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ABA Second Annual Securities Fraud Institute – 23 Corporate Counsel Convictions
The opening session of the Second Annual Securities Fraud Institute provided "trends and expectations in securities fraud enforcement cases and criminal prosecutions" to a near filled large room. Moderator Tom Hanusik asked questions to Professor James Cox (Duke), Alice Fisher (DOJ), Hon. Michael G. Oxley (a father of SOX), and Linda Chatman Thomsen (SEC). The…
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Former CEO Charged With Insider Trading That Netted Over $185 Million
The former CEO of military armor supplier DHB Industries, now known as Point Blank Solutions, was arrested on a superseding indictment (available below) that charges him with insider trading involving proceeds of over $185 million from the sale of company stock in 2004. Also named as a defendant is the the former chief operating officer…
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WellCare’s Headquarters Searched
The offices of WellCare Health Plans, Inc. in Tampa were searched by federal and state agents. The company issued a terse press release (here) that states, "Today federal and state officials executed a search warrant at our Tampa headquarters. We are cooperating with the authorities. Our number one priority is making sure that our members…
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Media Privilege Bill Advances
The grand jury investigations of I. Lewis Libby and Barry Bonds involved subpoenas to reporters for their communications with sources who had been promised confidentiality. The federal courts unfailingly found that the demand for information trumped the media’s confidentiality claims, with reporters being threatened with civil contempt and jail for refusing to respond to the…
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Who’s Minding the Goya?
This one is not a white collar crime, at least not strictly, but the apparent ease with which it took place makes me wonder about how well valuable items are protected. The U.S. Attorney’s Office for the District of New Jersey announced the indictment (here) of a defendant for violating 18 U.S.C. Sec. 668 for…
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Former General Counsel Convicted of Insider Trading in His Company’s Stock
The former general counsel for Amkor Technology, Inc. was convicted on securities fraud charges related to his trading in company stock (indictment here). According to a press release (here) issued by the U.S. Attorney’s Office for the Eastern District of Pennsylvania: Heron traded Amkor securities while in possession of material, non-public information including, among other…
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Selective Prosecution Hearing
What role has politics played in DOJ activity? The House Judiciary Subcommittees on Crime, Terrorism and Homeland Security and Commercial and Administrative Law held a hearing today on "Allegations of Selective Prosecution: The Erosion of Public Confidence in Our Federal Justice System." A key focus was on the extent that politics played in department decisions.…
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Settlement with BP – Is it Forthcoming
The Wall Street Jrl is reporting a forthcoming settlement with BP that would include a guilty plea and hefty fine. For details see here. (esp)
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Selective Prosecution Hearings Today
The House Judiciary Subcommittees on Crime, Terrorism and Homeland Security and Commercial and Administrative Law will hold a hearing today on "Allegations of Selective Prosecution: The Erosion of Public Confidence in Our Federal Justice System." The hearing starts at 10:00 a.m. and the witnesses scheduled to appear are: Former Attorney General Dick Thornburgh, Former Alabama…
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The Walker Case
Harper’s Magazine has a story on the Charles Walker case. This blog discussed the trial, sentencing, and post trial. Including his conviction of 127 counts after a trial that went from 8:00 a.m. to 7:00 p.m., seven days a week, including holidays and Sundays -and yes, even worked through Memorial Day weekend and on Memorial…
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