Fraud

FinCEN: Accountant and Elder Abuse

by Jonathan Foxx on 5/17/2013

We have been keeping track of FinCEN's SAR Activity Review – Trends, Tips & Issues virtually from its inception. In its just issued May 2013 report, FinCEN provides new information regarding two areas of importance: 1)...more

First Circuit Permits Insurer to Retain Policy Premiums Despite Rescission

by Aaron Mandel | Sedgwick LLP on 5/16/2013

Courts often require insurers to return premiums (or at least offer to return them) when rescinding an insurance policy. Some states may even require it under statute. The reason is that rescission is an equitable remedy...more

New Justice Department's FIRREA Cases Against Banks: Holding The Victim Responsible

by Robert J. Anello | Morvillo Abramowitz Grand Iason & Anello P.C.... on 5/16/2013

The government’s ever-evolving response to the United States financial crisis has come full circle, as civil Justice Department Attorneys seek to rely on legislation enacted to protect financial institutions from fraud to sue...more

District Court Denies Countrywide’s Motion to Dismiss AIG Suit

by Orrick - Structured Finance Group on 5/15/2013

On May 6, Judge Mariana Pfaelzer of the United States District Court for the Central District of California allowed American International Group, Inc. (AIG) to proceed with several of its claims against Bank of America and...more

MoFo New York Tax Insights - Volume 4, Issue 5 - May 2013

by Open Weaver Banks, Hollis L. Hyans, Kara M. Kraman, Irwin M. Slomka | Morrison & Foerster - State + Local Tax... on 5/14/2013

In This Issue: New York Enacts Significant Changes to Related Member Royalty Add-Back Law; Nuclear Power Plant That Produces Steam and Water to Generate Electricity Not Eligible for Investment Tax Credit; Appellate...more

Unprecedented FCPA Wake-Up Call for U.S. Broker-Dealers and Foreign Banks: Has the Perfect FCPA Storm Finally Arrived for U.S....

by John Goselin, Mauro Wolfe | Duane Morris LLP on 5/14/2013

On May 7, 2013, the U.S. Attorney's Office for the Southern District of New York (SDNY) unsealed extraordinary criminal charges against two registered representatives of a U.S. broker-dealer and a high-level Venezuelan...more

Nortel Executives are Acquitted of Fraud: A Comment on the Recent Decision in R. v. Dunn

by Joshua S. Koziebrocki, Jason Squire | Lerners LLP on 5/14/2013

On January 14, 2013, three former Nortel executives were acquitted on two counts of fraud. The Crown alleged that the accused, Nortel’s former directing minds, had manipulated Nortel’s financial statements during a time that...more

Short Wins - Missing Evidence, Medicare Fraud, And How Normal People React To Federal Prosecutions

by Matthew G. Kaiser | The Kaiser Law Firm PLLC on 5/14/2013

There was only one published criminal case in the federal circuits last week where the defendant won. It's a good case on jury instructions for missing evidence, and the short write up is below....more

PODs Beware: OIG Releases Special Fraud Alert

by Matthew Murer | Polsinelli on 5/10/2013

The Office of the Inspector General (OIG) released a Special Fraud Alert on March 26, 2013 warning that physician-owned distributorships (PODs) are "inherently suspect" under the Anti-Kickback Statute (AKS). Generally...more

Think the Government’s Claim Against You Is Time-Barred? Not So Fast!

by Joshua Sherman, Claude Tusk | Dechert LLP on 5/9/2013

When a company understands that the United States Government may have a claim against it, the company’s directors and officers are usually very aware of the applicable statute of limitations and the passage of time. When the...more

PCAOB, Auditors And Executive Compensation

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 5/9/2013

The Public Company Accounting Oversight Board, or PCAOB, has reproposed a new auditing standard, Related Parties, and certain other amendments to its standards. Overall, the reproposal is directed at detecting material...more

Protecting Privacy or Enabling Fraud? Employee Social Media Password Protection Laws May Clash with FINRA Rules

by Jessica Goldenberg | Proskauer - Privacy & Data Security on 5/9/2013

As a growing number of states pass legislation which will protect individuals’ social media accounts from employer scrutiny, they have encountered a surprising adversary – FINRA and other securities regulators....more

