Indictments

News & Analysis as of

Alstom Joins Santa’s Naughty List – In a Very Big Way

The North Pole for Foreign Corrupt Practices Act (FCPA) enforcement action announcements seems to have temporarily moved south for the month of December. Last week there was the final announcement of the long-standing Avon...more

Bribery Is Not a Free Speech Right, Judge Says

In late 2012, a California district attorney’s office obtained an indictment charging 18 defendants, including school board members, administrators and contractors, with conspiracy, bribery, perjury, filing false gift reports...more

Two Months After Indictment, Medicare Fraud Mastermind and Doctor Plead Guilty

Mark Morad, the man who cooked up a $56 million Medicare fraud scheme, and his accomplice doctor pled guilty yesterday in federal court in Louisiana to various health care fraud charges....more

Second Circuit Limits Insider Trading Law for Remote Tippees

Matt Levine is a big jerk. He just sits there at Bloomberg following events in finance and securities enforcement, and then writes interesting things about those events really quickly and with insight that no one else has...more

Second Circuit Court of Appeals Issues Significant Insider Trading Ruling in U.S. v. Newman

Earlier today, the Second Circuit Court of Appeals issued its most significant ruling in an insider trading case in more than a decade. That opinion is available here. The Second Circuit vacated the criminal convictions of...more

Major Reversal of Insider Trading Convictions After Trial: Second Circuit Sets High Bar for Tippee Liability

The United States Court of Appeals today reversed the convictions for insider trading of Todd Newman and Anthony Chiasson. The Court held that the government was required to prove, but did not, that the defendants knew that...more

Corporations Need to Say the Words – “Let’s Go to Trial”

Companies are reluctant to go to trial in a criminal case. Instead, they look for alternatives short of a criminal guilty plea and DOJ has a suitcase full of options that they use....more

Hospital Executive Pleads Guilty to False Meaningful Use Attestation for EHR Incentive Payments

The former CFO of Shelby Regional Medical Center, Joe White, pleaded guilty to knowingly making a false statement related to the hospital’s meaningful use of electronic health records (“EHR”). Shelby Regional had received...more

Vascular Solutions Inc. and its CEO Face Criminal Charges for Selling Unapproved Medical Devices

Last week, the Civil Division of the U.S. Department of Justice (DOJ) filed an indictment charging Vascular Solutions Inc. (VSI) and its CEO Howard Root with (1) selling medical devices without the approval of the U.S. Food...more

Vascular Solutions Indicted

The Star Tribune reports that a federal grand jury indicted Howard Root, CEO of Vascular Solutions, Inc. (VSI), on one felony count of conspiracy and eight misdemeanor charges of selling unapproved and adulterated medical...more

The Major Threat Presented by a Tiny Thumb Drive

In our modern, ever-electronic, workplace, it continues to become ever-easier for dishonest employees to help themselves to their employer’s most sensitive and valuable assets through wholesale electronic copying of...more

Former UBS Banker Trial Begins in Florida

Opening statements were heard on Tuesday and the first government witness testified yesterday in the trial of ex-UBS AG banking executive Raoul Weil. Prosecutors have sought to show him as the driving force behind the bank’s...more

Spoofing Back in the News — First Criminal Indictment for Spoofing; CFTC Settlement Lays Out Telltale Signs of Spoofing

Last week the government handed down its first criminal indictment for allegedly engaging in “spoofing” and the Commodity Futures Trading Commission settled with Eric Moncada for spoofing. Spoofing is a form of trading in...more

Bridging the Week - October 2014

NJ-Based Trader Previously Sanctioned by UK FCA, CFTC and CME Indicted in Chicago for Same Spoofing Offenses - New Jersey resident Michael Coscia, the prior manager and sole owner of Panther Energy Trading LLC, was...more

High-Speed Trader Indicted for ‘Spoofing’

A federal grand jury in Chicago recently indicted high-frequency trader Michael J. Coscia for “spoofing,” making it the first criminal case ever brought under the Dodd-Frank Act’s rules against disruptive trading practices....more

Responding to a Grand Jury Subpoena

Federal prosecutors use the grand jury, which consists of 16 to 23 jurors who operate in secrecy, to decide whether to charge someone with a serious crime. To further its investigation, the grand jury issues subpoenas—at...more

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

Manhattan District Attorney Indicts Payday Lenders

On August 12, Manhattan District Attorney (DA) Cyrus Vance, Jr. announced the indictment of twelve payday lending companies and related individuals for allegedly engaging in criminal usury by making high interest payday loans...more

Silk Road’s Ulbrecht Fails in Dismissal Bid, Court Strengthens Federal Bitcoin Enforcement

In another installment of the continuing saga surrounding the shuttering of the Silk Road online marketplace and arrest of its alleged creator and operator, Ross William Ulbricht (Ulbricht), a Southern District of New York...more

Worthless Services/Substandard Quality of Care Criminal Prosecutions May Be on the Rise

If you are an operator of a skilled nursing facility (SNF), you might have faced the reality of insufficient medical staff and how it impacts your ability to deliver quality patient care to your residents. Or, you might have...more

DOJ Charges Chinese Military Hackers with Economic Espionage

In what is the first case of its kind, the Justice Department has filed criminal charges against Chinese military officers for hacking U.S. Companies. Five Chinese military officers, all members of China’s Peoples’ Liberation...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

United States Charges China with Cyber-Espionage in Unprecedented Indictment

This morning, the U.S. Department of Justice (DOJ) announced that a grand jury in the Western District of Pennsylvania has indicted five Chinese military officials on charges of computer hacking, economic espionage, and...more

Indicted Banker May Provide Valuable Leads

The following is an excerpt from a press release issued April 30, 2014 by Department of Justice, Tax Division (DOJ) announcing the indictment of a former senior officer of the Beverly Hills branch of an Israeli bank. The...more

U.S. Brings Criminal Charges For False Sarbanes-Oxley Certifications

An indictment was recently unsealed where the United States recently brought criminal charges, for among other things, false certifications under Section 302 and 906 of the Sarbanes-Oxley Act. The allegations are of course...more

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