White Collar Crime

Rezko Defense Rests Without Calling Any Witnesses

Jurors in the corruption trial of political fundraiser Antoin ”Tony” Rezko could get the case for deliberations as early as next week. Prosecutors in Chicago wrapped up their case today after nine weeks of testimony, and Rezko’s lawyer did not call any witnesses, the Chicago Tribune reports. U.S. District Judge…

May 5, 2008 5:15 PM CDT

Feds Rev Up National Mortgage Fraud & Securities Probe

Federal prosecutors in at least five major cities throughout the country are reving up for a more expansive investigation of possible widespread fraudulent practices by mortgage lenders and investment banks. Prosecutors in Atlanta, Dallas, Los Angeles, New York and Philadelphia, with the help of the FBI and the criminal division…

May 5, 2008 4:11 PM CDT

House Leader Seeks Probe of Plaintiffs Firms’ Class Action Kickbacks

Updated: The Republican leader of the U.S. House of Representatives is asking the House Judiciary Committee to launch an investigation into whether it is common practice, as a convicted attorney has claimed, for plaintiffs firms to pay kickbacks to lead plaintiffs in class actions. Rep. John Boehner expects to send…

May 2, 2008 6:15 PM CDT

Thirty-Four

The number of corporate deferred and nonprosecution agreements in 2007. That’s a 70 percent increase over 2006, when only 20 such agreements were entered into between the targeted corporations and the Department of Justice. These pretrial agreements are the standard way to settle major corporate criminal investigations, according to a…

May 1, 2008 1:00 PM CDT

Former COO of Monster is Charged With Backdating Violations

The former president and chief operating officer of Monster Worldwide has been charged with securities fraud and conspiracy for alleged backdating violations. The indictment claims the executive, James Treacy, conspired to backdate stock options and personally benefited from backdating, the Wall Street Journal reports (sub. req.). His lawyer, Evan Barr,…

May 1, 2008 12:22 PM CDT

E-Mails Show More Abramoff Links to Ex-DOJ Staffers; Probe Continues

Sources tell Legal Times that last week’s guilty plea by a former Justice Department official doesn’t end the investigation of DOJ ties to disgraced lobbyist Jack Abramoff. Robert Coughlin, a former member of the Justice Department’s Office of Legislative Affairs, pleaded guilty last Tuesday to accepting thousands of dollars worth…

Apr 28, 2008 11:55 AM CDT

Rezko Trial Bombshell Claim: GOP Top Guns Tried to Oust US Attorney

Republican heavyweights allegedly tried to use their influence with the White House to get U.S. Attorney Patrick Fitzgerald removed from office as he was pursuing a politically charged case against a Chicago real estate developer, according to a prosecutor in the ongoing Illinois federal case. “In a bombshell disclosure before…

Apr 23, 2008 7:15 PM CDT

Ex-DOJ Official With Abramoff Ties Pleads Guilty

A former Justice Department higher-up, Robert E. Coughlin II, pleaded guilty Tuesday to accepting thousands of dollars worth of meals and tickets from disgraces lobbyist Jack Abramoff in exchange for helping Abramoff’s clients. Coughlin, who was charged Monday, is the latest of more than a dozen public officials, lobbyists and…

Apr 23, 2008 1:47 PM CDT

DOJ’s Abramoff Probe Ensares One of Its Own

A former Justice Department official is among those ensnared by a DOJ corruption probe into the activities of convicted lobbyist Jack Abramoff. Robert E. Coughlin II, who served in the DOJ’s legislative affairs office from 2001 to 2003, was charged Monday in federal court with violating federal conflict-of-interest laws, the…

Apr 22, 2008 1:01 PM CDT

Fieger’s Dream Team Debuts This Week

The big-name plaintiffs lawyer Jeffry Fieger has called in a couple of other recognizable legal eagles to help defend himself against allegations that he and a partner illegally contributed $127,000 to Democrat John Edwards’ failed 2004 presidential campaign. Representing Fieger will be celebrated Wyoming criminal lawyer Gerry Spence, whose website…

Apr 21, 2008 2:23 PM CDT

FBI Expects Massive Rise in Mortgage Fraud Cases

The FBI is dealing with a deluge of new mortgage fraud cases in a real estate meltdown of unprecedented scope. At a Senate hearing earlier this week, Robert Mueller, the agency’s director, noted that the FBI now has more than 1,300 mortgage fraud investigations underway, reports the Associated Press. A…

Apr 18, 2008 7:04 PM CDT

Milberg Forfeitures Total $32M So Far, Well Below the $251M Target

Prosecutors claim Milberg Weiss and its lawyers pocketed $251 million in attorney fees that were tainted by kickbacks paid to lead plaintiffs in securities cases. But so far the government has recovered only $32 million in plea deals with nine defendants. Recoveries in forfeiture cases may be lower than targeted…

Apr 18, 2008 12:06 PM CDT

N.Y. Attorney General Probes Marketing of Auction-Rate Securities

New York Attorney General Andrew Cuomo has subpoenaed information from 18 financial institutions about their sale and marketing of auction-rate securities. Cuomo wants to know what the Wall Street firms told consumers who bought the securities about the safety and liquidity of the investments, the Wall Street Journal reports. He…

Apr 18, 2008 11:28 AM CDT

Firm Harmed By Bribery Scandal Will Recoup Damages

The fallout from revelations that the one-time King of Torts was involved in a judicial bribery scandal continues this week with news that a Jackson, Miss., law firm is entitled to fees and possibly punitive damages because it was harmed by the actions of Richard “Dickie” Scruggs. A state court…

Apr 16, 2008 7:46 PM CDT

Greenberg Traurig Settles Guam Case Over Jack Abramoff Matter

An indictment in Guam against Greenberg Traurig that arose from alleged misconduct by the law firm’s former lobbyist, Jack Abramoff, has been resolved with a civil settlement and dismissed. “We are pleased to announce that the Superior Court in Guam dismissed all charges against the firm today,” writes a firm…

Apr 14, 2008 5:46 PM CDT