News & Analysis as of

Plea Agreements

Second Circuit Upholds Prosecutorial Discretion in Deferred Prosecution Agreements

On July 12, 2017, the U.S. Court of Appeals for the Second Circuit ruled in United States v. HSBC Bank USA, N.A. that a federal district court does not have the authority to supervise the implementation of a deferred...more

IRS and States Crack Down on POS Systems: Zapper Software

by Bowditch & Dewey on

A good point of sale (“POS”) system is critical for any business engaged in sales to the public and having one in place goes a long way to ensuring that revenue and profits are being reported properly to federal, state and...more

Circumventing Discretion: Seth Williams’de Facto (C)Plea

On June 28, 2017, then Philadelphia District Attorney R. Seth Williams faced a twenty-nine count indictment with a potential term of imprisonment of at least twenty years. By 1:00 a.m. the next day, he ensured that he would...more

The Complete Saga of Former U.S. Tax Court Judge Diane L. Kroupa is Now Finally Concluded

by Garvey Schubert Barer on

As reported in my April 7, 2016, October 3, 2016 and October 27, 2016 blog posts, former U.S. Tax Court Judge Diane L. Kroupa and her then husband, Robert E. Fackler, were indicted on charges of tax fraud. Specifically, they...more

Newest criminal spoofing case features coordinated spoofing, front running

by Thompson Coburn LLP on

On Thurs., June 1, the Justice Department entered into a plea agreement with a trader named David Liew, publicly revealing the existence of the third-ever criminal spoofing case, which had been filed under seal on Jan. 3....more

Bridging the Week - June 2017

Former Newbie Bank Trader Pleads Guilty to Criminal Charges and Settles CFTC Civil Charges for No Fine for Spoofing, Attempted Manipulation and Manipulation of Gold and Silver Futures: David Liew, a former junior trader...more

"US Announces Record-Setting Penalties for Violations of Export Controls and Economic Sanctions"

On March 7, 2017, the United States announced that China’s Zhongxing Telecommunications Equipment Corporation and ZTE Kangxun Telecommunications Ltd. and their respective affiliates (collectively, ZTE) had agreed to a record...more

DOJ Issues New Guidance on the Evaluation of Corporate Compliance Programs in Federal Fraud Investigations

On February 8th, the U.S. Department of Justice (DOJ) quietly issued new guidance on how the agency evaluates corporate compliance programs during fraud investigations. The guidance, published on the agency’s website as the...more

Court Vacates Term of Supervised Release

In a short summary order, the Court (Winter, Jacobs, Cabranes) vacated a term of supervised release because the district court had improperly calculated the advisory Guidelines range. Defendant Raddy Breton pleaded guilty to...more

Teva FCPA Enforcement Action-Part I

by Thomas Fox on

Just when you were thinking things could not get any bigger after the Odebrecht/Braskem Foreign Corrupt Practices Act (FCPA) enforcement action, the Department of Justice (DOJ) and Securities and Exchange Commission (SEC)...more

DOJ, SEC, Foreign Authorities Settle FCPA Claims with Brazilian Firms For $3.5 Billion

by Dorsey & Whitney LLP on

Braskem S.A., a Sao Paulo based producer of petrochemicals and thermoplastic product whose ADRs are traded on the NYSE, and its controlling shareholder, Odebrecht S.A., a privately held Brazilian international construction...more

Former Tax Court Judge Kroupa Is Back in the News

by Garvey Schubert Barer on

As reported in my April 2016 blog post, former U.S. Tax Court judge Diane Kroupa and her husband, Robert E. Fackler, were indicted on charges of conspiracy to defraud the United States, tax evasion, making and subscribing a...more

Heat Rises on Indicted Former Tax Court Judge Diane Kroupa as Husband-Codefendant Pleads Guilty

by BakerHostetler on

On September 23, 2016, Robert Fackler, the husband and now co-defendant of former Tax Court Judge Diane Kroupa, pleaded guilty to corruptly impeding the IRS, a felony that carries a maximum three-year prison sentence. It is...more

The Risk of a Cooperating Witness Left Out in the Cold

by Michael Volkov on

Last week, the Justice Department reported a guilty plea in the VW emissions scandal prosecution. By this one announcement, DOJ signaled that it is planning to build a bigger case against VW. Ironically, the Justice...more

SBM Offshore N.V. signs five party $340M leniency agreement to resolve Petrobras bribery allegations in Brazil

by Morrison & Foerster LLP on

SBM Offshore N.V. has reached a $340M settlement with both criminal and administrative prosecutors in Brazil to resolve allegations of bribery relating to the Petrobras scandal, the first deal of its kind in Brazil and a...more

"Cross-Border Investigations Update - June 2016"

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a look at recent cases and enforcement trends, including proposed amendments to China’s commercial bribery law, the use in U.S. courts of compelled...more

Federal Jury Acquits Former Warner Chilcott President

by Ropes & Gray LLP on

On June 17, 2016, a federal jury in the District of Massachusetts acquitted Carl Reichel, the former president of specialty pharmaceutical manufacturer Warner Chilcott, on a single count of conspiracy to violate the federal...more

Massachusetts Case First Criminal Prosecution for Violating FERC’s Anti-Manipulation Rule

On March 30, 2016, the United States Attorney’s Office for the District of Massachusetts (“USAO”) filed an Information charging Power Plant Management Services LLC (“PPMS”) with felonies of conspiring to violate and violating...more

The Appellate Rules Trump Statutory Jurisdiction in State v. Biddix

by Ellis & Winters LLP on

The jurisdiction of the North Carolina Court of Appeals is determined by statute. See N.C. Const. art. IV, § 12(2). But the practice and procedure of appellate jurisdiction is determined by the North Carolina Rules of...more

Yet Another Revision of the Justice Department’s Requirements for Corporations to Obtain Cooperation Credit in Criminal...

by Fish & Richardson on

On September 9, 2015, Justice Department Deputy Attorney General Sally Q. Yates issued a memorandum titled “Individual Accountability for Corporate Wrongdoing.” The “Yates Memo,” as it has become known, outlined six specific...more

Lacey Act Lessons from the Lumber Liquidators $13 Million Settlement: Has the Definition of “Due Care” Been Expanded?

On October 7, 2015, Lumber Liquidators agreed to plead guilty to five criminal charges, including one felony, stemming from the purchase and import of certain wood products through three separate Chinese suppliers. The plea...more

Scandal Serve as a Reminder of the Importance of Morals Clauses

by Kelley Drye & Warren LLP on

This week, long-time Subway spokesperson Jared Fogle reached a plea agreement on charges of child pornography and having sex with minors.? ?Although the sandwich shop noted that it no longer has a relationship with Fogle,...more

New DOJ Counsel to Focus on Corporate Compliance

by Morgan Lewis on

The decision highlights the US government’s focus on effective compliance programs. The US Department of Justice (DOJ) is creating a new compliance counsel position in the Criminal Division to assess the effectiveness of...more

The War of 1812 and the IAP Worldwide Services Non-Prosecution Agreement

by Thomas Fox on

On this day, 203 years ago, President James Madison signed a Declaration of War against Great Britain inaugurating the War of 1812. The cause of the war was multi-faceted; the formal reason given was the British impressment...more

They Grow Up So Fast: Alstom and the UK Bribery Act at Five Years

In April 2015, the UK Bribery Act (UKBA) celebrated its fifth birthday. In the same month, the Serious Fraud Office brought a third round of corruption charges under the UKBA in the Alstom case. Those allegations, brought...more

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