. Caulkett (13-1421)

The Court handed down four opinions and a summary reversal to kick off the busiest month of the term. This update will cover Elonis v. United States (13-983), the much anticipated "Facebook threats" case, along with Taylor v....more

"France's Double-Trial System for Market Abuses May Be Headed for Reform"

In 2015, the French double-trial system for market abuses will be referred to the Constitutional Council for an assessment of the system’s constitutionality under the double jeopardy rule (or, using the Latin maxim, the ne...more

Guindon: SCC Hears Arguments in Penalty Case

The Supreme Court of Canada heard oral arguments today in the case of Guindon v. The Queen (Docket No. 35519). At issue in the case is the nature of the third-party penalty in section 163.2 of the Income Tax Act....more

FBAR Penalty to Face Excessive Fines Clause Test

Last week, a federal jury in Miami found that Carl Zwerner had willfully failed to disclose his foreign bank account to the Treasury Department for calendar years 2004, 2005 and 2006. Zwerner now potentially owes the United...more

IRS Sharpens Its Sword Of Damacles

In a jury verdict this wake in the Southern District of Florida, the IRS has a sharpened Sword of Damacles to hang over the head of FBAR reporting violators. In U.S. v. Zwerner, a jury found that Carl Zwerner WILLFULLY failed...more

Reining In Overbroad Criminal Subpoenas – Is Some Relief In Sight?

In the wake of the national financial crisis, both the U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) publicly committed themselves to enhanced enforcement of federal financial laws...more

Do Laws Have An Expiration Date?

Last week, I wrote about a bill, AB 129, currently pending in the California legislature that would amend California Corporations Code Section 107. As I had pointed out in an even earlier post last May, that statute...more

Update on the UK Confiscation and Restraint Regime

The National Audit Office has published a report dated 17 December 2013 (the “NAO Report”) on confiscation orders, which are the main mechanism that the UK Government uses in carrying out its policy to deprive criminals of...more

Offshore Accounts Holders Have No Fifth Amendment Protections

In what is becoming an increasingly used attack vehicle, the Department of Justice (DoJ) is using the “required records doctrine” to compel taxpayer’s to produce what may be incriminating evidence of ownership or control of...more

CFPB: Spying to Protect the Consumer

It all began with a Bloomberg article. Although the CFPB spying on the financial habits of at least 10 million consumers seems to be a far cry from NSA's spying on the telephone calls, emails, snail mails, website usage, and...more

IRS Seeking 50% x 4 Penalties In FBAR Nonreporting Case

Taxpayers are required to disclose their ownership interests in foreign bank and financial accounts by filing a Form TD F 90-22.1, ...more

Supreme Court Settles Fifth Amendment Required Records Issue in Context of Offshore Bank Accounts

On May 13, 2013, the Supreme Court denied a taxpayer’s petition for certiorari regarding the Seventh Circuit’s August 27, 2012, decision applying the Required Records Exception to override the taxpayer’s Fifth Amendment...more

Eleventh Circuit Holds that Production of Foreign Bank Account Records May be Compelled in Criminal Investigation Under Required...

The Eleventh Circuit recently joined the Fifth, Seventh, and Ninth Circuits in holding that subpoenaed foreign financial records properly fall within the Required Records Exception to the Fifth Amendment privilege against...more

White Collar Watch - March 2013

In This Issue: - Eleventh Circuit Holds that Production of Foreign Bank Account Records May be Compelled in Criminal Investigation Under Required Records Exception to Fifth Amendment Privilege - Supreme Court...more

Credit Crunch Digest -- February 2013

This issue of the Credit Crunch Digest focuses on fines against Royal Bank of Scotland for alleged Libor rate rigging; the Department of Justice’s lawsuit against Standard & Poors; developments in a mortgage-backed securities...more

Fourth Circuit Affirms Finding of No Fifth Amendment Violation in Connection with 45-Year Conviction for $100 Million Investment...

The US Court of Appeals for the Fourth Circuit recently affirmed a defendant’s conviction and 45-year sentence, holding that the defendant’s Fifth Amendment rights had not been violated where the government simply had limited...more

Grassley: HSBC Should Face Criminal Charges [Video]

Dec. 19 (Bloomberg Law) -- United States Senator Charles Grassley (R - Iowa) and Bloomberg Contributing Editor Neil Barofsky talk with Bloomberg Law's Lee Pacchia about HSBC's recent settlement with US authorities over claims...more

State Treasurer and Chairman of the Massachusetts State Lottery Commission Letter to Sen. Reid & Sen Kyl Objecting to Draft...

Below is a complete text-version of the attached -- Mass. Treasurer Steven Grossman's Letter to Sen. Reid and Sen. Kyl objecting to the Draft iGaming Prohibition Bill expected to be dropped during the Lame Duck session of...more

Borrowing Money From A Foreign Government May Make You A Subversive Organization In California

In 1941, Robert Noble, Ellis O. Jones and several other individuals were indicted for violating California’s Subversive Organization Registration Law. The defendants were active in a pro-German group called the Friends of...more

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