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Major Embezzlements
Embezzlements are rarely large enough to cause major concern to in-house counsel, directors, officers and other members of management. But under at least four scenarios, embezzlements can threaten an entity's ability to execute its overall strategy. For example, in April 2011, regulators in one Asian country prohibited a financial services company from accepting new clients in a segment of its business where a large embezzlement had occurred. The regulator determined that the company had not implemented certain required internal controls to reduce the risk of embezzlement. In another country in Asia, foreign banks face revised regulations governing the ability to expand, following regulators' investigation of another major embezzlement. We discuss below ten actions entities can take to help mitigate the risk of major embezzlements.
Four Scenarios
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.