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Third GC Charged for Options Backdating
Another general counsel has been charged with fraud related to options backdating. Kent Roberts, the former GC at Network Associates — now McAfee Inc. — was charged by the U.S. Attorney’s Office for the Northern District of California (indictment below) with two counts of mail fraud, one count of wire fraud, three counts of making…
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Lawyer Charged in PIPE Securities Fraud
Former McGuireWoods LLP partner Louis W. Zehil was charged with securities fraud in a criminal complaint filed in the Southern District of New York, and the SEC filed civil securities fraud charges. Zehil is accused of defrauding corporate clients by taking shares from so-called "private investment in public equity" (PIPE) transactions, which are used by…
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The Libby Jury’s Emily Litella Moment
The jury considering the charges against I. Lewis Libby has been remarkably quiet since receiving the case on February 21, initially asking only for some office supplies and pictures of witnesses. Aside from the dismissal of a juror for contact with media reports about the trial, not much has emerged about the pace of the…
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Another E-Mail Appears in the Scrushy-Siegelman Case
The post-trial phase of the prosecution of former HealthSouth CEO Richard Scrushy and former Alabama Governor Don Siegelman just keeps dragging on, and each month seemingly brings a new purported e-mail between two jurors that could show the deliberations were tainted by outside influences. The defendants’ new trial motion based on other e-mails was rejected,…
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Hacking the News for Fun and Profit
The SEC brought an emergency action against a Hong Kong company, Blue Bottle Ltd., and its named owner, Matthew C. Stokes, for alleged insider trading. The SEC’s complaint (here) asserts that Stokes (or others) obtained advanced information about company announcements by hacking into computer networks to view press releases and other documents shortly before the…
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No News in Libby Case
The jury continued to deliberate today, with no clue as to whether they will be able to reach a verdict in this case. The press describes every move here (San Diego.Com – AP) (esp)
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Pair Engaged in Illegal Activity Related to MySpace Enter Plead
According to Yahoo News (AP) here two men plead guilty to illegal computer access for crimes related to MySpace. Perhaps the more interesting aspect of the case is that these young men were arrested in LA for crimes occurring in New York. When the crime relates to a computer, jurisdiction can be almost anywhere- the…
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Plea in Hedge Fund Case
The U.S. Attorney’s Office for the Central District of California issued a press release telling of a plea being reached in a hedge fund case. The release states that, "[a] former account vice president at a major brokerage firm pleaded guilty today to conspiring with the founder of an investment company that operated a hedge…
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KPMG – Guest Posting – Part III
Professor J. Kelly Strader (Southwestern) – Guest Blogging – KPMG PART III – KPMG produced two of the most interesting white collar crime decisions of 2006. In addition to the attorneys’ fees holding discussed in the last entry, Judge Kaplan issued another groundbreaking decision ("Stein II, discussed here). The holding had two essential components. First,…
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Juror Dismissed from Libby Trial
U.S. District Judge Reggie Walton dismissed a juror from the I. Lewis Libby case because she was exposed to information about the prosecution during the weekend break. Jurors are routinely instructed not to look at any media reports about a case or discuss it with anyone, an admonition particularly important during the deliberations. According to…
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