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Corporate crime concept

DOJ Changes Federal Corporate Crime Policies, Leading to Increased Enforcement Actions

In October, the U.S. Department of Justice (DOJ) announced a roll-back of a series of Trump administration policies that Biden administration officials say were too lenient toward corporate crimes. Deputy Attorney General Lisa Monaco outlined a set o… Read More
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securities fraud

Second Circuit Affirms Dismissal of Securities Fraud Claims

In March 2021, the Second Circuit Court of Appeals clarified its application of Morrison v. National Australia Bank Ltd., a 2010 Supreme Court case that limited the application of Section 10(b) of the Securities Exchange Act to “transactions in sec… Read More
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Categories: Fraud
tax fraud jail time

Criminal Penalties for Income Tax Fraud

A person who is charged with federal income tax fraud may face both civil and criminal penalties. The severity of the penalties will vary based on the nature and extent of the fraud. Criminal penalties for federal income tax fraud can result in subst… Read More
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Categories: Fraud
Third Circuit Decision Re…

Third Circuit Decision Reverses Wilmington Bank Fraud Conviction

In June 2021, the Third Circuit Federal Court of Appeals denied the prosecution’s request for rehearing on a case that reversed the convictions of four Wilmington Trust Corp. executives. The decision leaves in place a unanimous panel decision that… Read More
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Categories: Fraud
federal agents

What Happens if Federal Agents Show Up at Your Door?

It’s 6 a.m., and you wake to someone pounding at your door. You stumble out of bed. Answer the door. And you cannot believe your eyes. Two federal agents are on your front stoop, showing their badges and asking to come inside. You are sleepy, disor… Read More
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conspiracy to commit bank fraud

US v. Weigand: Bank Fraud Conspiracy Scheme

Defense Attorneys Seek Downward Departure from Federal Sentencing Guidelines Defendant Ruben Weigand was charged with conspiracy to commit bank fraud in violation of 18 U.S.C. §1349. He was charged with participating in a scheme to trick banks into… Read More
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Categories: Fraud
ppp fraud

Prosecution Rising in Coronavirus Relief Fraud Cases

It has been over a year since Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which authorized forgivable small business loans through the Payroll Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) p… Read More
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Categories: Fraud
crypto tax

Tax Evasion Issues Arising as Bitcoin and Other Cryptocurrencies Grow in Popularity

The increasing popularity of cryptocurrencies like Bitcoin and Ethereum has prompted the IRS, Department of Justice (DOJ), and other government agencies to aggressively investigate and prosecute people who use digital assets to commit crypto tax frau… Read More
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Categories: Fraud
Disgorgement of profits

Liu Limits SEC's Ability to Seek Disgorgement in Federal Securities Cases

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… Read More
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Categories: Securities
disbarred lawyer

Second Circuit Judge Questions Fairness of Multi-Count Indictment Against Disbarred Attorney

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… Read More
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