The indictment against your client reads in relevant part as follows: "In or about and between January 2019 and February 2020, the defendants, JOHN DOE and JANE DOE, co-owners of Acme Technology Co., made materially false and misleading statements and omissions to investors regarding, among other things, (i) the current and future revenues of Acme; (ii) the sales forecasts for Acme's main product; (iii) the amount of debt on Acme's balance sheet; and (iv) the executive compensation owed to the defendants."
The Importance of 'Particulars' in Criminal Fraud Cases
This article discusses the standard for ordering a bill of particulars in the Second Circuit, drawing a comparison with the standard for civil fraud claims, and then describes a recent decision ordering a bill of particulars in the high-profile prosecution growing out of the Theranos blood-testing scandal. The decision in that case highlights the importance of seeking bills of particulars in fraud cases.
By
Elkan Abramowitz and Jonathan Sack
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