Asset Freeze

News & Analysis as of

Gatekeepers For Preventing Fraud: Educated Investors

The halting of another offering fraud on Friday by the SEC has, unfortunately, become routine. Offering frauds in which promoters take the hard earned dollars of investors and give them rosy dreams and worthless pieces of...more

UK Financial Regulatory Developments - July 2016 #3

CPS pursuing assets in land banking fraud case - Four directors, two of whom had already been disqualified as directors by the Financial Services Authority (now FCA), have been convicted of conspiracy to defraud,...more

Notification Injunction to Protect Against Dissipation of Assets

A possible alternative to the freezing injunction. A judgment has recently provided helpful guidance on a creative form of injunction. The “notification order” compels a defendant to give notice to the claimant before...more

SEC: Online Dating Site Leads to Engagement, Investments, Fraud

Online dating services are popular and continue to proliferate. A quick Google search yields lists of numerous sites. Typically they promise more matches and more marriages quickly — and with little effort. The sites do not...more

Court Discusses Slayer Rule in Texas And Affirms Judgment For Bank That Froze Account

Preface to Case: The Texas Constitution states that “[n]o conviction shall work corruption of blood, or forfeiture of estate.” Tex. Const. Art. I § 21 (emphasis added). The Texas Estates Code also states as much. Tex. Est....more

SEC – A Computer and Twenty-Seven Minutes To Profit

The SEC’s latest stock manipulation case might be titled “How to make (almost) over $400,000 in just 27 minutes.” The key is to use Williams Act filings not to alert the market and issuer to a potential take-over but to fake...more

New sanctions impose further restrictions on North Korea

The United Nations, the European Union and United States recently expanded sanctions on North Korea, issuing new restrictions which impact the mineral, energy, shipping, banking, finance, and aviation industries. United...more

CR&B Alert - Commercial Restructuring and Bankruptcy News - May 2016, No. 2

Can A Bank-Appointed Director Block A Bankruptcy Filing By A Borrower? The scenario is fairly typical. A loan goes into default and the bank and the borrower enter into a Forbearance Agreement. One of the conditions of...more

Court orders, conspiracies and the long arm of the English courts

Overseas banks beware as the tort of unlawful means conspiracy could open up new ways of punishing those who aid defendants aiming to evade freezing orders....more

Connecticut Collections: How to get paid if you are owed money? Part 2: Prejudgment Remedy ("PJR") [Video]

Collections in Connecticut - how to get paid if you are owed money? Collecting money owed to you or your company can be frustrating. When making a claim for damages in Connecticut, unlike in most other states, a plaintiff...more

SEC Settles With Apple Stock Day Trader

Apple stock is well known and popular among investors. It is also attractive to fraudsters who focus on the high tech giant’s shares for schemes. One scheme, for example, brought down New York brokerage Rochdale Securities...more

How to Avoid or Respond to Wire Transfer Fraud

Businesses are increasingly falling victim to wire fraud scams – sometimes referred to as “man-in-the-email” or “business email compromise” scams. Although there are multiple variants, a common situation involves an attacker...more

Good News: The Feds Can’t Freeze Your Assets to Stop You from Hiring a Lawyer

There are limits to what the government can take from you. The Supreme Court recently ruled that the Constitution forbids the government from freezing a defendant’s “untainted” assets in advance of prosecution. The ruling is...more

A Primer on Canadian Sanctions Legislation

Canada, like other major jurisdictions, has introduced a broad range of economic and financial sanctions targeting foreign states and their nationals, as well as various terrorist organizations. Given that Canada is in...more

Supreme Court Clarifies That Untainted Assets Cannot Be Frozen Pre-Trial By The Government

Last week the Supreme Court further clarified the procedures and limits regarding the government’s ability to freeze assets in connection with criminal prosecutions. Following the 2014 decision in Kaley v. United States,...more

Supreme Court Holds Sixth Amendment Right to Counsel Limits Pre-Trial Asset Freezing

Last week the Supreme Court in Luis v. United States, No. 14-419, 578 U.S. __ (2016) limited the government’s reach to freeze a criminal defendant’s assets before trial or other judicial proceedings. Justice Breyer, writing...more

You Can Pay Your Lawyer: Supreme Court Recognizes Limits on Pretrial Asset Restraints

Before the U.S. Supreme Court’s ruling last week in Luis v. United States, the government could freeze a criminal defendant’s assets before trial even if they bore no connection to the alleged crimes. With the ruling, if the...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

From Strength to Strength: Financial Sanctions

On 7 March 2016, the new Police and Crime Bill (the “Bill”) received its second reading in Parliament. The stated aims of the Bill are to bring consistency to all penalties across the UK financial sanctions regimes, increase...more

Supreme Court Update: Luis V. United States (14-419)

Here's a line-up you don't see in every (read: any) syllabus: "BREYER, J., announced the judgment of the Court and delivered an opinion, in which ROBERTS, C.J., and GINSBURG and SOTOMAYOR, JJ., joined. THOMAS, J., filed an...more

The Supreme Court - March 2016 #6

The Supreme Court of the United States issued one decision on March 30, 2016: - Luis v. United States, No. 14-419: Petitioner Sila Luis was charged with various health care related crimes. Pursuant to a federal...more

Supreme Court Rules Against Freezing "Untainted" Assets

In a ruling that could have far-reaching implications for criminal defendants’ right to counsel of their choice, the Supreme Court decided on March 30, 2016 that the government cannot freeze “untainted” assets that are not...more

English Law Jurisdictions Can Offer Effective Tools in Cross- Border Litigations

A client comes to you with a case that involves assets, documents, or information in England or an English-law based jurisdiction. Do you know what options you have and how to best leverage them?...more

European Union and United Kingdom Sanctions Update: March 2016

Below is a summary of developments since our previous update in January relating to European Union (“EU”) sanctions on Iran, Russia, Belarus, North Korea and other jurisdictions as well as highlights of recent changes with...more

Africa Update - March 2016 #2

Leading the News - Cote d’Ivoire - On March 13th, Al Qaeda in the Islamic Maghreb (AQIM) gunmen armed with assault rifles stormed the beach hotels in Grand-Bassam, a region population with Ivoirian and Western...more

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