News & Analysis as of

Fraud

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 

Court Dispenses With Fraud Defense Based on Gumball Victims’ Disclaimers

The Chicklets and Runts vending machine at your local car repair shop last decade may have been one piece of a fraudulent enterprise that ensnarled roughly 7,000 victims. As CEO of Vendstar, Defendant Edward (“Ned”) Weaver...more

High Court Willing to Set Aside Arbitral Awards on Public Policy Grounds

by Latham & Watkins LLP on

On 6 June 2017, the High Court held that there was sufficient evidence that an award of over US$500 million in damages against the Republic of Kazakhstan may be tainted by fraud and that this should be examined at trial...more

The Same Old Wrongdoer Blues: Creative Fraud Leaves Employer Holding the Bag for Fraud on its Account

by Bryan Cave on

Articles 3 and 4 of the UCC provide a roadmap for addressing how to allocate liability for the various mistakes, embezzlements and forgeries that have followed the payments system since its invention several centuries ago....more

FTC enforcement under new leadership to focus on consumer harm, fraud

by Ballard Spahr LLP on

Based on a Law360 article reporting on an interview with Thomas Paul, the Acting Director of the FTC Bureau of Consumer Protection, it appears that under its new leadership, the FTC will take a less aggressive approach to...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Fed’s Open Markets Committee meets today, and despite relatively robust economic numbers of late, the lack of oped-for inflation (among other things) is likely to keep the Fed from moving on interest rates again at this...more

White Collar Watch (July 2017 • Vol 1, Issue 2)

by Blank Rome LLP on

Welcome to the summer edition of Blank Rome’s White Collar Watch. In a world that seems to bring new challenges daily—such as the global cybersecurity attacks that were launched in late June—this newsletter is designed to...more

Court Holds Crime Policy Covers Business Compromise Email Loss

The “business compromise email” is what the FBI calls the “$5 billion scam,” but apparently an insurance company did not agree with an insured company that they had been the victim of a crime....more

Escobar case limits False Claims Act liability for providers

by Thompson Coburn LLP on

Health care providers, as government contractors, must make certain representations of fact when submitting claims for government program reimbursement, such as Medicare. Sometimes through no fault of the contractor, such...more

US Attorney’s Office in Chicago Announces Creation of Health Care Fraud Unit

by Morgan Lewis on

Acting US Attorney Joel Levin says the new dedicated unit aims to bring “even greater focus, efficiency, and impact to our efforts in this important area.”...more

Disclosure in arbitration: paint the full picture not a vignette - Misleading an arbitrator by omitting key evidence can amount to...

by Dentons on

It is relatively hard to establish successful grounds for appealing an arbitration award – and particularly unusual where the appeal is based on the fraudulent conduct of one of the parties. The decision in Celtic Bioenergy...more

Second Circuit Hands Government a Major Setback in LIBOR Fraud Case

by Bryan Cave on

On July 19, 2017, the United States Court of Appeals for the Second Circuit issued a decision that could impact prosecutions of corporate employees that result from multi-jurisdictional investigations, such as those involving...more

Study highlights prevalence of counterfeit and fraudulent goods online

by Thompson Coburn LLP on

Beneath the partisan rhetoric over “fake news” lies an important reality: Fraudulent practices thrive online — not just in news, but also in offerings of goods and services. Fake online stories, like the PizzaGate story,...more

Eighth Circuit Affirms Order Compelling Arbitration, Rejecting Contract Defenses Of Unconscionability And Lack Of Consideration

by Carlton Fields on

The Eighth Circuit affirmed an order compelling arbitration in a case filed by a volunteer concession worker against an operator of concessions at a sports stadium in St. Louis. The concession worker had volunteered to work...more

Ninth Circuit Clarifies Tribal Arm Sovereign Immunity Factors

by Stinson Leonard Street on

The Ninth Circuit, in U.S. ex rel. Fawn Cain et al. v. Salish Kootenai College Inc. et al., recently reversed a lower court's dismissal of a False Claims Act lawsuit by former Salish Kootenai College employees. The False...more

What To Look For In Strong Computer Fraud & Social Engineering Insurance

by GB&A Insurance on

Cyber security has been the talk of the town for quite a while now. Organizations today flooded with statistics and mentions of the importance of proper security measures and cyber liability programs. Some companies...more

Amounts Billed Do Not Indicate Fair Market Value In FCA Case

by Reed Smith on

Our day job has been keeping us busy, so busy with depositions, motions, delayed flights, and assorted drama that we have not posted in more than a month. After such a long layoff, we had hoped to return with a vengeance, a...more

The False Claims Act: Why It Is Relevant To All Manufacturers

The False Claims Act (FCA) is a major civil enforcement tool used by the federal government to redress fraud causing monetary loss to the government. In the 2016 fiscal year, the federal government recovered over $4.7...more

An Oil Patch Morality Play – Part 1

by Gray Reed & McGraw on

You are selling properties. The buyer thinks you own the deep rights but you know your long-time partner owns them. You attend the closing. You don’t tell the buyer that he’s got the ownership wrong. You are protected by a...more

Moonlight Fire Case: Ninth Circuit Denies Relief to Defendants Under FRCP 60 in U.S. v. Sierra Pacific Industries

On July 13, the U.S. Court of Appeals for the Ninth Circuit decided the case of United States v. Sierra Pacific Industries, et al. This is referred to as the “Moonlight Fire” case. The Ninth Circuit framed the issues...more

Commercial Division Rules that U.S. Treasury Secretary’s Access to a Company’s Detailed Financial Information in His Role as a...

Members of a company’s board who are also investors in the company often have access to detailed information about the company’s finances and its lending facilities. But what happens when an investor-board member could,...more

Texas Data Thieves Sentenced To Prison For $1.8 Million Fraud Scheme

by King & Spalding on

On June 30, 2017, the U.S. Attorney’s Office for the Southern District of Texas announced the sentencing of two men convicted of conspiring to claim up to $1.8 million in fraudulent income tax refunds from the Internal...more

Delaware Law Updates - Delaware Court Of Chancery Upholds Continuous Ownership Rule In Dismissing Derivative Claims Of...

by McCarter & English, LLP on

In re Massey Energy Co. Deriv. & Class Action Litig., C.A. No. 5430-CB (Del. Ch. May 4, 2017), Bouchard, C. – The Delaware Court of Chancery granted the defendants’ motion to dismiss the complaint based on the continuous...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The DOL went to bat for its controversial fiduciary rule in a 5th Circuit briefing this week, but it agreed to drop a prohibition on class-action waivers that was further ruffling feathers....more

Can’t Say “I Ain’t Mad At Cha” for Copying Me

by Knobbe Martens on

On June 1, 2017, noted music and fashion photographer Danny Clinch filed suit in the Southern District of New York in connection with the use of two photographs of famed rapper Tupac Shukar (“Tupac”) on t-shirts. The...more

With Ample Evidence of Bad Faith, Court Sanctions Defendant for Failure to Produce Documents: eDiscovery Case Law

by CloudNine on

In CrossFit, Inc. v. Nat’l Strength and Conditioning Assn., No. 14cv1191 JLS (KSC) (S.D. Cal. May 26, 2017), California District Judge Janis L. Sammartino granted the plaintiff’s motion for several issue, evidentiary, and...more

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Cybersecurity

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