‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInHolmes Prosecutors Say Texts Show Theranos Beset With Problems – Bloomberg
Prosecutors say Holmes’ and Balwani’s messages about the approval process will offer jurors a look back in time, revealing their intent to deceive investors -– an element the government must prove to win convictions. The messages were collected by securities regulators in a related civil case — though many remain sealed in court filings. “The […]
Getting Away With Murder | by Jed S. Rakoff | The New York Review of Books
Criminal law and its enforcement are notoriously hypocritical. It is bad enough that, as Anatole France wrote in 1894, “the law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, beg in the streets, and steal loaves of bread.” But now, more than a century later, even the […]
Libor Trader Tom Hayes to Be Released From Jail in January – SWI swissinfo.ch
Tom Hayes, the former UBS Group AG and Citigroup Inc. trader convicted of rigging Libor, will be released from prison in January after more than five years. Hayes was the highest-profile conviction in the Libor-fixing scandal. He was found guilty by a London jury in 2015, and is being released after serving about half of […]
Former congressman Chris Collins begins prison term | Top Story | thedailynewsonline.com
FPC Pensacola is a federal prison camp about a nine-hour drive from Collins’ home in Marco Island, Fla., where former House of Representatives Speaker John A. Boehner is among Collins’ neighbors. Boehner wrote a letter of support on behalf of his former colleague to Judge Vernon S. Broderick. “In the absence of a decision on […]
Prosecutor: ‘It is time for Collins to begin his prison sentence’ | Local News | buffalonews.com
Former Rep. Chris Collins wants his 26-month prison sentence converted to home confinement, but the top government prosecutor in the case is saying, in essence, lock him up – and right away.” The public has an interest in seeing justice done in this case without further delay,” wrote Audrey Strauss, the acting U.S. attorney for the […]
Fraud Prevention CEO Is Charged With Fraud for Fake Sales (1)
The founder of cyberfraud prevention company NS8 Inc. was accused by federal prosecutors of raising more than $100 million for the firm by misleading investors about the state of its finances. NS8 said it is cooperating with investigators and has learned that the founder and former chief executive officer, Adam Rogas, “fabricated” much of its […]
Innocent Madoff investors must pay back profits, court rules
Investors who profited from Bernard Madoff’s massive Ponzi scheme even though they knew nothing of it must still pay back their profits, an appeals court decided Thursday. The 2nd U.S. Circuit Court of Appeals in Manhattan upheld lower-court decisions in cases filed by Irving Picard, a court-appointed trustee who has recovered money for cheated investors […]
San Francisco US Attorney Names No. 2, Launches Securities Fraud Section | The Recorder
The U.S. Attorney’s Office for the Northern District of California has appointed a second in command and launched a new section to expedite the prosecution of white-collar cases. The changes come about a year and a half after U.S. Attorney David Anderson created a corporate fraud strike force with a similar goal to speed up […]
How a Prior DOJ Settlement Doomed a SEC Enforcement Action: A Volkswagen Case Study | Mintz
It is not uncommon for various government agencies and offices to investigate the same company, particularly following a major scandal. We have grown accustomed to seeing simultaneous investigations by the U.S. Department of Justice (“DOJ”) and the U.S. Securities Exchange Commission (“SEC”), sometimes followed by indictments and complaints from both. When the SEC and DOJ […]
Theranos founder Elizabeth Holmes to undergo psychological evaluation – NZ Herald
In December last year, Holmes’ lawyers informed the court they intended to argue a case of mental impairment, with plans to cite “expert evidence relating to a mental disease or defect or any other mental condition”. The expert they wanted to bring to court was named in court documents obtained by Ars Technica as California […]