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The Boy Scouts?
Are the Boy Scouts having issues? According to the Atlanta Jrl Constitution here, an audit is examining the reporting of membership in the Boy Scouts. The AJC article, although speaking mainly to the Atlanta area, also notes that: "The FBI is looking into allegations of membership inflation involving the Greater Alabama Council, which governs troops…
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Moving Onto New Insurance Companies
Looks like Chubb Corp. has been subpoenaed and its the feds (as opposed to Spitzer’s Office) doing the looking this time. (see Wall Street Jrl. here).One can only say that the insurance industry is the hot investigation topic if you happen to be in New York. But things at Chubb Corp. appear to be going…
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Wrong Again, Naturally!
If you’ve ever gone to the racetrack, you’ve seen the tout sheets that proudly display their winning picks for the day. I am proud to say that I hit the daily double in predictions about testifying defendants: my prognostication back in January (no, I won’t search for the link) was that Bernie Ebbers was less…
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What Kind of a Business Is It?
How one chooses to organize a business is usually of concern primarily for tax and regulatory purposes, and only rarely is it an issue in the criminal law. Two areas that I can think of where the particular legal form under which a business operates will be important are for the privilege against self-incrimination (only…
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TIAA-CREF CFO Takes Unpaid Leave
As expected, TIAA-CREF CFO Elizabeth Monrad has stepped down temporarily from her position because of the Wells notice she received from the SEC about its current intention to file securities law charges against her related to the AIG-General Re reinsurance transaction (earlier post here). A Wells notice is the term for the notification provided by…
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Enron Stuff
Lest we forget about the various Enron proceedings that are taking place, here’s a short update: Enron Broadband Services Trial: A funny article in the Houston Chronicle (here) expresses the frustration of the reporter, and probably the jurors, as the trial descends into tech-speak — but then, the case is about whether the various statements…
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Will Scrushy Be the Next Defense Witness?
The trial of Richard Scrushy has turned positively somnambulant over the past week as the defense called two expert witnesses to split hairs about the value of Scrushy’s stock options and the effects of the fraud on HealthSouth’s share price. Things may have hit a new low on the interest meter on Tuesday when the…
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Should Materiality Be an Element of Obstruction of Justice?
Blog co-editor Ellen Podgor will have an article coming out in volume 44 of the Washburn Law Journal, as part of a symposium issue on white collar crime, that compares the obstruction charges against Arthur Andersen and Martha Stewart. The article, entitled Arthur Andersen, LLP. and Martha Stewart: Should Materiality be an Element of Obstruction…
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Saks Fires Three Executives Over Improper Accounting of Vendor Allowances
Saks Inc. announced the results of a previously disclosed internal investigation into accounting for vendor allowances for marked down inventory, and has fired three executives from its Saks Fifth Avenue division (I resisted using the term "Sacked" in the title, just barely). Saks had conducted an internal investigation in 2002 into the same issues, and…
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Let’s Stick to the Case- Not Senator A
Unfortunately, it sounds like there might be some outside interference in the upcoming David Rosen trial (reported here) that starts today. Yahoo reports here that "A conservative watchdog group with a history of dogging the Clintons urged a Senate panel on Monday to investigate Sen. Hillary Rodham Clinton over a Hollywood fundraiser for which a…
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