Corporate Fraud

News & Analysis as of

Department of Justice Mandate: Prosecute Individuals for Corporate Wrongdoing

On September 9, 2015, Sally Quillian Yates, the Deputy Attorney General of the U.S. Department of Justice (DOJ), issued a directive to the leaders of the divisions of the DOJ and to U.S. Attorneys to combat corporate fraud by...more

DOJ Targets Executives and Individuals in Corporate Investigations

Responding to criticism stemming from a lack of individual prosecutions as a result of the financial crisis, Deputy Attorney General Sally Yates has issued a new guidance memorandum establishing six new steps for federal...more

DOJ Unveils New Policy on Individual Liability in White-Collar Prosecutions

On September 9, the Department of Justice (DOJ), issued a policy memorandum concerning DOJ’s goal of holding individuals accountable for corporate fraud or other misconduct. While some of the guidelines set forth in the...more

Department of Justice Focuses on Individual Accountability

In a move certain to attract the attention of corporate executives, the Department of Justice, on September 9, 2015, issued a new policy memorandum regarding the prosecution of individuals in corporate fraud cases. Titled...more

DOJ Provides Focused “Guidance” on Prosecuting Corporate Individuals

After receiving significant criticism on the Department of Justice’s failure to prosecute corporate executives involved in the financial crisis in 2008, Sally Yates, the Deputy Attorney General issued a seven page memo...more

Misconduct in the C-Suite: The United Airlines Scandal

It was like a bolt out of the blue – United Airlines’ CEO and two senior executives hastily announced their resignation as a result of their involvement in a bribery scandal with the New York Port Authority....more

DOJ: Companies, Serve Up Your Executives!

On September 9, 2015, the Department of Justice (“DOJ”) issued an internal memorandum regarding individual accountability for corporate wrongdoing. The memo, authored by Deputy Attorney General Sally Quillian Yates, is aimed...more

DOJ Appoints Compliance Counsel to Provide Advice in FCPA Investigations

The U.S. Department of Justice (DOJ) is creating a new compliance counsel position in the Criminal Division’s Fraud Section to scrutinize the compliance programs of companies under investigation for possible Foreign Corrupt...more

Whistleblowing: An Employer’s Guide To Global Compliance

In This Issue: - Foreword - A Summary Across Five Continents - Law and Sanctions - The Legislative Framework: Whistleblower Protections Across the Globe - Global Differences: The Cultural...more

"United Kingdom: The SFO Focuses on Corporate Fraud and Corruption"

Once the subject of speculation regarding its possible consolidation with other agencies, the Serious Fraud Office (SFO) had an exceedingly busy 2014, with all signs suggesting that it will continue its aggressive enforcement...more

Victims Of Corporate Fraud Compensation Fund

In the waning days of the 2001-2002 legislative session, then Assemblymember Kevin Shelley gutted and amended AB 55. As introduced, AB 55 would have amended the Elections Code. Instead, AB 55 became the vehicle for the...more

The Network, BDO Consulting Report Shows Fraud Reporting At Record High During Q4 2013

Reporting percentage, volume of fraud-related incidents reach record-high levels - ATLANTA – May 29, 2014 – The Network, Inc., a leading provider of governance, risk and compliance (GRC) solutions, and BDO Consulting,...more

SEC Division of Enforcement Realigning Focus

Andrew Ceresney, the new co-head of the Division of Enforcement for the SEC, recently remarked that the agency is shifting its efforts to focus on areas that have not received as much attention in the years following the...more

California Creates Complete Chaos By Rewriting Anti-Fraud Statute, But “We Are Against Fraud Aren’t We?”

In my very limited encounters with the late Harold Marsh Jr., I recall that he didn’t readily embrace proposed “fixes” to the Corporations Code. As I too get older, I’ve come to appreciate his perspective. For example,...more

Delaware Corporation Law Statute Amended to Provide for Ratification and Validation of Defective Corporate Acts

As part of recent amendments to the Delaware General Corporations Law (DGCL), two new sections were added to the DGCL to facilitate the ratification of so-called “defective corporate acts” that would otherwise be invalid due...more

Dog Bite Defense No. 4 And The Defense Of An FCPA Claim

As most readers of this blog know, I am a recovering trial lawyer. I almost always acted as defense counsel for corporations in my trial lawyer career....more

UK Law: Deferred Prosecution Agreements Appear a Step Closer

Deferred prosecution agreements (DPAs), whereby a prosecution for corporate crime is suspended in return for a promise of good behaviour, a possible fine and other conditions, appear likely to be introduced next year in the...more

The DOJ’s Antitrust Division Cuts Back On Its Carve-Out Policy For Corporate Officers In Plea Agreements

Last Friday, Bill Baer, Assistant Attorney General for the Department of Justice’s Antitrust Division, announced that the Division will no longer publicly name the executives excluded from immunity granted in corporate cartel...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 5, 2013


Does The Victims Of Corporate Fraud Compensation Fund Deny Due Process?

In notorious defiance of the California Constitution, the legislature in 2002 established the Victims of Corporate Fraud Compensation Fund. See Victims of Corporate Fraud. The purpose of the fund is to provide ”restitution to...more

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