In 2016, the SEC charged Charles Liu and Xin Wang with defrauding Chinese investors in a project that the couple falsely claimed met the requirements of the EB-5 Investment Program, which is subject to federal securities laws. Fifty investors paid ne…
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In March 2021, the Second Court of Appeals upheld the conviction of a Queens, New York immigration disbarred lawyer who was charged with falsifying asylum applications. However, an appellate judge’s concurring opinion questioned whether prosecutors…
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On March 2, 2021, the New York Attorney General announced a $105 million settlement against a New York City hedge fund manager and his firm for alleged tax evasion. The claim was filed by a whistleblower client under the New York False Claims Act and…
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In March, software innovator John McAfee and his bodyguard, a decorated former-Navy Seal named Jimmy Gale Watson, Jr., pled Not Guilty to federal criminal charges in New York federal court. The pair face charges of fraud, conspiracy, and money launde…
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Van Buren v. United States was the Supreme Court’s first opinion interpreting the Computer Fraud and Abuse Act (CFAA) of 1986. Originally drafted as an anti-hacking statute, the Act prohibits people from accessing computers or computer systems “w…
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Jonathan Nora was convicted of conspiracy to commit healthcare fraud, conspiracy to pay or receive illegal healthcare kickbacks, and aiding and abetting healthcare fraud. He appealed to the Fifth Circuit Court of Appeals, claiming his convictions wer…
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In the March 2021 decision of United States v. O’Brien, the Second Circuit Court of Appeals ruled that Manhattan prosecutors could garnish the wages of a former partner at Sullivan & Cromwell who made no restitution payment after a 2011 convict…
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In March of 2019, the U.S. Supreme Court decided Lorenzo v. SEC, deciding that someone who is not a “maker” of a false statement can nonetheless be held liable under Rule 10(b) of the Exchange Act for knowingly disseminating a misstatement made b…
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A federal grand jury has enormous power. Composed of 23 people, a federal grand jury usually sits for a term of 18 months and meets regularly to review evidence presented by a federal prosecutor. Ultimately, a grand jury will determine whether there…
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In the January 2021 decision of United States v. Gatto, the Second Circuit Court of Appeals upheld the convictions of three men who were found guilty of fraud for funneling secret payments from Adidas to the families of top college basketball recruit…
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