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Sarbanes Oxley – So What? Let Me Tell You!
Has Sarbanes-Oxley changed the landscape in the white collar area? Passed in 2002, it requires accounting procedures that are intended to reduce fraud. We spoke of some of its ramifications, for example in the post titled "Penthouse Execs Accused of Accounting & Sarbanes-Oxley Violations" and more recently we see it as playing a part in
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Owens Completes Fourth Day on Witness Stand at Scrushy Trial
Former HealthSouth CFO Bill Owens has now spent four days on the witness stand describing the construction and operation of the accounting fraud at the company. His testimony on Friday, Feb. 4, supplied a motive for Scrushy’s involvement in the inflation of revenues: selling his shares. Scrushy appeared on CNBC in 2002 touting the HealthSouth
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DC Circuit Rejects Government Disgorgement Claim Against Tobacco Companies
The D.C. Circuit issued an opinion on Feb. 4 (here) rejecting the government’s disgorgement claim under RICO against the leading tobacco companies (U.S. v. Philip Morris USA et al.). The court’s 2-1 decision reverses the district court, which had permitted the government’s claim to go forward in seeking disgorgement of $280 billion (which would be
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Plea in AntiSpam Law Case
In our post of December 22, 2004 we told of the refusal "to accept a plea agreement involving a former AOL employee who sold e-mail addresses in violation of the recently enacted Can-Spam law." But things seem to have changed. The Wall Street Journal has an article here telling about the judge’s decision to now
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Across the Country
The big east coast and deep south white collar cases (Ebbers, Kozlowski, and Scrushy) continued yesterday, all still in the prosecution portion of the case. And it looks like the prosecution has quite a bit more to present in these three cases. For an update on specific testimony presented, check out the "CEO Blotter, Corporate
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Scrushy Trial Excitement- Rolling Admissions
It sounds like a rolling admission process, only the recipients have not applied to enter the group and would only wish they could decline acceptance into the indicted club. The United States Attorneys Office for the Northern District of Alabama indicted James P. Bennett – and yes, right in the middle of Richard Scrushy’s trial.
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Sports Conviction-Should this be RICO?
Logan Young Jr., an investment banker, was convicted of paying a high school football coach, Lynn Lang, in order to recruit a star player to the Alabama team. Find out more here, here, here (subscription required), The case proceeds into the forfeiture portion of the trial today. We previously reported on this case here. Why
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Comey’s Sentencing Memo & White Collar Crime
As noted in our last post and in Professor Doug Berman’s superb sentencing blog, it looks like the AUSAs and USAs throughout the country have received their guidance from main justice on how to proceed on sentencing matters. And the tone and language certainly will raise some eyebrows. As noted by Professor Berman, In particular,
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DOJ’s Response to Booker: More Reporting on Judges
Doug Berman on Sentencing Law & Policy mentions the "buzz" about a Department of Justice memo on sentencing after Booker (post here), and an article in the Wall Street Journal (here) confirms the memo as issued by James Comey, the Deputy Attorney General. [Doug is quoted in the article] The memo states that prosecutors should
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Scrushy’s Parade of Attorneys
A lengthy front-page article in the Wall Street Journal (here) discusses the various attorneys who have represented Richard Scrushy since problems began at HealthSouth in mid-2002, including a dispute over billing with the Jones Day firm that has triggered an ethics complaint against the firm with the Washington, D.C. bar authorities. (ph)
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