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Is Avarice a Crime?
Viacom Inc. disclosed the pay packages for its top three executives, and I think they are offensive, although certainly not criminal because the company’s board approved them and the information has been properly disclosed. The company’s proxy statement, filed yesterday with the SEC (available here), discloses that Sumner Redstone, the CEO and controlling shareholder (he
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Doctor Being Investigated for Providing Steroids to NFL Players Loses License
The South Carolina Board of Medical Examiners suspended the license of Dr. James Shortt for allegedly writing large prescriptions for testosterone. Dr. Shortt is at the center of an investigation of possible steroid use by Carolina Panthers players shortly before the 2004 Super Bowl who received the drugs with prescriptions written by him. According to
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IRS Employee Charged With Destroying Tax Records
The run-up to April 15 brings a wave of indictments for tax evasion, failure to file tax returns, and the like. A different case was announced on tax day by the U.S. Attorney’s Office for the District of Massachusetts involving an IRS employee, James Lewis, at the Andover (Mass.) tax processing center who allegedly detroyed
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Fifth Amendment Privilege for Collective Entities
Lance Cole (Penn State) published an article in the Columbia Business Law Review (here) entitled "Reexamining the Collective Entity Doctrine in the New Era of Limited Liability Entities — Should Business Entities Have a Fifth Amendment Privilege?". Lance argues that the Supreme Court’s interpretation of the Fifth Amendment that excludes collective entities from asserting the
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TaxProf Celebrates Its First Birthday
Paul Caron’s TaxProf blog — which he boldly proclaims has "spawned" 12 other professor blogs among other achievements — celebrates its first birthday today (post here). Congratulations from a grateful spawnee, and many happy 1040s! (ph & esp)
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Raytheon Submits Offer to SEC to Settle Accounting Case
Raytheon Company, a large defense contractor, has submitted an offer to the SEC to settle an accounting investigation related to revenue recognition at its commuter aircraft subsidiary. The offer, which the SEC staff has agreed to recommend to the Commission to accept, requires the company to pay a $12 million civil penalty along with the
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Four Former Sales Executives at Serono Laboratories Indicted for Offering Kickbacks to Doctors
The United States Attorney’s Office for the District of Massachusetts (Boston) announced the indictment of four former U.S. sales executive of Serono Laboratories Inc., a biotech company headquartered in Switzerland, for offering doctors and their guests an all-expense paid trip to Cannes — for a medical conference, of course — if they would write prescriptions
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Round Three for Scheidler v. NOW
The long-running RICO lawsuit between NOW and anti-abortion activists has made it to the Supreme Court twice, with decisions in NOW v. Scheidler, 510 U.S. 249 (1994) (RICO does not require proof of an economic motive) and Scheidler v. NOW, 537 U.S. 393 (2003) (the Hobbs Act [as a RICO predicate racketeering activity] requires that
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DOJ Civil Division Lawyers Practicing Without a Bar License
The Legal Ethics Forum blog has a terrific post (here) about two DOJ Civil Division lawyers who were practicing without a law license while representing the government in, among other cases, a large class-action by African-American farmers against the Dept. of Agriculture alleging discrimination. The post discusses not only the problems caused by the unauthorized
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The Sophisticated Means Enhancement After Booker
The Third Circuit issued an unpublished opinion in United States v. King (here) that discusses the sophisticated means enhancement in Sec. 2T1.1 of the Guidelines in light of Booker. The defendant entered a guilty plea to tax evasion, and challenged the two-level enhancement for use of a sophisticated means, an argument the Third Circuit rejected,
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