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Will There Be Criminal Charges From the U.S. Attorney Firings?
At a forum at Seattle University School of Law, former U.S. Attorneys John McKay (Western District of Washington) and David Iglesias (New Mexico) said that they expect criminal charges to be filed related to their firings — along with six other U.S. Attorneys — and from the subsequent Congressional investigations. McKay, who is now on…
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When Fraud Is Your Life
That scam artists are willing to lie constantly is not really surprising, but it always amazes me to see how someone can develop so many different frauds. A press release (here) from the U.S. Attorney’s Office for the Southern District of Indiana describes a series of frauds by one Alan R. King, Jr., age 29,…
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Marvell Technologies Keeps Its CEO After Options Backdating Investigation
Silicon Valley company Marvell Technologies Group determined that there was significant backdating of stock options granted to executives, and its CFO and chief operating officers resigned, although the COO is allowed to stay on in a lesser management role. The general counsel of the U.S. subsidiary was terminated earlier, although it is not clear whether…
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What Is a Reasonable Sentencing Departure
Professor Doug Berman of the esteemed Sentencing Law & Policy blog discusses a recent decision of the Second Circuit in U.S. v. Canova (available below) about how to evaluate the reasonableness of a sentencing court’s decision to grant a downward departure from the Sentencing Guidelines. The prosecution involved Medicare fraud, and among the grounds for…
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SEC Files Insider Trading Charges Against Hong Kong Couple for Dow Jones Trades
The offer by Rupert Murdoch’s News Corp. for Dow Jones may come to naught, but it has triggered another insider trading case against foreign purchasers. The SEC filed a complaint (here) in the U.S. District Court for the Southern District of New York against Kan King Wong and Charlotte Ka On Wang Leung, a husband…
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Another Deal, Another Spike in Options Trading
It’s the same refrain: a deal is announced — usually a buyout by a private equity firm — and in the days before the public disclosure trading in out-of-the-money call options shoots up. The latest example: the acquisition of Florida East Coast Industries by Fortress Investment Group for $84 per share, a bit more than…
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Radler Testifies in Conrad Black’s Trial
Rick Westhead of the Toronto News reports on the testimony provided by the key witness for the government in the Conrad Black trial. David Radler is the link the government is using to present its case against Black. But because so much of this case appears to rest upon the credibility of this witness, it…
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White Collar Crime in the Education World
Universities are not exempt from scrutiny by prosecutors. This is demonstrated in two recent cases. The Chronicle of Higher Education reports on the arrest of two individuals "accused of defrauding the Rhode Island School of Design." In yet another case, the Chronicle reports on a ten year sentence being given to the "former chief financial…
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AG Related Issues Remain a Top Billing
The Washington Post has two stories today that keep the AG’s office as one of the top stories in the paper. Dan Eggen has a piece on the likelihood that immunity will be given to Monica Goodling. And DOJ’s Office of Professional Responsibility (OPR) and the Justice Department’s Inspector General are questioning whether immunity is…
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Veco’s Chair and CEO Get Quick Pleas
Following three new indictments, there were some quick pleas by the Chairperson and the CEO of Veco. The Wall Street Jrl provides details here. (esp)
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