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More on KPMG – Stein et al and Thompson Memo
Attorneys Stephen W. Grafman and William F. Boyer have a superb piece in the National Law Journal here discussing Judge Kaplan’s recent decision in the KPMG related case. They argue that the opinion does not go far enough and that dismissal of the government’s case is in order. Many have been critical of the Thompson…
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Abramoff Dominos Falling
According to the Washington Post here, yet another person is pleading guilty after being implicated by testimony given by Jack Abramoff. Roger G. Stillwell, a former Interior Department employee plead guilty after receiving gifts such as sports and concert tickets. The Washington Post’s web page here provides a listing of the guilty pleas entered to…
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Weekend News Stories
Is it that white collar crime is increasing? Is it that the press is reporting more white collar related stories? Is it that prosecutors are prosecuting more white collar crimes? From a term coined by Edwin Sutherland in 1939, "white collar crime" has certainly become a common theme these days. Just looking at some of…
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A Lawyer is not an Ostrich
When a lawyer claims that he or she was unaware that something is against the law, they may have a tougher time in maintaining their ignorance. If they cross the line, they can be facing jail time. The August 11th ABA E-Journal Report here has a superb story on the recent decision of the Third…
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Five Doctors Indicted in Georgia For Internet Drug Prescriptions
Five doctors and two others were Indicted in the Northern District of Georgia. According to a press release of the U.S. Attorney for the Northern District of Georgia here, two of the individuals were owners of a business that is: "based in Marietta, Georgia. These business sought customers who would request specific controlled substances and…
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Brocade Executives Indicted
As expected, a grand jury indicted former Brocade Communications CEO Gregory Reyes and former human resources VP Stephanie Jensen, supplanting the securities fraud complaint issued on July 20. Reyes is indicted on twelve charges and Jensen on eight, comprised of conspiracy, securities fraud, mail fraud, false entries in the company’s books, and four counts of…
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Former Wal-Mart Executive Sentenced to Home Confinement
Former Wal-Mart executive Tom Coughlin, who was with the company from its founding by Sam Walton and served most recently as vice-chairman of the board of directors, received a 27-month term of home confinement after pleading guilty to defrauding the company and tax evasion. Coughlin admitted to taking gift cards for use at company stores…
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Where the Heck is Kobi Alexander?
Former Comverse Technology CEO Kobi Alexander was charged with conspiracy along with two other senior executives, but has not been located at this point. While a Department of Justice press release (here) notes that two brokerage accounts with $45 million of Alexander’s assets have been frozen, it appears that he transferred over $57 million to…
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Another $1 Million in Cash Will Keep Lord Black Free on Bail
Federal prosecutors in Chicago and Lord Conrad Black have been involved in a nasty dispute over whether his financial disclosure in connection with the bail application was complete and truthful. The U.S. Attorney’s Office requested that U.S. District Judge Amy St. Eve revoke Black’s $20 million bond and send him to jail pending a trial…
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Retirement Secrets of the Rich Triggers SEC Fraud Action
The SEC filed a civil securities fraud action against Jon W. James and his firm, Jon W. James & Associates (JWJA), for a program targeting retirement funds that would be invested in real estate and generate "double-digit returns" for participants. James solicited investors by inviting them to free dinners that advertised "Retirement Secrets of the…
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