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

T-12 Entertainment Speaks Up in Trademark Complaint Over Use of "I Plead the 5th" Mark

On March 24, 2014, T-12 Entertainment, LLC and Kareem Hawthorne, both of Georgia (collectively, “Plaintiffs”), filed a complaint against Young Kings Enterprises, Inc., Ego Entertainment, LLC., Troy Williams, Anthony Adighibe,...more

Debt Settlement Firm Pleads Guilty In CFPB’s First Criminal Referral

On April 8 the U.S. Attorney for the Southern District of New York announced that a debt settlement company and its owner pled guilty to fraud charges, resolving the first criminal case referred to the DOJ by the CFPB. The...more

University Job Placement Rates Come Under Scrutiny

Higher education institutions face mounting pressure from prospective students, accrediting agencies and financial aid providers to disclose graduates’ job placement rates. Several recent high-profile legal battles have...more

District Court Extends Fifth Circuit’s Naquin Decision to Barge Cleaning/Repair Employee

As previously reported (regarding the Naquin decision), the Fifth Circuit recently expanded the scope of Jones Act seaman status to include a shipyard worker who spent 70% of his time working aboard vessels (usually moored to...more

Outrageous Scams in Financing: Not So Unusual After All

When fundraising, remember—everyone is trying to cheat you. Well, that’s not really true, but it’s obvious that we’d all be skeptical if a foreign “prince” is offering a start-up company several million dollars with...more

HP, Three Subsidiaries Pay $108 Million To Settle FCPA Charges

The Russian, Polish and Mexican subsidiaries of Hewlett-Packard Company resolved criminal FCPA charges with the Department of Justice while the parent corporation settled with the SEC. ZAO Hewlett-Packard A.O., or HP Russia,...more

Lifeline Database Update: NLAD Operational in All States, FCC Announces Success

The FCC’s National Lifeline Accountability Database (“NLAD”) now is operational in all states and has already had a significant impact in reducing waste, fraud, and abuse. The FCC announced today that, so far, the NLAD has...more

Rogue CFO I- Introduction

Small, privately owned corporations deal with all types of challenges: competition, government regulations, recessions, rising cost of benefits for employees —the list is long. But one area that seems to be a persistent...more

Alabama Legislative Update – Sine Die – The 2014 Legislative Session Ends

The Alabama Legislature adjourned sine die on Thursday, April 3, 2014 at 7:30 p.m. In previous years, sessions have ended just minutes before midnight on the 30th legislative day. This year was different. As soon as both...more

Fund Principal Partially Resolves Administrative Charges

A principal of an investment adviser partially settled a previously filed administrative proceeding which centers on claims that he and another Respondent improperly advised their clients to invest in off-shore funds without...more

No Silver Lining For Plaintiffs As J.P. Morgan Defeats Silver Market Manipulation Suit

History has shown that large class action cases often follow government investigations the way that the lamb followed Mary to school that day. Sometimes, however, those investigations die and Mary gets lost and brings her...more

Short Wins - The "The Victims A Person Is Convicted Of Defrauding Have To Be The Same Ones As The Ones He Was Indicted For...

Last week was a busy week in the federal circuits. There's a lot there to be interested in, especially if you have a case at the intersection of mental health issues and the law....more

Cartel Fines: Liability of Private Equity Funds

The European Commission has held Goldman Sachs jointly and severally liable for a cartel infringement committed by Prysmian, an Italian cable maker formerly owned by Goldman Sachs’ private equity arm. The decision is a stark...more

Does The First Amendment Allow Journalists To Lie To Their Subjects? U.S. Senator Accuses Documentary Film Makers Of Fraud

On April 1, 2014, West Virginia Senator Joe Manchin issued a press release accusing Adroit Films of fraud. Manchin had agreed to be interviewed by the media company for a documentary about the Upper Big Branch mine disaster,...more

Commission Holds Goldman Sachs Liable for Former Portfolio Company’s Antitrust Infringement

In its decision of 2 April 2014 in relation to the underground and submarine high voltage power cables cartel case, the European Commission (Commission) held the parent companies of the producers involved liable, on the basis...more

Do You Know What Your Hospital Board Members Are Doing?

David Chandler was appointed to serve as chairman of Tri-Lakes Medical Center (TLMC), a community hospital in Panola County, Mississippi. As chairman, Chandler set board meeting agendas, regularly dealt with the administrator...more

New York DFS Obtains Substantial Settlement In Licensing Enforcement Action

On March 31, in an enforcement action with potential implications for a range of financial service providers, the New York State Department of Financial Services (DFS) announced that an insurance holding company agreed to pay...more

Business News Digest – April 2014

In this issue: - Cybersecurity Assessments – Using the Tool Well - A SOX in the Gut: Supreme Court Vastly Expands Workplace "Whistleblower" Law - SEC to Scrutinize Never-Examined Investment...more

Business Litigation Alert: "Did They Really Say That?"

E-Mails Continue to Be the Modern "Smoking Gun" - The recent financial-collapse and bankruptcy of former mega-law firm Dewey & LeBoeuf has captivated the attention of the legal industry, but are there lessons to be...more

Credit Crunch Digest

This issue of the Credit Crunch Digest focuses on recent developments in Libor and the Foreign Exchange market litigation; Credit Suisse’s $885 million mortgage settlement with the Federal Housing Finance Agency; Irving...more

The Economic Crime Triad: Companies Facing Major Risks

FCPA practitioners can suffer from myopia – a narrow focus on FCPA risks. The FCPA does not apply to company actors who take bribes in exchange for awarding contracts to companies. That situation is commonly referred to as...more

Short Wins - The Forfeiture Order Gets Reversed Version

There were a handful of good wins in the federal circuits last week. Notably, United States v. Annabi, pushed back on a government forfeiture because the language in the indictment was inadequate. Forfeiture is a huge issue...more

Pain Doctors Walk Tightrope Between Healer And Criminal Suspect

Pain management clinics perform a vital service for patients with chronic illnesses and acute injuries. Without pain medications, some patients would be unable to work or even handle everyday tasks. In some cases, untreated...more

Back to Basic? Big Changes Could Be Coming to a Securities Class Action Near You

Earlier this month, the Supreme Court heard the highly-anticipated oral argument in Hallburton Co. v. Erica P. John Fund, Inc. Prior to the argument, there was a growing consensus that the Court was likely going to overturn...more

‘Big Short’ Case Tests the Reach of the SEC’s Administrative Forum

On March 21, Wing Chau – a subprime CDO manager who featured prominently in Michael Lewis’s best-selling book “The Big Short” – sued the SEC, claiming that the SEC violated his constitutional rights by choosing to bring its...more

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