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Second Circuit 'Connolly' Ruling Shows Limits of Mail and Wire Fraud Statutes
Since about 2011, the Department of Justice has devoted considerable effort to investigate and prosecute alleged manipulation of the London Inter-Bank Offer Rate (LIBOR). LIBOR is an interest rate benchmark that is so embedded in the global financial system that, despite much criticism, and even during DOJ's investigations and prosecutions, LIBOR has continued to be used by institutional borrowers and lenders, and will not be phased out fully until June 2023.
DOJ's efforts have led to civil and criminal charges against global banks, resulting in the payment of approximately $8.5 billion in fines and penalties, and the prosecution of over 20 individuals in the United States and the UK, including Matthew Connolly and Gavin Black of Deutsche Bank AG (DB). Connolly and Black pled not guilty and were convicted at trial in 2018. Despite being critical of the government's handling of the investigation, the district court denied motions for acquittal and for a new trial.
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Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
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.
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.
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.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.