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United Kingdom Appeals Libor

ArentFox Schiff

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

ArentFox Schiff on

In a recent alert, we highlighted the United Kingdom (UK) benchmark manipulation cases of Tom Hayes and Carlo Palombo from 2015 and 2019, respectively. Hayes was the first banker to be jailed in the LIBOR scandal....more

Quinn Emanuel

The ‘Fraud is Not Enough’ – English law raises the bar for proving reliance in misrepresentation claims

Quinn Emanuel on

I. Introduction - What level of awareness is required to be in a person’s mind when being induced by another to rely on an implied fraudulent representation? According to the English High Court, which recently had to...more

Eversheds Sutherland (US) LLP

Stymied fraud prosecutions could force DOJ prosecutors to reevaluate their strategy

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

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - January 2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including DOJ guidance on the use of corporate monitors in criminal...more

Cadwalader, Wickersham & Taft LLP

English Court of Appeal Decision in Significant Test Case: Property Alliance Group v Royal Bank of Scotland

On 2 March 2018, the Court of Appeal handed down its highly-anticipated judgment in Property Alliance Group (“PAG”) v Royal Bank of Scotland (“RBS”), dismissing all of PAG’s grounds of appeal and overturning a finding of...more

WilmerHale

Case Note: Allen and Conti

WilmerHale on

This case, from the U.S. Federal Appeals Court, considers the applicability of the Fifth Amendment’s privilege against self-incrimination in relation to testimony compelled by a foreign government, on the present facts the...more

Latham & Watkins LLP

Second Circuit: Fifth Amendment Bars Testimony Compelled by Foreign Governments

Latham & Watkins LLP on

The court vacates LIBOR convictions with significant implications for US criminal cases involving cross-border investigations. Key Points: ..The Fifth Amendment also limits the use a defendant’s statements compelled by...more

King & Spalding

A Constitutional Check on Cross-Border Enforcement Tactics: Takeaways from the Second Circuit’s Decision in United States v. Allen

King & Spalding on

Today’s global investigations frequently involve the cooperation of many government agencies in multiple countries. On July 18, 2017, the U.S. Court of Appeals for the Second Circuit handed down a decision creating a major...more

Eversheds Sutherland (US) LLP

United States v. Allen and the Taint of Compelled Testimony in Cross-Border Enforcement Actions

In a decision likely to cause global reverberations in the realm of cross-border enforcement, the US Court of Appeals for the Second Circuit has vacated the convictions and indictment in the first US criminal appeal related...more

A&O Shearman

Second Circuit Overturns Convictions, Dismisses Indictments In LIBOR Case Due To Taint Of Testimony Compelled By Foreign...

A&O Shearman on

On July 19, 2017, the United States Court of Appeals for the Second Circuit overturned the convictions of Anthony Allen and Anthony Conti, former traders at Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (“Rabobank”)...more

BCLP

Second Circuit Hands Government a Major Setback in LIBOR Fraud Case

BCLP on

On July 19, 2017, the United States Court of Appeals for the Second Circuit issued a decision that could impact prosecutions of corporate employees that result from multi-jurisdictional investigations, such as those involving...more

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