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Court Rejects Overturning Skilling’s Convictions
It is extremely rare that a trial court overturns a jury conviction. More likely one finds the court granting a motion mid-trial to dismiss certain counts when there was insufficient evidence presented by the government. It is, therefore, not surprising to see the trial court refusing a request to reverse Jeffrey Skilling’s conviction. (see Houston…
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Where Has All the Money Gone?
Do prosecutors need a Gideon-like decision to assist them in obtaining more funding for government prosecutions? Or has DOJ mismanaged money resulting in a shortfall? Irrespective of why the money to prosecute is low, it is certain that two representatives Henry Waxman and John Conyors Jr. have had enough of the situation. In a letter…
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Was it “Manna from Heaven?”
Perhaps one of the most complicated areas of the law to understand is "act of production" when confronted with an immunity grant. How far can the government go in indicting a person when materials received from the individual were obtained pursuant to a grant of immunity? A recent decision of the U.S. D.C. Circuit Court…
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Universities Implementing Fraud Hotlines
Sometimes academics are well ahead of the corporate world, but sometimes they can also lag behind. Many corporations, as part of their compliance or "effective" programs, have implemented measures to allow anonymous reporting of fraud or other noncompliance within a corporation or business. The Chronicle of Higher Education reports here (subscription required) that a growing…
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Will the Government Retry Quattrone
The case often cited for a prosecution that emanates from an email, is the failed prosecution of Frank Quattrone. The first time the jury hung; the second time the court reversed the conviction; and now Quattrone stands again before the court for perhaps a third trial. According to the Wall Street Jrl here, it sounds…
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Cold Money
According to reports here on a government affidavit, $ 90,000 was found in the refrigerator of Rep. William J. Jefferson. But why he had this money, is of course the key question. And how, if at all, does this connect to Atiku Abubakar, the vice president of Nigeria, who denies involvement in any illegal activities…
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Spitzer’s Start in the Fund Investigation
Washington Post here has an excerpt from the 2006 book "Spoiling for a Fight: The Rise of Eliot Spitzer" by Brooke A. Masters. It details from the very first tip received, the investigation of mutual funds. (esp)
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Morgan Stanley’s Mack Will Testify in SEC Insider Trading Probe
John Mack, CEO of investment bank and broker Morgan Stanley, agreed to an SEC request that he testify in its probe of possible insider trading by hedge fund manager Pequot Capital Management, where he served briefly as chairman before becoming CEO of the investment bank a second time in 2005. The Commission investigation became a…
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See the U.S.A. in a Chevrolet
The so-called NatWest Three, British investment bankers David Bermingham, Giles Darby and Gary Mulgrew, will be residing in or around the Houston area while they await trial on fraud charges related to an Enron deal in which they are accused of defrauding their employer out of a $7.3 million gain. The extradition of the three…
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Tennessee Candidate Pleads No Contest and Protests His Innocence
This one isn’t exactly a white collar crime, but it involves a person running for elected office and has a rather appealing bizarreness to it. Mark Albertini is running for the Republican nomination for Governor in Tennessee, and was arrested on the evening of July 20 for public intoxication. Early the next morning, Albertini entered…
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