Civil Forfeiture

News & Analysis as of

SAC Civil Forfeiture Action Raises Stakes for Insider Trading

The U.S. Department of Justice (“DOJ”) has unveiled a potentially potent new weapon for pursuing financial crimes. On July 25, 2013, U.S. Attorney Preet Bharara criminally indicted Steven A. Cohen’s eponymous hedge fund,...more

SAC Pleads Guilty To Five Counts Of Securities Fraud; Agrees To Pay Largest Fine In History for Insider Trading Offenses

SAC Capital Advisors pleaded guilty last Friday to securities fraud claims brought by the U.S. Attorney in Manhattan. If approved, the deal would require SAC to pay a $1.2 billion penalty, including a $900 million criminal...more

Criminal Forfeiture and SAC Capital

As you probably know, federal prosecutors indicted SAC Capital Advisors LP and a number of related entities last Thursday on wire fraud and securities fraud charges connected to its alleged insider trading over the last five...more

International Bribery Charges Against Broker-Dealer Employees Result From SEC Exam

On May 7, the DOJ charged two employees of a U.S. broker-dealer and a senior official in Venezuela’s state economic development bank for their alleged roles in what the DOJ describes as a “massive international bribery...more

Department of Justice Enters Historic Agreement with Poker Stars, Full Tilt Poker

Full Tilt Poker, Poker Stars, and the U.S. Department of Justice announced today that Poker Stars will acquire Full Tilt Poker’s assets in a transaction that ends the DOJ’s civil forfeiture case against Full Tilt. Both Full...more

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