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What Are the Drastic Ramifications of the New York State Anti-Money Laundering Actions and Penalty Enforcement?
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Polsinelli Podcast - White Collar Government Investigations in 2013
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White Collar Enforcement in 2013
Two recent white-collar cases are examples of a phenomenon that one tends to find when the defense is able to emerge victorious: a case with some core facts that simply do not fit the pattern of wrongdoing expected in the...more
While foreign bribery makes for sensational headlines, a Midwest egg company recently discovered why U.S. enforcement actions for domestic bribery have resulted in a sharp increase in corporate fines. The egg company agreed...more
Following on the heels of Japanese trading company Marubeni’s recent admission that it violated the U.S. Foreign Corrupt Practices Act, again a Japanese company is in the crosshairs of anti-corruption regulators, but this...more
Sentencing Commission Requests and Receives Comments on Price Fixing Penalty Revisions -
The U.S. Sentencing Commission is currently seeking public comments on sentencing for price fixing, bid rigging and market...more
Corporations facing federal securities suits can sometimes avoid liability by claiming that their forward-looking statements were so vague or indefinite that they could not have affected the company’s stock price and are...more
Next week, Shanghai’s No. 1 Intermediate People’s Court is scheduled to open a trial against Peter William Humphrey, a 58-year-old British national, and his wife, Yu Yingzeng, a 61-year-old American, on charges of illegally...more
An energy company, its CEO and the firm’s public relations adviser and its president were named in a fraud action by the SEC centered on false representations concerning oil reserves for a property in Columbia. The...more
On April 29, 2009, just weeks after being sworn in as the Assistant Attorney General for the Department of Justice’s Criminal Division, Lanny Breuer testified before Congress that “[t]he Administration believes Congress’s...more
The US District Court for the Northern District of Illinois denied a motion to dismiss a 16-count indictment for insider trading, finding the government adequately alleged each element of the offense....more
James Tagliaferri, the former President of TAG Virgin Islands, a registered investment adviser, was found guilty by a jury of one count of investment adviser fraud, six counts of violating the Travel Act, one count of...more
The U.S. District Court in San Francisco was busy this month sentencing defendants in two of the year’s biggest trade secrets cases.
First, on July 10, U.S. District Court Judge Jeffrey S. White sentenced Walter...more
A Southern District of New York Magistrate Judge last week approved the government’s ability to conduct searches and seizures of entire email accounts stored by third-party providers like Google, Microsoft, Yahoo! and Apple...more
For former Qualcomm Inc. Executive Vice President Jing Wang the cover-up not only failed but increased his liability. The former executive pleaded guilty this week to securities fraud based on his insider trading, money...more
Penny stock companies have been much in the news recently. They can be tough entities for law enforcement to look into given that their officers and directors are often not inclined to cooperate with government...more
Over the past few weeks I have had a chance to read How To Pay A Bribe, Thinking Like a Criminal to Thwart Bribery Schemes (2014, edited by Alexandra Wrage, Seven Wirz), and while I have enjoyed a number of the chapters,...more
While many people don’t know it, a bribery scandal in Japan in 1976 was part of the motivation for the Foreign Corrupt Practices Act (FCPA), which was signed into law on December 19, 1977. Almost exactly two decades later,...more
Although passed in 1977, the Foreign Corrupt Practices Act (FCPA) was not significantly enforced until 2005. Since then, the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have made up for the...more
Increased SEC and Justice Department prosecution is bad news for stranger-originated annuity (STOA) schemes. The SEC recently announced that enforcement actions were taken against brokers Michael A. Horowitz of California and...more
FDIC RESTRICTS BANK’S CARD BUSINESSES PENDING BSA COMPLIANCE ENHANCEMENTS -
On June 5, the FDIC and a Delaware bank entered a consent order that prohibits the bank from entering into any new relationships with...more
Welcome to the June 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month, on the anticorruption front, the U.S. Court of Appeals for the 11th Circuit defines key Foreign Corrupt...more
Fraud Index Released-Startling Findings -
A survey of more than 1,400 organizations worldwide revealed startling 4th quarter results on fraud trends for 2013. The Fraud Reporting Percentage (FRP), which measures fraud...more
The KBR decision should not be interpreted as a sign that internal investigations of regulatory compliance are privileged per se. Companies should keep the following principles in mind when conducting any internal...more
In a recent decision that provides important guidance in the developing law related to government seizure of electronic records in criminal investigations, on June 17, 2014, the United States Court of Appeals for the Second...more
White collar criminal investigations take time. Corruption investigations are no different.
Everyone expected UK Bribery enforcement to quickly increase and cause complex headaches for companies operating in the global...more
Mary Jo White, chairwoman of the U.S. Securities and Exchange Commission (SEC), and James Comey, director of the Federal Bureau of Investigation (FBI), recently discussed enforcement trends and offered advice on how companies...more
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