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The SEC Starts Winding Down the Options Backdating Investigations
The flood of options backdating investigations seems to be receding, with the SEC closing cases without filing civil charges. An article in The Recorder (on Law.com here) reports that the investigation of VeriSign has concluded without any further action. The company’s 8-K (here) states, "The staff of the Securities and Exchange Commission (“SEC”) has formally…
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Siemens Bribery Saga Just Keeps Growing
The continuing investigation of overseas bribery by industrial giant Siemens A.G. seems to bring to light even more suspect payments throughout the world, with the total now pegged at nearly $2 billion in questionable transactions. The amounts involved are staggering compared to other foreign bribery investigations, which are often in the hudreds of thousands of…
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The Indictment of Barry Bonds
Homerun record holder and erstwhile San Francisco Giant Barry Bonds was indicted on four counts of perjury — technically false declarations under 18 U.S.C. Sec. 1623 — and one count of obstruction of justice arising from his testimony before a federal grand jury on December 4, 2003. The testimony was part of the investigation of…
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Convictions of Tyco’s Kozlowski and Swartz Upheld
The convictions of Tyco’s former CEO Dennis Kozlowski and CFO Mark Swartz on grand larceny charges were upheld by the New York Supreme Court, Appellate Decision. The court rejected the claim of the defendants that they were entitled to the payments they received from the company that the government accused them of effectively stealing by…
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Gonzales Gets a Legal Defense Fund
The first thing to do when your conduct is the subject of a government investigation is to hire counsel to advise you, and that’s what former Attorney General Alberto Gonzales did shortly after leaving office in September. As discussed in an earlier post (here), Gonzales retained former Deputy Attorney General George Terwilliger in connection with…
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Krongard Recuses Himself Again
State Department Inspector General Howard "Cookie" Krongard has recused himself from a second investigation by his office. After withdrawing from any investigations of security company Blackwater Worldwide’s conduct in Iraq due to his brother’s connections to the company, Krongard announced that he is also recusing himself from the investigation of allegations of corruption, fraud, and…
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Bonds Indicted
KTVU.com has a story with a headline of, "Bonds Indicted By BALCO Federal Grand Jury." Press reports say the charges are perjury and obstruction of justice. (Wall Street Jrl (AP) here, CNN here) More to follow. (esp)
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Forfeiture Case Against Lay’s Assets Moves Forward
The government’s civil asset forfeiture complaint against assets owned by the late Enron CEO Ken Lay moved a small step forward when U.S. District Judge Ewing Werlein denied a Rule 12(b)(6) motion to dismiss filed by Linda Lay, the administrator of Lay’s estate. The case — with the wonderful caption used in asset forfeiture cases…
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What Buzzy Told Cookie
State Department Inspector General Howard "Cookie" Krongard appeared before the House Oversight and Government Reform Committee looking into his conduct investigating fraud and abuse in Iraq contracting, and his oversight of security contractor Blackwater Worldwide. At the outset, Committee Chairman Henry Waxman dropped the news that Cookie Krongard’s brother, A.B. "Buzzy" Krongard, was invited by…
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Reforming the Department of Justice
Two bi-partisan organizations are calling on the Department of Justice to renew its dedication to the fair administration of justice without the taint of any political considerations affecting its prosecutorial decisions, hiring, and legislative efforts. The Constitution Project recently issued a draft document outlining "Principles for Assuring Legitimacy to the Crucial Decisions of the Department…
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