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The Latest on Former Alabama Governor Siegelman
Washington Post (AP) reports in a story titled Ex Ala. Gov. Wants Special Prosecutor, on the latest development in Don Siegelman’s case. The former Alabama Governor received a sentence of 88 months and was ordered to go directly to prison (see here). Serious concerns have now been raised about the testimony of one of the…
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Jury Tells Government to Stick to Tax Charges
The government was again sent the message to stick to tax charges. The brother of the former mayor of Philadelphia was acquitted of mail and wire fraud charges (See Phil. Inquirer here). After a three day deliberation, the jury found T. Milton Street Sr. (also a former state senator) guilty of three counts of failure…
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Arizona Congressman Indicted
Add Arizona Representative Rick Renzi to the list of Congressmen indicted over the past couple years. A grand jury in Tuscon, Arizona indicted the three-term Representative — who announced in August 2007 that he would not stand for re-election — on thirty-five counts of mail and wire fraud (including right of honest services), insurance fraud,…
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NatWest Three Sentenced to 37 Months and May Be Headed Back to England . . . Eventually
Three former British investment bankers for NatWest Bank who were charged for their role in helping former Enron CFO Andrew Fastow dress up the company’s balance sheet were sentenced to thirty-seven month prison terms. The so-called "NatWest Three" — David Bermingham, Giles Darby, and Gary Mulgrew — became a cause célèbre over their extradition from…
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Can Prosecutors Call Lott to Testify at the Scruggs Trial?
The latest bombshell in the prosecution of Dickie Scruggs and two co-defendants on charges related to an attempted bribe of a state judge was the revelation by federal prosecutors that they intend to call former Senator Trent Lott — Scruggs’ brother-in-law — to testify at trial about conduct that may involve a scheme to influence…
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Deferred Prosecution Agreement with Flowserve
A press release of the DOJ states that "Flowserve Corporation (Flowserve) has agreed to pay a $4 million penalty as part of an agreement with the U.S. government regarding charges brought in connection with an ongoing investigation related to the United Nations Oil for Food program." Flowserve notes the agreed upon penalty on their website…
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Société Générale Isn’t Too Hard On Itself Despite Losing $7.2 Billion
When you are the victim of a $7.2 billion fraud perpetrated by an employee, one would think that there would be a fair measure of self-criticism for not detecting the misconduct. French banking giant Société Générale issued an progress report (available below) on its internal investigation, called "Mission Green," into the losses caused by rogue…
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Is Sid in Some Trouble?
In response to the flurry of defense motions (severance, change of venue, dismissal for outrageous government conduct, bar 404(b) evidence, and suppression of evidence) from the defendants in the Scruggs corruption prosecution (see earlier post here), the government filed its responses that set forth a number of details about the case (see WSJ Law Blog…
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Collateral Consequences After a Plea
The Wall Street Jrl reports on the SEC suing the former chief at Refco. This comes on the heals of Phillip Bennett entering a plea with the government (see here). He is set to be sentenced on May 20, 2008 (see here). This recent suit emphasizes the importance of looking at white collar cases globally…
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