Appeals Court Set to Consider Key Sentencing Issue on Profits Derived From Fraud

by Jeff Ifrah on 5/8/2013

The U.S. Court of Appeals for the 3rd Circuit is currently considering a sentencing issue of great significance in cases in which a number of individuals work together to bring about a financial fraud. The question posed is...more

Healthcare Update, No. 2, May 2013: Facebook Foils FMLA Faker

by Karen Luchka | Fisher & Phillips LLP on 5/8/2013

The legitimate and beneficial purposes of the Family and Medical Leave Act (FMLA) are undeniable. The law provides employees who have a serious health condition, are caring for a family member with a serious health condition,...more

CMS Proposes Increased Rewards for Reporting Fraud and Abuse

by Ameena Ashfaq, B. Scott McBride | BakerHostetler on 5/7/2013

The Centers for Medicare and Medicaid Services (CMS) recently published a proposed rule modifying certain provisions in their Incentive Reward Program (IRP) to sweeten the incentives for reporting sanctionable conduct....more

Dismissal for Fraud on the Court Not Available to Resolve Jury Questions – Herman v. Silver

by Jason H. Baruch | Trenam Kemker on 5/7/2013

In this medical malpractice case, a husband sued after his wife died allegedly from kidney failure after the defendant doctor performed surgery. At the trial, the husband testified about various issues, including his wife’s...more

Commerce Declares No "Free Pass" To Commit Fraud In Trade Cases

by King & Spalding on 5/7/2013

Trade remedies provide much needed relief to domestic industries battered by unfairly traded imports. But their effectiveness can be gravely undermined when exporters resort to deceit and outright fraud to skirt around...more

First Circuit Vacates Denial Of Class Certification In Opinion Concerning Pfizer’s Off-Label Marketing Of Neurontin

by Jennifer M. McPheeters | Carlton Fields on 5/7/2013

In Harden Manufacturing Co. v. Pfizer, Inc., 712 F.3d 60 (1st Cir. 2013), one of three cases addressing Pfizer’s off-label marketing of the anticonvulsant drug, Neurontin, the First Circuit vacated the district court’s denial...more

Federal District Court Holds Financial Institution’s Fraud On Itself Triggers Potential FIRREA Liability

by BuckleySandler LLP on 5/6/2013

On April 24, the U.S. District Court for the Southern District of New York held that a federally insured financial institution may be prosecuted under the Financial Institutions Reform, Recovery and Enforcement Act of 1989...more

Prescription Drug Abuse in New York

by Raiser & Kenniff, PC on 5/3/2013

In a June 2012 raid, federal and state law enforcement in New York and Long Island arrested 98 people on charges of drug trafficking, prescription drug abuse and other charges. The defendants included two doctors and a nurse...more

Trade & Manufacturing Alert - May 2013

by King & Spalding on 5/3/2013

In This Issue: - Commerce Declares No "Free Pass" To Commit Fraud In Trade Cases - ITC Investigates Economic Impact Of Proposed Modifications To NAFTA Rules Of Origin - Global Manufacturers, Encouraged By...more

NFL Concussion Lawsuits in Philadelphia

by The Rothenberg Law Firm LLP on 5/2/2013

Earlier this month, a federal court in Philadelphia heard arguments about concussions in the National Football League (NFL). More than 4,100 plaintiffs, who are part of 222 consolidated lawsuits, are at the beginning of the...more

Debt Relief and Counseling Scams

by Jeff Field | Jeff Field & Associates on 5/2/2013

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 instituted a credit counseling requirement for debtors filing for bankruptcy protection. Credit counseling agencies sprang up quickly on the heels of this...more

Immigration Alert: April 2013

by Patrick Brady, Robert Groban, Jang Hyuk Im, Greta Ravitsky | Epstein Becker & Green, P.C. on 5/2/2013

In This Issue: Comprehensive Immigration Reform Debate Begins! USCIS Reports That H-1B Cap Is Reached in First Week; New Form I-9 Becomes Effective on May 7, 2013; CBP Announces Form I-94 Automation; DOS Permits Access to...more

Foreclosure Scams Rampant in Florida

by Aaron Kase | Lawyers.com on 5/1/2013

A Florida man was recently sentenced to 26 years in prison for foreclosure and short sale fraud. John Lebron, 33, was convicted last week of setting up a complex scheme to buy and sell foreclosed houses, make money on each...more

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