Criminal Prosecution, Bank Fraud, Financial Institutions

Fraud by Omission? How Thompson v. United States Could Narrow the Reach of the Federal Wire, Mail, and Bank Fraud Statutes

Benesch on 4/4/2025

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

Danske Bank Pleads Guilty and Pays $2 Billion to Resolve Massive Fraud Case

The Volkov Law Group on 1/9/2023

Danske Bank, the largest bank in Denmark, agreed to plead guilty to fraud and paid $2 billion to settle long-standing anti-money laundering and fraud violations stemming from its banking operations in Estonia. Danske Bank...more

This Week at The Ninth: Conspiracy Theories

Morrison & Foerster LLP - Left Coast Appeals on 10/18/2021

This week, the Ninth Circuit explores permissible theories of liability in a bank fraud conspiracy case. USA V. DIANA YATES - The Court holds that theories of conspiracy liability premised on a bank’s right to...more

DOJ Announces Trio of PPP Fraud Prosecutions

Burr & Forman on 6/26/2020

This week the US Department of Justice (“DOJ”) announced a trio of criminal prosecutions for fraudulent PPP loan applications. Each involved inter-agency investigations involving the IRS Criminal Investigation Division...more

Federal Court Makes Clear That International Financial Institution Must Appear for Arraignment in Criminal Action

Ballard Spahr LLP on 12/24/2019

Court Rejects Attempt by Halkbank to Enter “Special Appearance” Contesting Jurisdiction - Turkish state-owned bank Halkbank’s efforts to avoid appearing in U.S. federal court for arraignment were squashed recently in a...more

US Second Circuit Finds Testimony Compelled by UK Regulators to be Inadmissible in Criminal Proceedings

Cadwalader, Wickersham & Taft LLP on 7/26/2017

Creating a potential new impediment for collaboration between UK and US investigators, the Court of Appeals for the Second Circuit in New York recently held that evidence derived from compelled testimony cannot be used in a...more

Financial Services Report - Spring 2017

Morrison & Foerster LLP on 3/20/2017

EDITOR’S NOTE - In like a lion, out like a lamb—it works for weather; does it work for new administrations? We’ll have to wait and see. We’ll have to wait and see about the length of CFPB Director Richard Cordray’s...more

The Supreme Court’s Broad Interpretation of the Bank Fraud Statute May Provide a Potent Tool in Combatting Cybercrime

Cadwalader, Wickersham & Taft LLP on 12/20/2016

The Supreme Court in Shaw v. United States recently held that the federal bank fraud statute does not require that defendants cause, or intend to cause, an actual financial loss to the financial institutions they seek to...more

Supreme Court Finds Bank Fraud Need Not Target Banks; Resolves Circuit Split in Prosecutors’ Favor

K&L Gates LLP on 12/16/2016

On Monday, the Supreme Court issued a unanimous opinion in Shaw v. United States, holding that a violation of the Bank Fraud Act, does not require proof that a defendant intends to target a bank, but only that defendant’s...more

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