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Civil Settlement with Waksal
CNN (Reuters) reports that "[f]ormer ImClone Systems CEO Sam Waksal has agreed to pay a $3 million civil penalty to settle charges over the insider trading case that also involved lifestyle entrepreneur Martha Stewart." The SEC Release in the case states that "[p]ursuant to this settlement, which is subject to the Court’s approval, Sam Waksal
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White Collar Sentencing Post- Booker
Everyone has been awaiting decisions post-Booker in hopes of finding some answers to questions that might be hanging in the wake of this new decision. Professor Doug Berman provides thoughtful analysis in his posts of Judge Cassell’s reasoning issued in the first post-Booker sentencing case and now again in Judge Adelman’s decision in the Ranum
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The Venue of the Trial of Enron Executives
The question here is not a situation of the case being filed in an improper venue. Rather, the issue before the court was whether the defendants can receive a fair trial in the proper venue. According to Reuters (via CNN), if Ken Lay and Jeffrey Skilling go to trial, the case will be heard in
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Defending Cendant’s CEO
With the trials of former CEOs Bernie Ebbers, Richard Scrushy, and Dennis Kozlowski just getting under way, and the trial of Enron’s two former CEOs (Ken Lay and Jeffrey Skilling) around the corner, corporate chieftains are certainly in the spotlight in criminal prosecutions. An interesting article from the New Jersey Law Journal (available on Law.Com)
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Cross-Examining Scott Sullivan About Marital Infidelity in Ebbers Trial
According to an AP story (Jan. 18), U.S. District Judge Barbara Jones, who is presiding over the Bernie Ebbers trial, rejected a government motion to prohibit Ebbers’ counsel from cross-examining former WorldCom CFO about instances of marital infidelity. The story reports: "U.S. District Judge Barbara Jones said the line of questioning was permissible because it
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Who Did Richard Hatch Think He Was Fooling?
The CBS Morning News reported on the plea agreement of Richard Hatch, the winner on the first season of Survivor, for failing to report the $1 million he earned on the show’s first season (along with another $321,000 paid by a Boston radio station). Survivor is a CBS program, and its next season starts on
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One Born Every Minute
The U.S. Attorney’s Office in Los Angeles announced on Jan. 18 that four more defendants (the total is now seven) agreed to plead guilty to fraud charges as part of a ponzi scheme involving claims about Italian royalty. According the the press release issued by the USAO: From late 1996 until the Ponzi scheme collapsed
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Survivor Winner Richard Hatch Charged With Tax Evasion
An AP story (Jan. 18) discusses the criminal information filed in Rhode Island charging Richard Hatch, the winner of $1 million on the first "Survivor" series, with tax evasion for failing to report that money and an additional $321,000 he received from Boston radio station WQSX for work as a co-host on a program (criminal
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Oil-for-Food Charges
An AP story (Jan. 18) reports that Samir A. Vincent has been charged by criminal information in the Southern District of New York for his role in accepting secret commissions from the Iraqi government under Saddam Hussein to arrange transactions in the United Nations’ oil-for-food program. According to the story, "The charges were the first
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The Effect of White Collar Prosecutions
An article in the Christian Science Monitor (Jan. 18) posits that the run of criminal trials involving CEOs, including Dennis Kozlowski, Martha Stewart, and the Rigas family, has had an effect on how business leaders view their jobs and the legal system. The article describes what it calls the "Enron Effect": Experts say the trials
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