Fraud

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

SDNY Prosecutors Score First Post-Newman Insider Trading Conviction

On August 17, 2016, jurors in a New York federal court convicted Sean Stewart on criminal charges of conspiracy, securities fraud, and tender offer fraud after more than five days of deliberation. Stewart, a former...more

What’s Happening in Delaware M&A – Summer 2016

This update provides a summary of recent Delaware caselaw and statutory developments concerning mergers and acquisitions, including new cases regarding appraisal rights, fraud claims and fiduciary duty and deal process...more

Privacy Tip #48 – Watch Your Amazon Prime Now Account for Hacked Purchases

Those of you with Amazon Prime Now accounts love the convenience of getting goods delivered to your home RIGHT NOW, well at least within hours until Amazon drones become common place....more

Religious Institutions Update: August 2016

When was the last time your organization reviewed your insurance policies? Not all policies are equal. Many religious organizations are underinsured. Most should have general liability, property, professional liability,...more

What’s In a Name? Or, the Importance of Emphasis

I.A. Khair of New Jersey ran an ambulance company called K&S Invalid Coach. Presumably, “Invalid” was pronounced IN-va-lid, with the emphasis on the first syllable. Maybe it should have been pronounced in-VAL-id, with the...more

CEO of World Trade Center contractor found guilty of fraud by misstating compliance with Port Authority’s minority- and...

Public entities at the Federal, state, and local levels set aside contracting opportunities, provide preferential price treatment, or otherwise grant favorable treatment to contractors (1) owned by veterans, women,...more

DOJ Files FCA Complaint Against Recipient of Grant Funding

The FCA began as a response to procurement fraud by military contractors during the Civil War. In the intervening years, its reach has extended and increasingly the government is using the FCA as a tool in the context of...more

LinkedIn Has Beef With Data Scraping Bots

Linkedin has filed a lawsuit to prevent unauthorized use of “bots” that register fake profiles on the social network and steal data about actual users. According to the suit, these acts constitute a breach of Linkedin’s terms...more

Structured Thoughts: News for the financial services community, Volume 7, Issue 8

Brexit and Structured Products: A Framework for Considering Disclosures - The U.K.’s recent referendum to withdraw from the European Union has affected virtually all segments of the financial industry. The structured...more

You Should Know - August 2016

IN THIS ISSUE: - Meet 2016 Winners - Take Reader Survey - Flint’s Hero Doc - 2016 Justice Served Awards: Reader Survey: Heroes Step Up to Protect the Safety, Rights of All Americans - Motivated by a...more

Tax Law Hampering Airport Improvements, Government Accountability Office Finds

Since 1970, the federal Airport and Airway Trust Fund (referred to as the Aviation Trust Fund) has been an important source of finance for airport improvements. But the fund has dwindled thanks to a 2006 law, passed to quell...more

Ninth Circuit Affirms Dismissal of Fraud-Based UCL Claims Based on Lack of Reliance

The Ninth Circuit Court of Appeals’ recent decision in Haskins v. Symantec Corp., Case No. 14-16141 (9th Cir. June 20, 2016), supports the requirement that plaintiffs must allege exposure to and reliance on specific...more

From Altamont to Airbus

What was one of the most tragic events in the history of rock and roll? High up on the list must rank the Altamont concert, held at Altamont Race Track on December 6, 1969. It was so bad that many people felt the 60s actually...more

Forgery May Not Constitute “Theft” Under an Employee Dishonesty Coverage

Ruling in favor of the insurer on a motion for summary judgment, on July 29, 2016 the Fifth Circuit Court of Appeals held that under the terms of a commercial crime policy, proof of a forgery by the insured’s employee in...more

How Data Scientists & Compliance Can Work Together Better; Keith Furst Explains [PODCAST]

Data scientist Keith Furst and Masters of Disaster® podcast host Leona Lewis discuss how data scientists and compliance can collaborate better to get compliance the data it needs. It is almost impossible to have one...more

Immigration Penalties Increase Effective August 1, 2016

The Department of Justice has issued a new rule increasing penalties for I-9 paperwork violations, unlawfully employing unauthorized workers, and unfair immigration-related employment practices. The increase was triggered by...more

Florida's Fourth DCA Confirms that a Borrower is in the Best Position to Know Their Own Financial Information

The Fourth District Court of Appeal recently affirmed its prior decision in Vidal v. Liquidation Properties, Inc., 104 So. 3d 1274 (4th DCA 2013). Wells Fargo Bank, N.A. v. Hilary A. Williamson, Case No. 4D15-285, 2016 WL...more

Court decides to ‘wait and see’ in its refusal to grant an administration order

Rowntree Ventures Ltd v Oak Property Partners Ltd [2016] EWHC 1523 (Ch) - The High Court recently re-affirmed the discretionary nature of its right to grant an administration order. In this case, the court refused to...more

ITC Section 337 Update – August 2016

DeLorme Seeks Certiorari Review Of Consent Order Penalty Based On Expired Patent — On July 13, 2016, DBN Holding, Inc. and BDN LLC (“DeLorme”) filed a petition for writ of certiorari to review a judgment of the United States...more

A State Law Wolf in Federal Common Law Clothing: The Third Circuit Rejects Insured’s Attempt to Expand Causes of Action Under the...

Courts across the country (and particularly since Super Storm Sandy in 2012) have consistently held that, in litigation involving a dispute concerning the investigation, adjustment, or payment of a flood claim under the...more

Fifth Circuit Holds that National Union Fire Insurance Company of Pittsburgh, PA’s Commercial Crime Policy Does Not Cover...

Tesoro Refining & Marketing Co. v. National Union Fire Ins. Co. of Pittsburgh, PA, 2016 U.S. App. LEXIS 13838 (5th Cir. July 29, 2016). In 2003, Tesoro Refining and Marketing Company, LLC (“Tesoro”) started selling fuel to...more

Preventing Limitation of Liability End-Runs

Owners who are dissatisfied with their contractors’ performance increasingly assert fraud-based claims in addition to breach of contract claims because fraud-based claims are not typically barred by contractual waivers and...more

California Federal Court Dismisses Inferior Complaint

Inferior vena cava filters resemble what we used to call “daddy long legs.” You know what we mean: the spider-like creatures with small centers, from which long, bent legs emanate in all directions. That is sort of what IVC...more

One of the Largest Member Clubs in Singapore Is Liquidated

California Fitness’s closure has left many consumers who have purchased prepaid packages without any remedies. On 20 July, California Fitness, which was once fronted by action movie star Jackie Chan, announced that it...more

Your daily dose of financial news - The Brief – 7.28.16

A pair of whistleblowers is seeking discovery-related sanctions against Wells Fargo for allegedly concealing “crucial evidence” for their False Claims Act claims over fees added to government-backed mortgages....more

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