Lying to Regulators … What’s The Risk?

more+
less-

In one of the most high-profile cases of its time, Martha Stewart was convicted of obstructing justice as a result of her intentional misrepresentation to Securities and Exchange Commission and FBI investigators regarding the circumstances of her sale of ImClone Systems stock. While Stewart was not criminally charged with insider trading as a result of her actions, she was ultimately convicted for her participation in a scheme to cover up her actions and the actions of her broker. Stewart’s obstruction conviction resulted in five months of jail time and a five-month home confinement sentence plus a fine of $30,000. Not unexpectedly, obstruction of justice charges are not limited to such high-profile cases.

Chapter 73 of Title 18 (18 USC §1501, et seq.) of the U.S. Code provides the statutory scheme for the federal crime of obstruction of justice. Importantly, as far as financial instructions are concerned, Section 1517 provides:

Originally Published in Bank News - August 2013.

Please see full Article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

FBI
SEC

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Polsinelli | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×