A Look at Forensic Accounting and Financial Fraud
The vast majority of federal white-collar fraud enforcement actions are prosecuted under the wire, mail, or bank fraud statutes. 18 U.S.C. §§ 1341, 1343, and 1344. The Supreme Court’s recent decision in Thompson v. United...more
The Justice Department recently announced new charges, convictions and sentencings in its ongoing initiative to target pandemic-related fraud, emphasizing the government’s commitment to identify and hold accountable those who...more
n a recent article in the New York Times, David Fahrenthold outlined the big issue facing prosecutors investigating COVID-era fraud: the sheer magnitude of it. The title of the article, “Prosecutors Struggle to Catch Up to a...more
On January 27, 2022, the United States Court of Appeals for the Second Circuit issued a decision in United States v. Connolly, overturning the 2018 fraud convictions of two former traders at a large financial institution. A...more
Fraud Scheme Results in $56 Million Seized as Largest Recovery of Cryptocurrency by US - On November 12, 2021, the U.S. Department of Justice and U.S. Attorney’s Office for the Southern District of California’s request was...more
On August 11, 2021, Sheng-Wen Cheng was sentenced to 72 months in prison for his alleged participation in multiple schemes related to Covid-19 pandemic loan fraud and securities fraud. Taiwanese National, Self-Proclaimed...more
After an eight-day trial, a federal jury convicted four California residents for their scheme to submit fraudulent loan applications seeking millions of dollars in the Paycheck Protection Program (PPP) and Economic Injury...more
As the pandemic slowly recedes, leaving a host of hastily-enacted funding and programs in its wake, the government’s recovery and clean-up efforts are well underway. In April and May 2021, the Department of Justice (DOJ)...more
Investment Bank Fined $400 Million For Failing to Remediate Deficiencies in its Risk Management Systems - On October 7, the Federal Reserve Board and Office of the Comptroller of the Currency issued a consent order...more
The past decade has taught lenders much about regulatory enforcement risk. In the fallout of the 2008 financial crisis and collapse of the housing and related markets, the Department of Justice and other agencies...more
Nine Individuals Charged in $24 Million Paycheck Protection Program Fraud Scheme - In one of the largest COVID-relief fraud cases to date, nine Ohio and Florida individuals are alleged to have conspired to obtain...more
COVID Relief Program Fraud Charges - DOJ continues to announce charges against defendants accused of fraud in connection with allegedly false loan applications submitted under the Paycheck Protection Program (PPP)...more
While there has been a lot of controversy in the media surrounding the Paycheck Protection Program (PPP), there is no question that the program has served as an invaluable lifeline to many small and medium-sized businesses...more
Despite massive publicity and numerous cases by enforcement authorities, investment fund fraud actions continue to be a staple of the SEC, CFTC and the DOJ. In case after case investors are convinced to part with their hard...more