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Comparing Ebbers and Lay
Bernie Ebbers offered the "honest-but-ignorant CEO" defense, and the jury rejected it. Ken Lay, former CEO of Enron, has advanced a similar position, asserting his innocence because he did not know about the complex financial chicanery at the company (check his personal website at http://www.kenlayinfo.com). An interesting post at TalkLeft (here) notes that while the
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No Immunity for Canseco
Jose Canseco’s request for immunity so that he can testify completely — beyond the statements already contained in his book, 60 Minutes interview, and numerous other promotional appearances — has been rejected by the House Government Reform Committee, to no one’s real surprise. The Committee did excuse Jason Giambi from having to testify because he
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Former Qwest CEO and Other Executives Sued by SEC for Fraud
Former Qwest CEO Joseph Nacchio, two former CFOs, and five other former senior executives at the Baby Bell were sued by the SEC for fraudulent accounting at the company; two executives settled their cases. The SEC Litigation Release (here) states that under the direction of the defendants "Qwest fraudulently recognized over $3 billion of revenue
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Sentencing and White Collar Crime Conference at William & Mary
The Institute of Bill of Rights Law at William & Mary, Marshall-Wythe School of Law will host a half-day conference (announcement here) on March 25, 2005, on the effect of the Supreme Court’s decision in United States v. Booker on sentencing in white collar crime cases. An announcement states: "Speakers of the conference include James
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Let The Second-Guessing Begin
One of the first questions asked of Reid Weingarten after he left the courthouse was whether having Bernie Ebbers testify was a mistake. Weingarten responded, in effect, that he thought it was a good decision then and, if given a second chance, would make the same decision. The question about whether a client should testify
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Ebbers Found Guilty
After deliberating over eight days, the jury found Bernie Ebbers guilty on all counts this afternoon. Ebbers was charged with conspiracy, securities fraud, and seven counts of false filings with the SEC. Judge Barbara Jones set sentencing for June 13. Because everyone looks ahead to the next step, two things that will be discussed are
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2-for-1 Lunch Offer Includes Ticket to Florida
Frederick Gilliland was a fugitive living in Vancouver, BC, while fighting extradition back to the U.S. to face charges related to a ponzi scheme in which investors lost over $8 million. Gilliland responded to a 2-for-1 lunch offer at a restaurant in Point. Roberts, Wash., right over the border from Vancouver. Unfortunately for Gilliland, his
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John M. Olin Fellowships
The John M. Olin Fellows in Law program has a deadline of March 15 for applications for the three fellowships offered for aspiring academics. The website for the program (here) has the following description: The John M. Olin Fellows in Law program will offer top young legal thinkers the opportunity to spend a year writing
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Top Five Internet Scams
PCWorld Magazine (story here) has a list of the Top 5 Online Scams: Auction Fraud Phishing Scams Nigerian 419 Letters Postal Forwarding/Reshipping "Congratulations, You’ve Won a . . . " [Xbox, iPod, etc.] The number of criminal charges filed for fake Ebay auctions is growing at an alarming pace, and while it is hard to
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Waiting on Immunity
The jostling between the baseball players subpoenaed to testify and the House Government Reform Committee over whether they will appear is coming to a head. Jason Giambi, Frank Thomas, and Rafael Palmeiro have asked the Committee to withdraw the subpoenas, and they would most likely assert the Fifth Amendment if there is not a grant
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