Sullivan & Cromwell pressured me to file for FTX bankruptcy, crypto exchange’s founder says

Indicted cryptocurrency exchange FTX founder Samuel Bankman-Fried is accusing Sullivan & Cromwell of pressuring him to seek bankruptcy protection for his company and filing documents nominating a new CEO after he tried to withdraw permission.

Dec 15, 2022 1:01 PM CST

Judge orders Trump to appoint independent monitor in New York attorney general’s $250M fraud case

The Trump Organization was ordered by a New York judge to appoint an independent monitor, a win for the New York attorney general in her $250 million fraud lawsuit against former President Donald Trump, his companies and his officers.

Nov 7, 2022 8:58 AM CST

Lawyer is acquitted on tax and wire-fraud charges for wiring $6.5M in client funds to Swiss bank account

Federal jurors acquitted an Oakland County, Michigan, lawyer Tuesday who had been accused of wiring $6.5 million in client money to his Swiss bank account. Jurors acquitted tax lawyer Jeffrey Freeman of Birmingham, Michigan, on charges of tax evasion and wire fraud.

Oct 26, 2022 1:53 PM CDT

Barrett denies emergency request to halt student-loan forgiveness program; federal judge tosses different suit

Court challenges to President Joe Biden’s student-debt relief program encountered two roadblocks Thursday.

Oct 21, 2022 9:53 AM CDT

Funding structure for consumer agency violates separation of powers, 5th Circuit says

A federal appeals court has ruled that the funding structure for the Consumer Financial Protection Bureau is unconstitutional because it is funded by the Federal Reserve System, rather than Congress.

Oct 21, 2022 8:59 AM CDT

Ex-lawyer who argued football head injuries made him unable to form fraud intent loses in 6th Circuit

A federal appeals court has affirmed the conviction of a disbarred lawyer who argued that football head injuries made him unable to form an intent to defraud his bank.

Oct 20, 2022 1:14 PM CDT

Trump inflated net worth by billions to get favorable loans, obtaining $250M in benefits, NY attorney general says

Former President Donald Trump obtained hundreds of millions of dollars in real estate loans and favorable insurance coverage based on financial statements that inflated his net worth by billions of dollars, according to a lawsuit filed Wednesday by the New York attorney general.

Sep 21, 2022 12:49 PM CDT

Litigation lenders bankrolled Tom Girardi despite his apparent ‘proclivities’ for stealing from clients, suit says

Sep 6, 2022 4:15 PM CDT

Class action suit over gender bias at Goldman Sachs slated for 2023 trial

Despite Goldman Sachs’ attempt to avoid a 12-year-old gender bias class action lawsuit, a federal judge said Monday the case will head to trial next June.

Aug 23, 2022 10:31 AM CDT

Lawyers can hold cryptocurrency in escrow for clients, with safeguards, state ethics opinion says

Lawyers may hold cryptocurrency in escrow for clients, but they must have technical competence and safeguard against losses, according to an Ohio ethics opinion.

Aug 12, 2022 9:13 AM CDT

Wells Fargo didn’t have contractual duty to catch scam check that cost law firm nearly $200K, judge rules

A scammed law firm that wired nearly $200,000 to a Nigerian bank can’t recover the money from Wells Fargo, a federal judge in Pennsylvania has ruled.

Jul 21, 2022 3:27 PM CDT

Once-prominent disbarred lawyer sues bank for allegedly failing to stop his employee’s embezzlement

A once-prominent lawyer in Washington, D.C., has sued PNC Bank for allegedly ignoring “red flags and serious irregularities” that allowed an employee to embezzle money from him.

Apr 13, 2022 2:18 PM CDT

5th Circuit tosses federal judge from sixth case after he ‘candidly revealed’ disdain for antitrust law

A federal appeals court has revived an antitrust lawsuit against Visa and removed the judge who was hearing the case after his “gratuitous comments” suggested “ingrained skepticism” about the plaintiff’s claims.

Apr 7, 2022 11:59 AM CDT

Virtual Reality: From development to investment, this cryptocurrency lawyer is all in

The metaverse may be a virtual realm, but lawyer Amy Madison Luo is doing very real work there—and achieving very real success. As a new partner at DIGITAL, a billionaire-backed venture firm, she invests in metaverse-focused blockchain companies, from applications to infrastructure. But she’s been working full time in this space since 2018, when she left BigLaw to follow her passion for a new kind of currency.

Apr 1, 2022 1:30 AM CDT

Did lawyers for Barclays cause $600M error?

Barclays, a British bank, estimates that it will suffer a loss of nearly $600 million after it issued securities that exceeded the amount registered in the United States by about $15 billion.

Mar 30, 2022 3:36 PM CDT