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Doing Business in Iraq & Afghanistan
Guest Blogging – Professor Christopher W. Behan writes: In Catch-22, Milo Minderbender started a successful enterprise, the Syndicate, that accomplished extraordinary feats of logistical and financial legerdemain: the Syndicate bought eggs for seven cents apiece and sold them at a profit for five cents apiece, used American military assets to transfer goods and products throughout…
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Is the Government Going Soft in the Lerach Sentencing
It isn’t every day that federal prosecutors point to the collateral consequences of a white collar defendant’s guilty plea as a reason to impose a lighter sentence, but that seems to be what happened in the recommended sentence for leading plaintiffs lawyer William Lerach. The government’s sentencing memorandum, available below, tries to walk a fine…
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Yet Another Difference With the French
The Wall Street Jrl (here) points out yet another difference between the French and the United States when discussing the support the CEO received from the board of directors at Societe Generale. Prior differences were discussed here and here. In the United States, the board might be very reluctant to back a company head or…
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Proposed Legislation on Deferred Prosecution Agreements
One need only look at Carrie Johnson’s Washington Post article of today to realize the importance of deferred prosecution agreements and the controversy on the appointment of monitors. The article focuses on how Attorney General Mukasey, prior to his approval as AG, had been a finalist for such an appointment. In the background is legislation…
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Wesley Snipes Trial: Rolling the Dice
The Wesley Snipes tax trial is moving very quickly as the defense decided to rest without calling any witnesses (see here and here). The celebrities mentioned earlier did not appear on the witness stand. The pros and cons of offering no evidence, and Snipes not testifying, are discussed here. And although a jury is clearly…
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Comverse Comes Clean on Kobi, and He Countclaims for $72 Million
Comverse Technology issued the final report (here) on its internal investigation of options backdating and earnings manipulation, blaming the misconduct squarely on its founder and former CEO, Kobi Alexander, and other senior executives. In 2006, Alexander fled — or chose to relocate — to Namibia shortly before his indictment in the Eastern District of New…
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Sigue Enters Deferred Prosecution Agreement
As anticipated here, the DOJ has announced in a press release that "Sigue Corporation and Sigue, LLC (“Sigue”), San Fernando, California-based money service businesses, entered into a deferred prosecution agreement on charges of failing to maintain an effective anti-money laundering program and will forfeit $15 million to the U.S. government." In addition the "Financial Crimes…
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The French Do It Differently
The media has been covering the French financial trader who is accused of trades resulting in significant losses. Co-blogger Peter Henning points out some contrasts with the U.S. system (see here). Here are more to consider: What is fascinating is that the focus of the blame is not always on the individual accused of wrongdoing. …
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Political Liabilities
A front page political candidate can be just one of the many feeling the collateral consequences of a criminal indictment, or in this case a bond revocation. Presidential hopeful Barack Obama is feeling the sting of being associated with someone accused of criminal conduct. The NYTimes headline is One Time Obama Donor is Ordered Jailed;…
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Amici
Professors Doug Berman and Mark Osler have been blogging on law profs writing amici briefs, with discussion of the pros, cons, and the experience it can offer (see here). But the Ohio State Criminal L.J. has a new fora for amici views (here), that debuts with a cast of incredible authors writing on the topic…
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