Read Criminal Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
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On May 28, the DOJ announced the unsealing of an indictment against a global virtual currency service and seven of its principals and employees, alleging that the firm and its employees knowingly facilitated money laundering...more
In a three-count indictment unsealed on May 28, 2013, the U.S. Attorney’s Office for the Southern District of New York alleged that the owners, founders and managers at Liberty Reserve, an online currency exchange, conspired...more
On Tuesday, May 28, 2013, the Department of Justice (DOJ) announced the unsealing of an indictment against Liberty Reserve, S.A. (Liberty Reserve) in the Southern District of New York for operating a $6 billion money...more
On May 28, 2013, federal prosecutors unsealed an indictment charging seven men with allegedly operating an organization known as “Liberty Reserve,” which prosecutors allege was established for the sole purpose of creating an...more
Asset Seizures and Arrests Mark Recent Federal Virtual Currency Enforcement Actions -
Federal authorities have initiated several recent enforcement actions that are indicative of continuing regulatory changes in the...more
Federal authorities executed a seizure warrant against a bank account associated with one of the leading bitcoin exchanges. The warrant was not based on bitcoins themselves being illegal. Rather, the entity was not registered...more
Bad news travels fast. On May 14, Magistrate Judge Susan Gauvey of the United States District Court for the District of Maryland signed a Seizure Warrant authorizing the Federal Government to seize “the contents of Dwolla...more
FinCEN recently issued interpretive guidance to clarify that it views certain activities involving convertible virtual currencies as money transmission services under the Bank Secrecy Act and FinCEN regulations. If your...more
Chad Elie v. Ifrah Law PLLC: Complaint (Exempt From Arbitration)
DISTRICT COURT CLARK COUNTY NEVADA
Case No. A-13-679951-C
Dept No.: XV I
Filed April 11, 2013
S!GAL CHATTAH, ESQ.
Nevada Bar No.: 8264
A lot of companies transact in credits that might be called “virtual currency.” Most of these companies probably do not consider themselves financial institutions. Many have never considered the possibility that they need to...more
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
Timothy Lee at Forbes magazine has reported today that the Financial Crimes Enforcement Network (FinCEN), a branch of the Treasury Department, has issued new guidelines on the legal status of Bitcoin under U.S. money...more
In This Issue:
- INDUSTRY SCORECARD -
Technology: An executive of AU Optronics Corp. (“AUO”) was convicted of price-fixing in the LCD flat screen markets in a re-trial. Steven Leung was involved in the sale of...more
Bitcoin – it sounds like a token you might use to play skeeball at a beachside arcade. It is actually a relatively new, virtual online “currency” being used for payments across the Internet. While some observers have noted...more
On December 21, the OCC issued Alert 2012-16, which provides a general description of recent distributed denial of service (DDoS) attacks directed at national banks and federal savings associations, along with risk mitigation...more
We reported in July on a First Circuit Court of Appeals decision finding that a bank failed to implement commercially reasonable security methods to prevent unauthorized transfers by a criminal that gained the online banking...more
Originally published in MainBiz on November 26, 2012.
Last July, the federal First Circuit Court of Appeals issued a first-of-its kind decision regarding the obligations of banks and their commercial customers in...more
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
This article is a shortened version of a legal memorandum published on the NC Bankers Association website.
Criminal schemes to steal funds through fraudulent wire transfers are increasing in frequency and sophistication....more
State of New York Indictments of Elaborate Sports Betting Ring Involves Offshore Online Sports Betting Web Sites Allegedly Utilized by the Defendants for illegal sports wagering in the US:
In addition to traditional...more
On October 3, 2012, Judge Lewis A Kaplan of the United States District Court for the Southern District of New York sentenced Chad Elie to five months in prison for his role in facilitating the processing of payments for three...more
Last week the FBI released a fraud alert warning financial institutions that cyber criminals have been using tactics such as spam and phishing emails to obtain employee log-in credentials. After obtaining the credentials the...more
On September 17, the FBI, together with the Financial Services Information Sharing and Analysis Center and the Internet Crime Complaint Center, issued a fraud alert to advise financial institutions of a new trend in which...more
The Federal Crimes Watch Daily is a daily newspaper that discusses current federal criminal issues written by a federal criminal defense attorney....more
A recent insider trading case against a doctor who was involved in clinical trials of a drug to treat hepatitis and allegedly tipped material, non-public information relating to those trials to a hedge fund manager, is...more
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