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The Continuing Saga of Former Alabama Governor Siegelman
When former Alabama Governor Don Siegelman was sentenced recently to a fairly significant term of over seven years in prison for his conviction on corruption charges, you would think that the case would quiet down. Even though the appeal is headed to the Eleventh Circuit, there continues to be action surrounding the conviction in other…
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Could the Libby Commutation Impact the Sentencing Guidelines?
The President’s Order of Executive Clemency that remitted the thirty-month prison sentence of I. Lewis Libby keeps raising new questions about federal sentencing now that the White House has determined any prison term was "excessive" even though the judge faithfully applied the Federal Sentencing Guidelines. This past Supreme Court term, the United States argued for…
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Reyes Gets Ready to Defend the Options-Backdating Charges
Former Brocade Communications CEO Gregory Reyes gets his turn to rebut the government’s charges of conspiracy and securities fraud for options backdating at the company. First up is the defense Rule 29 motion for a judgment of acquittal, which will be decided by U.S. District Judge Charles Breyer. In the defense brief (available below), Reyes’…
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Indictment of Credit Suisse Investment Banker and Tippee in Pakistan
A grand jury indicted a former Credit Suisse banker for tipping a banker in Pakistan about deals on which the firm had an advisory role before the disclosure of the transaction. The investment banker was arrested on a criminal information in May 2007 (see earlier post here), and at that time the tippee was unknown. …
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Standards for Commuting a Sentence
For those interested in the standards enunciated in 2003 by the White House for commuting the death sentence of a federal prisoner to a term of life imprisonment without possiblity of parole, check the post on The Legal Ethics Forum blog here. (ph)
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Should Libby Have Been Required to Serve a Day in Prison?
The President’s commutation of the thirty-month sentence of I. Lewis Libby has created a bit of a mess on a number of different fronts. First, was it really a commutation? The former Pardon Attorney at the Department of Justice, Margaret Love, explains that when the executive commutes a sentence it merely reduces the penalty, but…
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Stiff Sentences Handed Down to Enterasys Executives
Four former executives of Enterasys Networks, Inc., a Massachusetts network router company, received substantial prison terms for their role in an accounting fraud at the company in 2001. The defendants, who were convicted on a variety of charges including conspiracy and securities fraud, include Enterasys’ former CFO, sentenced to over eleven years, and its former…
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Trading Ahead of the Hilton Hotels Offer
Trading in Hilton Hotels Corp.’s stock and call options jumped wildly right before the announcement after the close of trading on July 3 that Blackstone Group would take the company private at $47.50 per share. The stock price had been hovering in the low thirties, although on July 3 the shares jumped over $2 per…
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SDNY Dismisses Counts in FCPA Indictment on Statute of Limitations Grounds
In a recent ruling, the Southern District of New York issued an opinion dismissing all counts of an Indictment, except false statement counts. The government argued that the statute of limitations should be tolled "based on the government’s official requests for foreign evidence from the Netherlands and Switzerland. In rejecting this argument, the court stated…
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“Far from a Slap on the Wrist” – Libby’s Sentence
"Far from a slap on the wrist," is what Tony Snow, white house spokesperson, said when talking about the fact that President Bush decided to commute Libby’s sentence so that he will not have to serve any jail time. After all, Libby will have probation or is it supervised release, a fine, and the collateral…
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