News & Analysis as of

Compliance in the C-Suite

The ongoing debate whether certain executives are “too big to jail” misses the most important trend in corporate governance – namely, that criminal conduct is rising in the C-Suite. Viewed from a broad perspective, since...more

Corporate Compliance Officers Face Threat of Civil Monetary Penalties and Criminal Prosecution for Institutional AML Deficiencies

While financial institutions have long faced the possibility of civil monetary penalties and criminal prosecution for violations of the Bank Secrecy Act (“BSA”) and its implementing regulations, found at 31 C.F.R. Chapter X,...more

May 2014: White Collar Litigation Update

Jumping the Gun: Public Statements by U.S. Attorneys That Inappropriately Opine on the Guilt of Charged but Untried Defendants. When United States Attorney’s Offices file criminal charges in significant cases, U.S. Attorneys...more

Red Notice Newsleter

Welcome to the May 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month, on the anticorruption front, Avon Products, Inc. (“Avon”) agrees to pay USD $135 million to settle a...more

DOJ Shifts Stance on False Statements Prosecutions - A Change That Could Have a Major Impact on Future White Collar...

The U.S. Department of Justice (DOJ) recently adopted a more defense-friendly position on criminal prosecutions under a commonly used federal charging statute, Section 1001. This statute makes it a crime to "knowingly and...more

News from the Health Law Gurus™: May 2014

News from the Health Law Gurus™ is a weekly summary of notable health law news from around the country with helpful links to related content. ...more

Court of Appeals Hands Down Landmark FCPA Ruling Defining the Term “Instrumentality”

Federal appellate court decisions interpreting the Foreign Corrupt Practices Act (FCPA) are rare. Very rare. Indeed, in the statute’s 36-year history there have been barely more than a handful of appellate court decisions...more

Cooperation Pays in Insider Trading Enforcement and Sentencing

In This Issue: - Overview - Insider Trading Law - Insider Trading Penalties - Cooperating with the Government - Cooperating with the Department of Justice - Cooperating with the Securities and Exchange...more

On The Chopping Block: Banks And Financial Institutions

The Department of Justice has had enough. Banks and other financial institutions are not just on the radar screen – they are on the chopping block. One-by-one watch out – banks and other financial institutions are coming...more

Justice Department Files Appeal Brief in Beanie Babies Case

Two weeks ago, the Government filed its appeal brief in the case of United States v. Ty Warner, a case out of the Northern District of Illinois. It is rare for the United States to appeal a sentence, let alone a sentence in...more

DOJ Offshore Enforcement Update: In Landmark Case, Credit Suisse Pleads Guilty, Agrees to Pay $2.6 Billion Penalty; Swiss Bank...

Yesterday, the Department of Justice announced that Credit Suisse AG pleaded guilty to having assisted U.S. taxpayers in evading the payment of U.S. taxes and agreed to pay a penalty of $2.6 billion. Deputy Attorney General...more

Cyber-Symbolism? DOJ Announces First-Of-Its-Kind Prosecution Of State Actors — But Does It Matter?

The U.S. Justice Department has charged members of the Chinese military with allegedly engaging in economic espionage against American companies. It’s the first time that the United States has leveled such charges against...more

Fourth Circuit Holds Supreme Court’s Janus Ruling Not Applicable in Criminal Cases

The Fourth Circuit Court of Appeals this week rejected the bid of a securities lawyer to vacate his guilty plea on the ground that the conduct to which he pled guilty was no longer criminal under the U.S. Supreme Court’s...more

Esquenazi: DOJ Wins Appeal On “Instrumentality”

The 11th Circuit US Court of Appeals handed the Department of Justice a clear victory in the Esquenazi appeal. Esquenazi was sentenced to 15 years in jail for FCPA violations – the longest criminal sentenced imposed in a...more

Criminal FCPA Cases – Targeting Individuals

The Justice Department warned everyone – they are going to prosecute more individuals for criminal violations of the FCPA. DOJ has backed up its warning. Everyone should expect more criminal cases against individuals....more

Debt Settlement Firm Pleads Guilty In CFPB’s First Criminal Referral

On April 8 the U.S. Attorney for the Southern District of New York announced that a debt settlement company and its owner pled guilty to fraud charges, resolving the first criminal case referred to the DOJ by the CFPB. The...more

Recent Sentences for Federal Tax Crimes in 2014 – Part 3

Today we conclude our review of recent sentences imposed in federal tax crime cases in 2014. In our two previous posts here and here, we reviewed sentences relating to Foreign Bank Account, Tax Evasion, Employment Tax, False...more

DOJ Secures First-Ever Successful Extradition on Antitrust Charge

On Friday, April 4, 2014, the Antitrust Division of the United States Department of Justice (DOJ) announced that Romano Pisciotti, an Italian national, was extradited from Germany for his alleged role in a marine hose...more

Reining In Overbroad Criminal Subpoenas – Is Some Relief In Sight?

In the wake of the national financial crisis, both the U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) publicly committed themselves to enhanced enforcement of federal financial laws...more

The FCPA Person Of The Year – The Prosecutor

To continue a “tradition” on Corruption Crime and Compliance, I like to end the year with recognition of the “person of the year,” referring to the institution which has had the most impact in the enforcement and compliance...more

SEC, DOJ Charge Brokers With Defrauding Clients

The Commission brought charges against three subsidiaries of ConvergEx Group, LLC, and two employees of subsidiaries, based on a scheme to defraud brokerage customers by charging excessive fees. In the Matter of G-Trade...more

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

U.S. Senators Debate Toughening Cartel Penalties

On November 14, 2013, members of the Senate Committee on the Judiciary, Subcommittee on Antitrust, Competition Policy and Consumer Rights heard arguments regarding the effectiveness of current cartel prosecution and...more

Prosecution Of Frauds And Crimes In The C-Suite: What Can We Learn From These Cases And Trends?

The press, members of Congress, and judges have become increasingly vocal in condemning what they perceive to be inadequate criminal prosecution of executives responsible for corporate crimes. In response, U.S. Department of...more

The Implications of DOJ’s Auto Parts Price-Fixing Enforcement Actions

BACKGROUND - In plea agreements filed by the U.S. Department of Justice (DOJ) on September 26, 2013, nine automobile parts manufacturers agreed to pay more than $740 million in criminal fines to resolve charges of...more

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