Conspiracies

News & Analysis as of

FATCA Violation Underlies Latest US Tax and Securities Fraud Charges

Indictment demonstrates the strength of US law enforcement efforts to combat offshore fraud and is the first to charge a FATCA violation. On September 9, 2014, in US v. Robert Bandfield, et al., federal prosecutors in...more

New York Grand Jury Indicts 12 Online Payday Lenders and 3 Individuals

In a shot across the bow of online payday lenders who allegedly disregard state law where their borrowers reside, a New York County grand jury recently voted a criminal usury and conspiracy indictment against 12 companies...more

Red Notice Newsletter - July 2014

Welcome to the July 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month on the anticorruption front, two Noble Corporation executives settle with the U.S. Securities and Exchange...more

EDVA Dismisses "Standards Conspiracy" Suit

Companies and trade associations involved in setting industry standards should take note of a recent decision out of the Eastern District of Virginia this month. ...more

Corporate Liability: The Italian Supreme Court Extends The Scope Of Application Of Legislative Decree N. 231/2001

The Italian Supreme Court has reconsidered the possibility of applying Legislative Decree No. 231/2001 (the “Decree”) not only to the offence of conspiracy, but also to the so-called target offences of a criminal organisation...more

Federal Judge Puts Narcolepsy Drug Horizontal Conspiracy Claims to Bed

On Monday, June 23, 2014, a Federal Judge in the Eastern District of Pennsylvania granted summary judgment for five pharmaceutical companies on horizontal conspiracy claims brought by Apotex Inc. and direct purchaser and end...more

Eleventh Circuit Upholds Convictions in “Pump-and-Dump” Stock Fraud Scheme

The US Court of Appeals for the Eleventh Circuit recently upheld convictions for defendants who engaged in an illegal pump-and-dump stock manipulation scheme. Defendants, who participated with seven others in a conspiracy to...more

Credit Suisse Pleads Guilty to DOJ Charge of Conspiracy to Aid Tax Evasion; FRB and NYDFS Take Related Actions

As widely reported in the financial press, Credit Suisse AG (“Credit Suisse”), a large Swiss bank that maintains a branch and other offices in the United States pleaded guilty to the felony of conspiracy to aid tax evasion by...more

Prison Sentence in Air India Bribery Scheme Sends Deterrent Message to Canadian Executives

On May 23, Nazir Karigar, an agent of Cryptometrics Canada Inc. (Cryptometrics), was sentenced to three years in federal prison under Canada’s foreign bribery statute. Mr. Karigar was convicted last August of conspiring to...more

Corporate and Financial Weekly Digest - Volume IX, Issue 19

In this issue: - FINRA Proposes to Amend Rule 11892 - SEC Approves FINRA Rule Change to Limit Self-Trading - FATCA Transitional Relief and Extension of Time for the Implementation of New Account...more

D&O Carrier Allowed to Recoup Defense and Indemnity Costs After Employees Plead Guilty to Misconduct

In Protection Strategies, Inc. v. Starr Indemnity & Liability Co., the U.S. District Court for the Eastern District of Virginia allowed an insurer to recoup more than $670,000 in costs paid for the insured first to respond to...more

The BFF Killers

Skylar Neese was a 16-year-old, straight-A student at University High School in Star City, West Virginia. She was the only daughter of Dave and Mary Neese who not only excelled academically, but also in her job at a local...more

Ex-Israeli Banker Indicted for Assisting Americans in Tax Fraud

On April 30, 2014, a federal grand jury in Los Angeles, California, indicted Shokrollah Baravarian for Klein conspiracy: conspiracy to defraud the United States by impairing and impeding the IRS. ...more

Labor & Employment E- Note - March 21, 2014

In This Issue: - High Court Mulls if Amazon Must Pay for Worker Security Checks - Silicon Valley Class-Action Accuses Executives of Hiring Collusion - EEOC Issues New Guidelines for Religious Bias as Complaints...more

DOJ Files Criminal Charges Against Former Bitcoin Exchange Head

On January 27, 2014, the Department of Justice publicly announced it had filed criminal charges against Charles Shrem for operating an unlicensed money transmitting business, conspiracy to commit money laundering, and failure...more

Martoma by the Numbers

This week a jury in the U.S. District Court for the Southern District of New York rendered a guilty verdict against the former SAC portfolio manager on two counts of securities fraud and one count of conspiracy to commit...more

Antitrust and Competition Newsletter - February 2014

U.S. Supreme Court Holds That Parens Patriae Suits Are Not Removable to Federal Court as “Mass Actions” Under the Class Action Fairness Act - On Jan. 14, 2014, the U.S. Supreme Court held that a parens patriae...more

Should the Government’s Ability to Use Conspiracy Charges Be Limited?

Last week, the Justice Department’s Antitrust Division (the “Division”) filed a motion for rehearing after significant criminal convictions were overturned on statute of limitations grounds. A conspiracy is deemed to continue...more

"Antitrust and Competition: Nonmerger Enforcement Activity Heats Up on Both Sides of the Atlantic"

U.S. and European antitrust agencies had similar enforcement priorities last year, a trend we expect to continue in 2014. Nonmerger enforcement will continue to focus on intellectual property, financial services and...more

'Honest Services' Statute

Former Virginia Governor Bob McDonnell may not have violated any Virginia statutes, yet he and his wife both face criminal prosecution under the federal “Honest Services” statute On Tuesday, January 21, 2014, former...more

The IRS and Gun Control

Earlier this month, the First Circuit Court of Appeals held in a case of first impression that evidence seized by IRS special agents from the taxpayer's home was admissible even though IRS Special Agents were armed when they...more

Sixth Circuit Spoils Milk Processor’s Win by Reinstating Class Action Alleging Conspiracy to Restrict Milk Supply

The Sixth Circuit recently revived an antitrust class action alleging a conspiracy between a processed milk bottler, a raw milk supplier and a raw milk processor to restrict milk supply in violation of Section 1 of the...more

DOJ, SEC Announce Anti-Bribery Enforcement Actions Against U.S. Agribusiness Firm

On December 20, the DOJ and the SEC announced separate enforcement actions against a major U.S. agribusiness firm and one of its foreign subsidiaries. In the DOJ action filed in the U.S. District Court for the Central...more

Patent Trolls, Anti-Trolls, and Antitrust Law Collide in Patent Licensing Dispute

We previously wrote that regulators are considering using antitrust laws to reign in perceived abuses by non-practicing entities or, more familiarly, “patent trolls” – entities that purchase the rights to patents not to...more

Raminfard Guilty Plea Highlights Complexity Of International Tax Compliance, Seriousness Of Violations, Importance Of IRS Offshore...

Los Angeles Businessman, David Raminfard, pleaded guilty on November 4th, 2013 in the Federal District Court in Los Angeles to conspiring to defraud the United States, the Justice Department and Internal Revenue...more

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