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AntiTrust Division Did Not Require Attorney-Client Waiver in Samsung Agreement
It is nice to see that the Antitrust Division of DOJ is not requiring a waiver of attorney-client privilege on its plea agreement with Samsung Electronics Company, LTD and Samsung Semiconductor, Inc. The plea agreement here specifically notes in two places in the cooperation portion of the agreement that it requires production of "non-privileged documents,…
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More Scrushy — At Last the Documents
As noted here, the SEC dismissed the fraud counts against Richard Scrushy, former CEO of HealthSouth. But also noted is that although Scrushy was found not guilty in his federal trial brought by the government, there are now new federal charges in the Middle District of Alabama against him, this time he has a co-defendant,…
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Using a Cooperating Witness to Run for Political Office as Part of an Undercover Corruption Investigation in West Virginia Triggers Prosecutorial Misconduct Claim
A Washington Post article (here) describes how the former mayor of a small town in southwestern West Virginia ran for office as part of an undercover FBI investigation to ferret out political corruption. Logan County has been famed in West Virginia for its corrupt politics, in which votes were bought for small amounts of cash…
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Fraud Counts Dismissed from SEC Complaint Against Scrushy
U.S. District Judge Inge Johnson dismissed the two securities fraud counts from the SEC’s civil complaint (here) against former HealthSouth CEO Richard Scrushy, although she gave the Commission 15 days to refile the charges. The SEC filed its complaint against Scrushy and HealthSouth in March 2003, and alleged violations of Section 17(a) of the 1933…
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Enron Defense Claim of Prosecutorial Misconduct Rejected
U.S. District Judge Sim Lake concluded after a hearing that the claims of Enron defendants Ken Lay, Jeffrey Skilling, and Richard Causey of prosecutorial misconduct based on efforts to discourage potential witnesses from meeting with defense counsel were unfounded. After hearing the testimony from local Houston attorneys Bob Sussman and Wendell Odom, who represent several…
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David Anders Crosses Over
Following in the footsteps of many before him, Assistant U.S. Attorney David Anders from the Southern District of New York will be leaving that office at the end of the year to join Wachtell, Lipton in its white collar crime group. Anders is well-known for his role in prosecuting Frank Quattrone on obstruction charges (twice,…
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Army Reserve Officer Charged With Smuggling Money From Iraq
Army reserve Lt. Colonel Michael Wheeler was arrested and charged with bribery, fraud, and money laundering that included smuggling at least $100,000 in cash from Iraq. Wheeler was responsible for contracting for the Coalition Provisional Authority, South Central Region, and is accused of taking money intended for the reconstruction of Iraq and using it to…
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Lord Black Pleads Not Guilty
Lord Conrad Black entered a not guilty plea, as expected, at his arraignment in U.S. District Court in Chicago on charges for defrauding Hollinger, Inc., when he was CEO and its controlling shareholder. Black posted a $20 million bond secured by his Florida home, and will be permitted to travel to his home in Toronto. …
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Insurance Executive Sentenced to Ten Years for Fraud
Michael Segal was convicted in 2004 of fraud, embezzlement, and racketeering for using his insurance firm, Near North Insurance Brokerage, to bilk clients to support a lavish lifestyle. At his sentencing in the U.S. District Court for the Northern District of Illinois, Segal protested to the he had never stolen a dime in his life,…
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SEC Settles Mutual Fund Late Trading Case Against Hedge Fund
The SEC announced that it had settled an administrative action against Millennium Partners, a hedge fund, for late trading and market timing transactions in mutual funds. Millenium Partners, which manages over $5 billion, agreed to disgorge $148 million in profits, Israel Englander, its managing member, will pay a $30 million civil penalty, and Terrence Feeney,…
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