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Criminal Prosecutions Apparently Not Prohibited By Historic Mortgage Settlement Agreement
From the Department of Justice Press Release: "The agreement resolves certain violations of civil law based on mortgage loan servicing activities. The agreement does not prevent state and federal authorities from pursuing criminal enforcement actions related to this or other conduct by the servicers. The agreement does not prevent the government from punishing wrongful securitization
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Deal on “Robosigning”
CNN Reports -Chris Isidore and Jennifer Liberto, "Mortgage deal could bring billions in relief" See Solomon Wisenberg's post here for background. Commentary to follow. (esp)
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The Schuelke Report: Public On March 15, 2012
Here is Judge Emmet Sullivan's Memorandum Opinion ordering unredacted release of Hank Schuelke's Report on prosecutorial misconduct in the Ted Stevens prosecution. Any comments or objections to the report by the attorneys involved are due by March 8 and will be published along with the Report. (wisenberg)
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Night Wrap: Global Federal/State Deal Near On Robosigning Fraud
The New York Times has the story here. The official announcement may come as early as tomorrow. As always, the devil will be in the details. Here is the $64,000.00 question. What if any limitation of liability for past criminal acts will the banks obtain through this agreement? If there is any limitation on the ability of federal
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In the News & Around the Blogosphere
Joelle Scott, Forbes, Bharara's Wiretaps: The Latest Insider Trading Charges Mike Scarcella, BLT Blog, Federal Appeals Court Upholds Abramoff Associate's Plea Deal (w/ a hat tip to Ivan Dominguez) DOJ Press Release, Four Individuals and Three Corporations Convicted for Roles in Wire Fraud Conspiracy at New York Presbyterian Hospital. BLoomberg, Rajat Gupta May Face More Charges,
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Mismarking CDO Case Not Earth-Shattering
Last week, after President Obama announced a purportedly new initiative, see here and here, to combat fraud, government law enforcement officials, criticized for their lack of activity, promised action in the very near future. It is not clear whether the indictment returned Wednesday in the Southern District of New York for crimes committed four years
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In the News & Around the Blogosphere
Kaye Scholer, White-Collar Litigation Partner Amy Conway-Hatcher Joins Kaye Scholer’s D.C. Office Mike Scarcella, law.com, Two auto parts companies to pay $548M in antitrust prosecution Mike Scarcella, BLT Blog, Jury Acquits Two Businessmen In FCPA Sting Case Washington Post (AP), Fresh NY indictment boosts insider trading charges against Ex-Goldman Sachs board member DOJ Press Release,
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New Financial Unit Raises Questions
Virtually every presidential State of the Union speech, or its gubernatorial equivalent, calls for tougher criminal laws and/or new investigative resources. President Obama's address last week was no exception. The President called for the establishment of a new unit "to crack down on large scale fraud and protect people's investments." As blog editor Ellen S.
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Amicus Brief Filed in Brown Case – Discovery Issue
Previously discussed here, was the cert petition filled in James A. Brown v. United States (11-783),a case that raises interesting questions regarding Brady. As noted, Brown, is a former Merrill Lynch executive who "was convicted of perjury and obstruction of justice for his testimony before the Enron grand jury about a transaction between Merrill and
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New Scholarship – Revisiting a Foreign Corrupt Practices Act Compliance Defense
Mike Koehler has a forthcoming article in the Wisconsin Law Review, titled, "Revisiting a Foreign Corrupt Practices Act Compliance Defense." The abstract states: Abstract: This article asserts that the current FCPA enforcement environment does not adequately recognize a company’s good faith commitment to FCPA compliance and does not provide good corporate citizens a sufficient return
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