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Jury Deliberations Resume on Monday in Conrad Black Trial
The jury deliberations in the Conrad Black trial will resume on Monday. Canada.com reports on a recent request by the jury to view a prosecution summary chart. (esp)
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English Magistrate Rejects Extradition and Castigates the U.S. Prosecutor
An English Magistrate rejected the request of the U.S. government to extradite Stanley Tollman to face bank fraud and tax evasion charges that he defrauded investors of over $100 million (opinion available below). The ground for denying the request was that the passage of time since the underlying criminal conduct would make it "unjust and…
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Internet Gambling Processor Pleads Guilty
The co-founder of NETeller PLC, which acted as a middleman to facilitate Americans placing bets with on-line gambling sites, entered a guilty plea to one count of conspiracy and is cooperating with the government investigation. The company did not take any bets itself, instead served as the conduit through which the money passed to the…
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Four Former ConAgra Execs Settle SEC Accounting Fraud Charges
Four former finance executives at ConAgra Foods, Inc., settled SEC civil enforcement and administrative actions for their roles in a variety of accounting entries that inflated the company’s earnings and resulted in misstated financial statements being filed. The executives served at one time as the CFO, controller, and vice president for taxes, and according to…
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Scrushy and Siegelman Go Directly to Jail
It took a few days of hearings before Chief U.S. District Judge Mark Fuller finally sentenced former HealthSouth CEO Richard Scrushy and former Alabama Governor Don Siegelman to prison for their convictions on conspiracy and corruption charges. Although the government sought sentences of twenty-five and thirty years for the two, Scrushy received a sentence of…
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Are Prosecutors Getting Ready to Go After Weiss and Lerach?
The Los Angeles Daily Journal is reporting that prosecutors offered a plea deal to leading class action attorneys Melvyn Weiss and William Lerach related to allegedly illegal kickbacks paid to representative plaintiffs. The report also indicates that former Milberg Weiss name partner David Bershad is cooperating in the investigation of his former firm, which was…
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The Bumpy Road at the Reyes Trial
The first options backdating criminal prosecution to go to trial seems to be quite a bumpy road out in Baghdad-by-the-Bay — San Francisco. Gregory Reyes, the former CEO of Brocade Communications, is accused of securities fraud for his role as a committee-of-one who decided on options awards to employees, including new hires, that involved backdating…
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Executive Fired for Trying to Destroy Documents During an Internal Investigation
With investigations of corporations for criminal conduct a common feature of the landscape these days, any news about an attempt to destroy corporate records is sure to get the attention of prosecutors. That conduct is particularly problematic when the it is the company’s chief accounting officer. Homebuilder Beazer Homes USA, Inc. is being investigated by…
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White House Asserts Executive Privilege to Prevent Testimony of President’s Aides
Not surprisingly, the White House asserted Executive Privilege in response to subpoenas from the Senate Judiciary Committee seeking documents and the testimony of former senior Presidential aides Harriet Miers, who was Counsel to the President, and Sara Taylor, former political director (see earlier post here). The subpoenas were sent as part of the investigation of…
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Another Set of Subpoenas to the White House
The Senate Judiciary Committee sent subpoenas to the White House, the Office of the Vice President, the National Security Counsel, and the Department of Justice for documents related to the government’s domestic surveillance program launched after the September 11 attacks. These latest subpoenas arise out of the investigation of the firing of nine U.S. Attorneys…
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