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More Military Related Matters
DOJ reports here on a plea in an antitrust bid-rigging case related to U.S. Navy contracts. The press release states that the two Pennsylvania executives had agreed to "pay a criminal fine of $10,000 each and to serve up to six months in jail for their participation in a conspiracy to rig bids for Department…
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Life for Rigas As He Awaits the Appeal Process
Paul Heimel of the Orlean Times Herald has a story on what life is like for 82-year-old John Rigas as he awaits word from the appellate tribunal on whether he will have to begin serving his 15 year prison sentence. (esp)
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Guest Blogger – KPMG – Part II
Professor J. Kelly Strader – Guest Blogging – KPMG – Part II KPMG has already produced several extraordinary decision, with more likely ahead. In something of a nuclear explosion for the government, last June, Judge Kaplan, who is presiding over the case, found that KPMG had threatened to withhold payment of attorneys’ fees if its…
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Yet Another US Attorney Gone
We noted here, here, here, and here on the recent exodus of USAs throughout the country. The Washington Post reports here on yet another. Is this getting a little out of hand? Is there some correlation here that warrants review? The bio page of the latest individual leaving the office, Margaret Chiara,here is most impressive.…
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KPMG – Guest Posting
Guest Blogging – J. Kelly Strader – Professor of Law, Southwestern Law School The KMPG Saga, Part 1 I recently gave a talk on the KPMG case at a symposium sponsored by Chapman University School of Law entitled "Miranda at 40: Implications in a Post-Enron, Post 9/11 World," and I thought I would share some…
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Criminal Investigation of KB Home’s Options Backdating
The Department of Justice is looking at the options issuance practices of KB Home, joining a previously-disclosed SEC formal investigation. According to a company press release (here): "KB Home’s past stock option grant practices are being investigated by the Securities and Exchange Commission. The Department of Justice is also looking into these practices but has…
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Tongsun Park Receives Maximum Sentence in Oil-for-Food Corruption Case
South Korean businessman Tongsun Park first burst on the scene in the 1970s when he was indicted on influence-peddling charges in the Koreagate contributions scandal, although the charges were eventually dropped after he fled the United States. With the United Nations’ Oil-for-Food program designed to get humanitarian aid into Iraq during the embargo after the…
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Considering White Collar Crime Sentences
Blog co-editor Ellen Podgor published an interesting article in the Yale Law Journal Pocket Part about the current nature of white collar crime sentences, "Throw Away the Key." She discusses the recent phenomenon of lengthy sentence for white collar defendants who are almost always first-time offenders posing no threat to society. She argues: No doubt…
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Brazilians Settle SEC Insider Trading Case
Just in time for the end of Carnival, two Brazilians settled an SEC insider trading civil suit arising from purchases in the target of an impending tender offer. The defendants are Luiz Gonzaga Murat was the chief financial officer and investor relations director at Sadia S.A., a Sao Paulo frozen food company, and Alexandre Ponzio…
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NYSE Floor Broker’s Conviction Reversed
U.S. District Judge Denny Chin reversed the securities fraud convictions of New York Stock Exchange floor broker David Finnerty, another in a series of setbacks in high-profile securities fraud prosecutions that began with a big splash and seems to be ending with a whimper. Fifteen brokers were indicted on charges alleging that they stepped in…
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