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Department of Justice (DOJ) Banks Criminal Prosecution

ArentFox Schiff

The End of LIBOR: Hotel California Edition [Part II]

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On October 1, 2024, the United Kingdom Financial Conduct Authority (UK FCA) phased out ‘Zombie’ LIBOR, as a transitional benchmark, with the move to alternative “risk-free” rates....more

Ballard Spahr LLP

Criminal Case Round-Up: Recent Prosecutions Involving Casinos

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The Department of Justice (“DOJ”) has been very active in the Bank Secrecy Act (“BSA”) / Anti-Money Laundering (“AML”) space, as reflected by a recent series of individual prosecutions and corporate non-prosecution agreements...more

The Volkov Law Group

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

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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

The Volkov Law Group

DOJ Charges Two Austrian Bankers with Money Laundering as Part of Massive Odebrecht Bribery Scheme

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The Department of Justice is starting to launch its FCPA enforcement profile after a brief lull in DOJ’s transition to a new administration.  This enforcement lull occurred in the transition to the prior administration in...more

Robins Kaplan LLP

Financial Daily Dose 6.4.2020 | Top Story: DOJ Indicts Top Chicken Industry Execs Over Price-Fixing Allegations

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The DOJ has begun the prosecutorial phase of its chicken price-fixing investigation with a one-count indictment accusing current and former senior execs at Pilgrim’s Pride and Claxton Poultry Farms—including their current...more

The Volkov Law Group

Wells Fargo Settles With Justice Department for $3 Billion

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This year, 2020, has been an enforcement year opening with billion-dollar settlements: first, Airbus settled FCPA charges for $4 billion, and now Wells Fargo for $3 billion.  What a start to an enforcement year!...more

Robins Kaplan LLP

Financial Daily Dose 2.11.2020 | Top Story: DOJ Indicts Four from Chinese Army Over 2017 Equifax Cyberattack

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-The DOJ has announced charges against four members of China’s military related to the 2017 cyberattack on credit-reporting agency Equifax, the breach that revealed “trade secrets and the personal data of about 145 million...more

Sheppard Mullin Richter & Hampton LLP

Spoofing Enforcement Intensifies

U.S. regulators, in particular the Commodity Futures Trading Commission (“CFTC”), are intently pursuing market manipulation enforcement. The September 30 end of the 2019 fiscal year brought with it a flurry of press releases...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Some early signs of the focus of SoftBank’s “hugely ambitious” $100 billion investment fund are beginning to emerge, and at first blush, it appears a majority of the cash will land in private and public markets rather than...more

Robinson+Cole Data Privacy + Security Insider

Hacker arrests and prosecutions update

We previously reported that alleged Ukranian hacker Sergey Vovnenko, also known as “Flycracker,” “Fly” and “Darklife” was extradited from Italy, arrested and charged in New Jersey federal court for his part in disbursing the...more

Ballard Spahr LLP

DOJ Announces Two More ‘Operation Choke Point’ Settlements

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With the recent announcement by the U.S. Department of Justice (DOJ) that it had settled separate lawsuits against two small banks charged with facilitating consumer fraud through their relationships with third-party payment...more

Davis Wright Tremaine LLP

Operation Chokepoint and the Brave New World of Criminal Liability - November 2014

The U.S. Department of Justice and banking regulators have stepped up the pace of criminal, civil and administrative actions against banks, payment processors, money transmitters, and other financial institutions, for...more

Blank Rome LLP

Former UBS Banker Trial Begins in Florida

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Opening statements were heard on Tuesday and the first government witness testified yesterday in the trial of ex-UBS AG banking executive Raoul Weil. Prosecutors have sought to show him as the driving force behind the bank’s...more

The Volkov Law Group

On The Chopping Block: Banks And Financial Institutions

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The Department of Justice has had enough. Banks and other financial institutions are not just on the radar screen – they are on the chopping block. One-by-one watch out – banks and other financial institutions are coming...more

Blank Rome LLP

DOJ Offshore Enforcement Update: In Landmark Case, Credit Suisse Pleads Guilty, Agrees to Pay $2.6 Billion Penalty; Swiss Bank...

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Yesterday, the Department of Justice announced that Credit Suisse AG pleaded guilty to having assisted U.S. taxpayers in evading the payment of U.S. taxes and agreed to pay a penalty of $2.6 billion. Deputy Attorney General...more

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