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Dep of Greenberg a “GO”?
It looks like Spitzer is going to force Maurice Greenberg, former CEO of AIG, to either testify or take the 5th. (see Wall Street Jrl here) And it seems like no continuances are in store for him. Our posts here, here, here show the growing pressure on individuals associated with AIG. And here we raised
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Ponzi Schemes – Historical Perspective
The NYTimes has a book review of a new book by Mitchell Zuckoff, called "Ponzi’s Scheme." The review by David Margolick is titled, "His Last Name is Scheme" and it sounds like the book is an indepth history of Charles Ponzi. (esp)
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Environmental Settlement
Mobil Exploration & Producing U.S. Inc. has agreed to settle with the DOJ and EPA on clean air act violations. The DOJ press release states that: "The company will pay a $350,000 penalty and spend about $500,000 on operation improvements to control air pollution at its oil field. "Mobil will also spend $99,849 on a
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SOX Scholarship
The Buffalo Criminal Law Review has a new issue devoted to white collar crime scholarship. To start the discussion of this new scholarship it seems most appropriate to note the piece by my co-blogger, Peter Henning. Peter’s piece on the Sarbanes-Oxley Act is titled, "Sarbanes Oxley Act Section 307 and Corporate Counsel: Who Better to
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AIG- It Touches Many
Yes, more on AIG – get used to it – – this is not likely to end soon. But what is the effect of investigations like this one, on those around the company, even those who may not be involved in any illegal activity. The NYTimes presents a fascinating piece this a.m. by Timothy L.
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Scrushy Seeks to Exclude Transcript of His SEC Testimony
The prosecution of Richard Scrushy seems to have nearly come to a complete stop, with an occasional day (or less) of testimony, seemingly followed by a week of recess. It has now fallen behind watching paint dry on the interest meter, and I wonder whether the jury feels that the government’s case is floundering. During
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When Malpractice Becomes a Crime & the Obstruction of Justice Enhancement After Booker
A lawyer realizes that he has failed to file suit within the statute of limitations. What should the lawyer do? An answer about what not to do is provided in United States v. Holmes (here), a recent decision of the Fifth Circuit. [The next two posts also review convictions of lawyers — I guess it’s
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Stealing From a Client = 41-Month Sentence
The basic premise of the lawyer-client relationship is that the lawyer acts as the fiduciary of the client, responsible for protecting the client’s interests. When that relationship goes awry and the lawyer steals from the client, it is one of the worst white collar crimes. In United States v. Della Rose, the Seventh Circuit upheld
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Can a Lawyer Plead Ignorance of the Law As a Defense?
David Tedder was a lawyer who helped two clients set up an off-shore gambling business and created a company to funnel money to them, in violation of 18 U.S.C. Sec. 1084 (here), which prohibits the use of wire communications for the purpose of wagering or betting. Tedder created a company called Clear Pay to move
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Nine Years in Prison for Spamming
The headline is correct! A court just sentenced a spammer to nine years in "the U.S.’s first felony prosecution for sending junk e-mail." But the defendant is not quite headed off to jail. The court is allowing him to stay outside the prison system pending the appeal. See more in the Wall Street Jrl. here,
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