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Tax Shelters – Legal or Illegal
The case related to the prosecution of the KPMG defendants may rest to some extent on the legality of the tax shelters. According to the NYTimes here an investigation in Deutsch Bank’s role in some tax shelters may also present this same problem. The added issue here is whether "advice of counsel" (claiming a legality…
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Documents Seized from Rep. Jefferson’s Office Remain on Ice
The documents seized by the FBI from Louisiana Representative William Jefferson’s office back in May remain unreviewed, even though the President’s order (here) directing the Solicitor General to hold them undisturbed for 45 days expired on July 9. Chief U.S. District Judge Thomas Hogan, who approved the search warrant, held a hearing on June 16…
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Can Granting Stock Options Be Insider Trading
SEC Commissioner Paul Atkins set off a bit of a controversy when he praised so-called "spingloaded" options granted to corporate executives in advance of the disclosure of good news and said that they cannot constitute insider trading. In his remarks to the International Corporate Governance Network (here), he stated: A scenario that has drawn much…
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How Safe is Your Computer?
So, according to the Washington Post here, the government hires a computer consultant. And the computer consultant breaks into the government computer. And data on the government computer is compromised. And this includes FBI data such at the classified documents and the password of the Director of the FBI. And the program used to do…
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SoCom Conviction Vacated in Part
A former Army colonel who had been convicted of bribery and other charges (see here), had a major portion of his case thrown out by the court. According to the St Pete Times here, the conviction on bribery was thrown out, the wire fraud counts were sent back for a new trial, leaving only a…
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Where Should Former Mayor Bill Campbell Live During Appeal
According to the Atlanta Jrl. Constitution here, former Atlanta Mayor Bill Campbell requested that he be permitted to remain free on bail pending appeal. He was given a sentence of 30 months on a conviction for tax evasion. (see here) (esp)
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Four Found Guilty in Chicago Corruption Trial
Four former aides in the administration of Chicago Mayor Richard Daley, including the man routinely described as his "longtime patronage chief," were found guilty on mail fraud and false statement charges in a prosecution brought by U.S. Attorney Patrick Fitzgerald. Robert Sorich was head of the Office of Intergovernmental Affairs, an innocuous sounding cog in…
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Indictments Are Not Good For Your Health
The sudden death of former Enron CEO Ken Lay from a heart attack only six weeks after his conviction raises the issue of the health effects of prosecutions on white collar defendants who never expect to have to face a criminal trial, much less a prison sentence. An article in the Fulton County Daily Report…
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When a Violation Is Not a Violation
Peter Lattman on the Wall Street Journal Law Blog has an interesting post (here) about the non-prosecution agreement Boeing entered into with the government to settle a variety of government investigations into the company. The agreement (here) contains a provision regarding what constitutes a violation: “The commission of a defined offense by a Boeing employee…
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Prosecutors Under the Gun
Assistant United States Attorneys have come in for criticism in two recent opinions regarding the veracity of their statements to courts. In United States v. Stein, the prosecution of 16 former KPMG partners and employees, U.S. District Judge Lewis Kaplan criticized the government’s assertions regarding pressure it put on KPMG to cut off attorney’s fee…
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