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'Moral' Obligation to Adult Child Found No Bar to Restitution
In this age of corporate greed, the courts are faced with many new issues surrounding restitution. The appeal of Bernard Jaffe Jr. gave the Second U.S. Circuit Court of Appeals its first opportunity to define the term “dependent” under the Mandatory Victims Restitution Act of 1996, which requires district courts to order restitution to compensate victims for their losses “without consideration of the economic circumstances of the defendant.”
In August, the Second Circuit ruled that a father's “moral” obligation to support his adult child should not be considered in computing the amount of restitution he owes for a crime. Upholding an order of restitution for a former New York executive convicted of making false statements to the Bank of New York to secure loans for his own stock-trading, the circuit found that adult children do not have the same status as spousal dependents. United States v. Jaffe, Docket No. 04-1278. Aug. 2, 2005.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.