Category Archives: White collar defense

Justice soon for Skilling?

According to CNBC, there might finally be justice for Jeff Skilling: Former Enron CEO Jeffrey Skilling, who is serving a 24-year prison term for his role in the energy giant’s epic collapse, could get out of prison early under an agreement being discussed by his attorneys and the Justice Department, CNBC has learned. Skilling, who…

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Should Penn State face institutional liability in l’affaire Sandusky?

Interesting question. While my knee-jerk reaction was to side with those who are arguing for shutting the university down, burning it to the ground, and then salting the earth, the estimable Professor Bainbridge takes a different view in an interesting post today, to wit: There is an argument for imposing civil liability on corporations and…

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Free Jeff Skilling

The United States Supreme Court took a substantial step toward doing just that yesterday when it vacated Skilling’s conviction under the federal “honest services” wire fraud statute, and remanded the case to the 5th Circuit Court of Appeals to determine whether Skilling’s conviction on other charges against him was so tainted by the government’s reliance…

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Fumo Guilty

Former Pennsylvania State Senator Vince Fumo was convicted yesterday on all 137 corruption related charges in which he had been indicted. The Philadelphia Inquirer has a lengthy story regarding the verdict that can be found here. I am not surpised that umo was convicted, although I am slightly surprised that he was convicted on ALL…

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Who Is More Dangerous?

The man on the right is Salim Ahmed Hamdan. He was Osama bin Laden’s driver. He was convicted of materially aiding terrorists. He was sentenced to 5 1/2 years in prison. The man on the left is Jamie Olis. He was an accountant for Dynergy Corp., and was convicted of materially aiding activities that were…

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Bad News For Fumo

Another of State Senator Vice Fumo’s former aide’s has agreed to plead guilty and testify against their former boss. Looks like the rats are deserting the ship – with emphasis on the word rat. The Philly.com has the story: In another blow to State Sen. Vincent J. Fumo, a computer technician who prosecutors said carried…

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Increased Criminalization of Business Practices No Bonus For Investors

That’s the general thesis of a very interesting article in the Winter 2008 issue of The City Journal. The criminalization of bad business decisions, previously dealt with in civil courts through claims for civil fraud or other liability theories, has been a troubling trend since the spectacular collapse of Enron. If recent reports concerning the…

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Prosecutors Build Case Against Pellicano

The manager of a billion-dollar hedge fund, the billionaire head of a buyout firm, and the ex-wives of a television actor and a major real estate developer all will be crucial witnesses at the racketeering trial beginning next week for Anthony Pellicano, the infamous Hollywood private eye.The four will testify that they paid Mr. Pellicano…

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NatWest 3 To Be Sentenced

Three British bankers are to be sentenced Friday for their roles in a fraudulent scheme involving collapsed U.S. energy company Enron.David Bermingham, Giles Darby and Gary Mulgrew each face up to five years in prison and a fine of up to $250,000.In November, the three men each pleaded guilty to one count of wire fraud…

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Good News for Former Brocade CEO

Fortune’s Roger Parloff reported Friday at his Legal Pad blog on a significant recent development in the options backdating case of former Brocade CEO Gregory Reyes. Although he was convicted on 10 bacdating related charges, Reyes will likely receive a minimal prison term – if he in fact is sentenced to any prison time at…

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