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Eleven New Jersey Officials Arrested in Corruption Sting
Shades of Abscam, albeit on the much more local scale. The U.S. Attorney’s Office for the District of New Jersey announced that ten elected officials and the chief of staff to the president of the Newark City Council were arrested for taking bribes from an insurance brokerage company that was an FBI front. According to…
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Representing Iraq Contractors Looks Like the Next Source of Lawyer Full Employment
As the investigations of corporate options backdating wind down, the next source of cases for the white collar crime departments at major firms is appearing on the horizon: investigations of companies that received contracts as part of the Iraq rebuilding effort. As discussed in an earlier post (here), the Department of Defense Inspector General will…
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Couple Plead Guilty to Insider Trading Charges
A former vice president at Morgan Stanley and her husband, a former analyst at a hedge fund, pleaded guilty to conspiracy and insider trading charges. The defendants had been charged earlier this year with making over $600,000 on trading in three companies based on tips from the wife to the husband, who bought the securities…
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50 Months for Tax Evasion
A former Wall Street investment banker received a 50-month prison term after his conviction on tax evasion charges related to the use of tax shelters back in the 1970s and 1980s. The tax evasion occurred from 1977-1985, and the case involved the defendant’s continuing efforts to avoid paying taxes after a determination of the amount…
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SEC Insider Trading Investigation Goes International
The SEC’s insider trading investigation of questionable options purchases in Placer Dome in October 2005 has taken an international turn as the Commission is seeking authority to interview witnesses in Canada, the U.K., and the Isle of Man. On October 31, 2005, Barrick Gold Corp. made a hostile offer for Placer Dome, and as happens…
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Doolittle Staffers Subpoenaed
Two staffers for Rep. John Doolittle (R. California) have been subpoenaed to testify before a grand jury. According to the press (Fox here) the investigation stems from lobbyist Abramoff’s investigation and later conviction. In April, Rep. Doolittle’s home in Virgina was searched. (See Washington Post here and blog here). (esp)
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Former Broward County, Florida Sheriff to Plead Guilty
The Miami Herald reports that former Broward County, Florida, Sheriff Ken Jenne, will plead guilty today to charges of conspiracy to commit mail fraud and tax evasion. (esp)
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Oscar Wyatt Trial to Begin Today
Oscar Wyatt’s trial starts today. The indictment against the 83 year old businessman comes out of an investigation of the U.N. oil-for-food program. Wyatt faces charges claiming that he paid kickbacks to individuals in "Saddam Hussein’s regime to win contracts under the United Nations’ oil-for-food program." (See Houston Chronicle here and here) For background on…
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Government Corruption in Iraq
NPR’s All Things Considered had a program on government corruption in Iraq. The focus of this program is a draft report obtained by NPR in which U.S. investigators discuss the effect of corruption on government resources in Iraq. (esp)
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ABA/ABA Money Laundering Conference
The American Bar Association and the American Banker’s Association have a upcoming Money Laundering Enforcement conference. The keynote speech will be given by Robert Mueller, the Director of the FBI. For details see here. (esp)
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