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Conte Likely Will Face Additional Money Laundering Charges in the BALCO Case
Victor Conte, founder of the Bay Area Laboratory Co-op (BALCO) who has admitted providing steroids to a number of athletes, will likely face additional money laundering charges, according to an AP story (here). At a closed hearing in San Francisco on June 7, the government disclosed that it plans to issue a superseding indictment with…
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“Porn Star” Insider Trading Case Nears Its End
The long-running insider trading case involving James McDermott, former CEO of investment banking firm Keefe, Bruyette & Woods (KBW) and Kathryn Gannon, better known the adult film world as Marilyn Starr, largely came to an end with the entry of a final order in the SEC’s civil enforcement action and an administrative order (here) barring…
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Defense Department Inspector General’s Report on Boeing Aircraft Lease Program
The Department of Defense’s Inspector General issued a very extensive report on the acquisition program involving the leasing of 100 tankers from Boeing (at a total cost of over $23 billion) that involved what it termed an "inappropriate acquisition strategy." Problems of favoritism shown to Boeing by Darleen Druyan, former Principal Deputy Assistant Secretary of…
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Aircraft Parts Manufacturer and Two Executives Charged with Providing Materials for Military Aircraft That Failed to Meet Product Specs
Anco-Tech, Inc., and two of its executives, Andrew Maliszewski, a quality manager and vice-president, and Alan Maliszewski, a sales manger and later a quality manager, were charged with mail fraud, aircraft parts fraud (18 U.S.C. Sec. 38), and conspiracy related to the sale to Boeing of titanium tubing that was used in the V-22 Osprey…
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Panel Discussion on New Corporate Crime Book by David Skeel
A panel discussion will take place on Wednesday, June 8, at 6:00 p.m. at the New School (Theresa Lang Student Center, 55 West 13th Street, New York) on a new book published by Oxford University Press by Professor David Skeel (University of Pennsylvania), Icarus in the Boardroom: Saving American Business From Corporate Corruption. The panel…
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Proving a White Collar Crime
The Baltimore Sun has an interesting article (here) about the difficulties in proving a white collar crime case, including the current prosecutions of former CEOs Richard Scrushy and Dennis Kozlowski. Blog co-editor Ellen Podgor points out the core problem with these cases, that the evidence of criminality is difficult to come by as compared to…
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Quest Diagnostics Receives Subpoena in DOJ Investigation
Quest Diagnostics Inc., which provides health care testing and laboratory services, disclosed that it received a subpoena from the U.S. Attorney’s Office in New Jersey as part of an investigation into possible overbilling. Quest’s Form 8-K (here) may set a record for pithiness in its disclosure, consisting of a single paragraph filled with boilerplate statements:…
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Former Speaker of Mass. House of Representatives Charged with Perjury and Obstruction of Justice
Former Speaker of the Massachusetts House of Representatives Thomas Finneran was charged with perjury and obstruction of justice related to his testimony in a federal voting rights case in which racial gerrymandering was alleged by the plaintiffs. According to the press release issued by the U.S. Attorney’s Office (here): The Indictment alleges that FINNERAN committed…
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Former Inso Corp. General Counsel Convicted of Perjury
Former Inso Corp. General Counsel Bruce Hill was convicted of one count of perjury in Boston related to his testimony before the SEC in an investigation of a sham transaction with a Malaysian purchaser of software. A press release issued by the U.S. Attorney’s Office (here) states that Hill "played a pivotal role in arranging…
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Lea Fastow Goes to Halfway House
Lea Fastow, wife of former Enron finance exec Andrew Fastow, was released from prison early this a.m. and moved to a halfway house for the remaining one month of her sentence. For details see AP story here. According to the AP story she was released at 4:00 A.M. and had to report at 4:15 A.M.…
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