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In the Courts
Second Circuit Upholds Admissibility of Wiretap Evidence in Securities Fraud Convictions
On July 1, 2013, the Second Circuit upheld the convictions of Zvi Goffer, Michael Kimelman and Craig Drimal for conspiracy to commit securities fraud under 18 U.S.C. ' 371 and securities fraud in violation of 15 U.S.C. ” 78j(b) and (ff), despite the defendants' challenge to the Southern District of New York's admission of wiretap evidence at trial. United States v. Goffer, No. 11-3591, 2013 WL 3285115, at *1, 13 (2nd Cir. July 1, 2013). On appeal, the defendants argued that the admission of wiretap evidence was unlawful because securities fraud is not a predicate offense to obtain wiretap authorization under Title III of the Omnibus Crime Control and Safe Streets Act of 1968, 18 U.S.C. ' 2510. Id. at *4. Additionally, they asserted that because the evidence obtained through the wiretaps was not intercepted inadvertently to an otherwise lawful wiretap, it should have been excluded. Id. The Second Circuit rejected both arguments. Id.
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.
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.
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.