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Enron Barge Trial
A story in the Houston Chronicle (Nov. 6) discusses the sentencing phase of the Enron/Merrill Lynch barge trial. A key Issue being argued to the jury is the amount of the loss caused by the barge deal, which the government pegs at $43.8 million and a defense expert estimated at $120,000. The disparity shows once
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Corporate Misbehavior Conference
On Friday, November 12, 2004, the Brooklyn Law School Center for the Study of Law, Language and Cognition will host a conference entitled: Corporate Misbehavior by Elite Decision-Makers–Perspectives from Law and Social Psychology. The Conference description states: The conference will explore ways in which corporate misconduct and scandals result not from the presence of a
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Investigations May Mean Dismissing of Executives
It is becoming more common for companies to dismiss individuals who may be subjects of investigations. The NYTImes reports today that Ace, Ltd., "subject of the New York attorney general’s investigation into bid-rigging and price-fixing in the insurance industry" is dismissing two executives. The NYTimes also notes that Marsh & McLennan "dismissed four executives who
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Ashcroft Going?
Will John Ashcroft be leaving the Attorney General’s position? According to AP wires Ashcroft aides say he will be leaving before President Bush starts his next term. What effect might this have on the prosecution of white collar crime? Will the Thompson Memo continue? Will respect for the attorney-client privilege take a different course? (Yes,
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Five Convicted and One Acquitted in the First Criminal Trial Related to Enron
Five defendants (four former executives of Merrill Lynch and one fomer executive in Enron’s finance division) were convicted yesterday after a six week trial in the first Enron related criminal case. The New York Times reports that "the case – centered on a single transaction involving what the government argued was a bogus sale of
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The Latest on Martha Stewart
Attorneys for Martha Stewart filed the Brief.pdf in the Second Circuit, to appeal her conviction. Four issues are presented: I. Whether, after a trial pervaded by allegations that Stewart had committed the uncharged crime of insider trading, the District Court erred by: (1) refusing to instruct the jury that it could not convict Stewart of
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Federal Corruption Prosecutions Article
A very interesting article by Associate Dean and Professor George D. Brown (Boston College) will appear in the Catholic University Law Review entitled Carte Blanche: Federal Prosecution of State and Local Officials After Sabri. Professor Brown is the leading authority on the federal corruption statutes, and has published a number of articles questioning the scope
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DaimlerChrysler FCPA Investigation
A report in the Detroit Free Press discusses an SEC investigation of possible violations of the Foreign Corrupt Practices Act by DaimlerChrysler AG (DCX) (Suit Says Secret Accounts at DCX Used for Bribes, Sarah A. Webster, Oct. 29, 2004). The investigation was triggered by a whistleblower lawsuit filed in U.S District Court (E.D. Mich.) by
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Marsh & McLennan Complaint
In response to a comment posted by Leigh Bienen regarding the specific statutes for Eliot Spitzer’s action against Marsh & McLennan, here is a link to the complaint. The specific provisions of New York law are Executive Law §63(12) for fraud and the Donnelly Act (Gen. Bus. Law §340 et seq.) for antitrust. The Donelly
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Market Manipulation Trial
The conspiracy trial of Amr (Anthony) Elgindy, who ran a well-known website for short sellers, and Jeffrey A. Royer, a former FBI agent, began in U.S. District Court in Brooklyn yesterday. The indictment in the case describes a scheme that included Royer leaking confidential information about government investigations of corporate misconduct to Elgindy so that
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