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In a November 2018 decision, the U.S. Court of Appeals for the Eighth Circuit held that “… Ponzi scheme payments to satisfy legitimate antecedent debts to defendant banks could not be avoided” by a bankruptcy trustee “absent transaction-specific proof of actual intent to defraud or the statutory elements of constructive fraud — transfer by an insolvent debtor who did not receive reasonably equivalent value in exchange.” Stoebner v. Opportunity Finance, LLC, 2018 WL 6055636 4 (8th Cir. Nov. 20, 2018), citing Finn v. Alliance Bank, 860 N.W. 2d 638, 653-56 (Minn. 2015).
By Joseph F. Savage, Jr. and Marielle Sanchez
Elections have consequences, and the election of President Trump has resulted in a significant shift in law enforcement priorities. Corporate enforcement activity is at lows not seen in decades, despite an overall increase in federal criminal cases. This is a product of a change in priorities, both in terms of types of offenses and types of offender. So, for the time being, there will be almost unprecedented opportunity to achieve favorable resolutions for corporate clients.
By Harry Sandick and Danielle Quinn
A defendant who pleads guilty is usually required to waive a host of constitutional and statutory rights, such as the right to a jury trial, the right to confront and cross-examine adverse witnesses, the right to testify and present evidence. However, many defendants are also required to waive their right to appeal in order to receive a favorable plea agreement with the government.
By Robert J. Anello and Kostya Lantsman
Business has gone global. So too has business-related crime. In the interconnected business environment, white-collar criminal investigations and prosecutions frequently present cross-border issues and affect U.S. foreign relations. Indeed, in some recent high-profile cases, the Trump administration has implied that it sees law enforcement — or the lack of it — as one of the tools in its foreign policy arsenal.
By Surya Kundu
Seventh Circuit Distinguishes Between Truth and Truthiness