Wire Fraud

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False Foreign Gift Claims and Wire Fraud

A scheme that some dual national taxpayers have used involves claiming exemption from foreign jurisdiction taxation because they are U.S. taxpayers and then not reporting the offshore account or its income as required by U.S....more

When “Minor” Export Violations Can Become Federal Crimes

The following article was written by Stephen Wagner for the Export Compliance Training Institute. Mr. Wagner is a faculty member for the Institute,and frequently lectures and writes on export compliance and enforcement...more

Bank Customer – Not the Bank – Liable for Fraudulent Wire Transfer

Recent security breaches have focused attention on the allocation of risk associated with fraudulent payments. The recent U.S. 8th Circuit Court of Appeals decision in Choice Escrow & Land Title, LLC v. BancorpSouth Bank...more

Eleventh Circuit Upholds Convictions in “Pump-and-Dump” Stock Fraud Scheme

The US Court of Appeals for the Eleventh Circuit recently upheld convictions for defendants who engaged in an illegal pump-and-dump stock manipulation scheme. Defendants, who participated with seven others in a conspiracy to...more

White Collar Criminal Defense Update: Third Circuit Court of Appeals Discusses “Willful Blindness” Jury Instruction and Burden...

On April 30, 2014, the Philadelphia based U.S. Court of Appeals for the Third Circuit issued its precedential opinion in United States v. Tai, ___ F.3d ___, 2014 U.S. App. LEXIS 8129 (3d Cir. April 30, 2014), here. A copy of...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

Wells Fargo Employee Admits Role in $40.8 Million Straw Buyer Scheme

Last Friday, a former Wells Fargo branch manager, sales manager and loan officer, Robert Serao, pled guilty to conspiracy to commit wire fraud. The charge stems from Serao’s involvement in a $40.8 million mortgage fraud...more

Deportation Coming Up in Season 6 of “The Real Housewives of New Jersey”: Real Immigration Problems for Celebs Teresa and Giuseppe...

On March 4, 2013, two of the stars of the Bravo Network television show, “The Real Housewives of New Jersey,” pleaded guilty to several counts of fraud and other charges in a federal court in Newark, New Jersey. Teresa and...more

How Chadbourne & Parke, LLC v. Troice Threatens The Defense Of The Guilty And The Innocent

The U.S. Supreme Court’s recent decision in Chadbourne & Parke, LLC v. Troice, 571 U.S. ___ (2014) arose out of the a multibillion dollar Ponzi scheme perpetrated by Allen Stanford. The scheme involved the sale to investors...more

Can SOX Go Overseas? The Debate Continues

The continuing controversy over whether retaliation claims under the Sarbanes-Oxley Act ("SOX") cover activities outside the United States continues to play out in the courts and administrative bodies. The two leading cases...more

'Honest Services' Statute

Former Virginia Governor Bob McDonnell may not have violated any Virginia statutes, yet he and his wife both face criminal prosecution under the federal “Honest Services” statute On Tuesday, January 21, 2014, former...more

NHL Players Defrauded in Series of Investment Schemes

National Hockey League Players were the primary victims of a series of fraudulent investment schemes orchestrated by financial adviser Phillip Kenner and former professional race car driver Tommy Hormovitis. Collectively, the...more

Short Wins - The "I'm Not Dead Edition"

1. United States v. Dominic Pelligrino, Second Circuit: Appellant Pellegrino was charged with having violated New York's narcotics laws and pleaded guilty in state court. Although the circuit court found his arguments...more

Was This Sentence Quite Excessive for a Bizarre Fraud Scheme?

A $3 billion fraud scheme, more farcical than dangerous and in any case doomed to fail, led to 20-year sentences in federal prison for all four conspirators. The U.S. Court of Appeals for the 2nd Circuit, however, vacated the...more

Criminal Forfeiture and SAC Capital

As you probably know, federal prosecutors indicted SAC Capital Advisors LP and a number of related entities last Thursday on wire fraud and securities fraud charges connected to its alleged insider trading over the last five...more

D.C. Circuit Clarifies Key Issue in Wake of High Court’s ‘Honest Services’ Decision

A recent D.C. Circuit Court of Appeals decision narrows the ability of the government to revisit uncharged crimes against a person whose plea has been vacated due to a change in the law....more

Downloading Into Prosecution

The federal government has been quite aggressive in prosecuting Internet downloaders under the Computer Fraud and Abuse Act, so aggressive that one downloader, Aaron Swartz, committed suicide in despair....more

Tenth Circuit Broadens Whistleblower Protection Under SOX

In a recent decision, the United States Court of Appeals for the Tenth Circuit broadened the types of claims that may be recognized under the anti-retaliation provisions of the Sarbanes-Oxley Act. Lockheed Martin Corp. v....more

Why Go To The Movies?

Summer has arrived. The Hollywood blockbusters are here. New animated features hit the big screens this week. Superman is flying once more. Sure, if the movies are your cup of tea, then summer is your annual thirst...more

DOJ Files First Criminal Action On CFPB Referral, CFPB Files Parallel Civil Suit

On May 7, the U.S. Attorney for the Southern District of New York announced mail and wire fraud charges against a debt settlement firm, its owner, and three of its employees. ...more

Court Upholds Executive’s Conviction Stemming from Off-Label Drug Promotion

The U.S. Court of Appeals for the Ninth Circuit has upheld the wire fraud and misbranding convictions and sentence of InterMune Inc. founder W. Scott Harkonen. United States v. Harkonen, No. 11-10209 (9th Cir. March 4, 2013)....more

Appeals Court Rejects Drug Company Executive’s First Amendment Defense and Upholds Wire Fraud Conviction

A three-judge panel of the U.S. Court of Appeals for the Ninth Circuit, in a recent unpublished opinion, upheld the conviction and sentencing of former InterMune, Inc. executive Scott Harkonen for wire fraud. In 2009, a jury...more

February 2013: Libor Litigation Update

UBS and Barclays Acknowledge Making False Libor Submissions. Investigations into misconduct at UBS and Barclays have revealed pervasive corruption of the London Interbank Offered Rate (“Libor”), which provides a benchmark for...more

DOJ Announces Criminal Charges And Penalties For LIBOR Manipulation, Regulators Announce Parallel Civil Enforcement Actions

On February 6, U.S. and U.K. authorities announced that a Japanese financial institution and its British bank parent company agreed to pay roughly $612 million to resolve criminal and civil investigations into the firms’ role...more

Ticking Time Bomb: Private LIBOR Litigation

One by one global banks are being ensnared in the LIBOR prosecution net. Late last year UBS, the Swiss banking giant, entered into a massive settlement in which it agreed to pay approximately $1.5 billion in fines and...more

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