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This month marked a significant development in the wake of the Supreme Court’s 2023 rejection of the “right-to-control” theory of fraud in Ciminelli v. United States. In Johnson v. United States, the Second Circuit...more
Establishing that criminal defendants engaged in market manipulation is extremely difficult, often due to the difficulty in establishing that the defendant created prices that did not reflect legitimate sources of supply or...more
On July 2, 2025, the U.S. Court of Appeals for the Second Circuit ruled in United States v. Lopez that foreign commercial bribery schemes fall within the ambit of the honest services wire fraud statute, 18 U.S.C. §...more
On May 22, 2025, in a significant decision that clarifies the scope of the federal wire fraud statute and resolves a circuit split, the U.S. Supreme Court upheld a pair of wire fraud convictions that had been premised on a...more
A federal court of appeals just upheld the convictions of two workplace managers after an OSHA inspection quickly evolved into a criminal prosecution. The U.S. Court of Appeals for the 7th Circuit offered a stark warning to...more
The U.S. Supreme Court’s decision in Kousisis et al. v. United States clarifies that criminal federal wire fraud does not require that the defendant intended to cause the victim economic harm....more
On May 22, 2025, the Supreme Court of the United States (the Court) issued its opinion in Kousisis v. United States, holding that a defendant may be convicted of wire fraud for inducing a victim to enter a contract under...more
When an executive learns that she is being investigated for fraud, her first reaction often is: “But I didn’t intend for anyone to lose money!” This entirely understandable response may well be true (and lead the executive to...more
On May 22, 2025, the Supreme Court of the United States affirmed prosecutors’ ability to pursue mail and wire fraud charges under the “fraudulent inducement” theory. Under that theory, a defendant need not intend to cause...more
Seventh Circuit Reverses AKS Conviction Involving Allegations of Illegal Marketing and Advertising - On April 14, the US Court of Appeals for the Seventh Circuit reversed the criminal conviction of Mark Sorensen after a...more
This is the first of a continuing series of summaries written by Jackson Walker partner, Joe Magliolo, and his colleagues, of new, published Fifth Circuit criminal opinions, with occasional forays into other subjects of...more
In United States v. Aiello, the Second Circuit (Raggi, Chin, Sullivan) remanded the cases of Steven Aiello, Joseph Gerardi, Louis Ciminelli, and Alain Kaloyeros (collectively, the “defendant-appellants”) for retrial on their...more
U.S. Eleventh Circuit Court of Appeals - USA v. Charles - sentencing - Miller v. Ramirez - qualified immunity, deferring ruling - Chapman v. Dunn - prison conditions, Eighth Amendment - USA v. Horn - securities...more
On December 9, 2024, the Supreme Court of the United States heard oral argument in Kousisis v. United States. The case squarely assesses the validity of the “fraudulent inducement” theory of mail and wire fraud under federal...more
In United States v. Lewis, the Second Circuit (per curiam) affirmed the judgment of conviction of Chanette Lewis, who had pleaded guilty to two counts of conspiracy to commit wire fraud in violation of 18 U.S.C. § 371. The...more
The Justice Department trumpeted its criminal prosecutions against defendants charged with Libor-rigging. It had a right to toot its own horn. But many of these convictions have not withstood the scrutiny of appellate...more
Precedential Opinions of Note - Evidence from Outside Limitations Period Permissible to Prove Ongoing Scheme to Defraud - United States v. James (April 3, 2020), No. 19-1250...more
Kelly v. United States, No. 18-1059: When the mayor of Fort Lee, New Jersey refused to back then-Governor Chris Christie’s reelection campaign, the Governor’s Deputy Chief of Staff, Bridget Anne Kelly, and others punished the...more
Recently, a Mississippi federal judge provided a heartening reminder that, while it may seem all too often ignored, fraud in the mass tort context can carry serious—indeed, criminal—consequences. As we discuss below, victims...more
On December 30, 2019, the Second Circuit issued a consequential insider trading decision in United States v. Blaszczak. In Blaszczak, the Second Circuit faced the question whether the “personal benefit” test set forth in...more
ANTICORRUPTION DEVELOPMENTS - $34 Million SEC Settlement for Legg Mason - On August 27, 2018, the Securities and Exchange Commission (SEC) announced that Legg Mason Inc. will pay more than $34 million to settle an...more
After a two week trial in 2013, a jury convicted Mitchell J. Stein, a lawyer, of mail, wire, and securities fraud based on evidence that he fabricated press releases and purchase orders to inflate the stock price of his...more
It has been a banner season for politically important public corruption rulings. Two weeks ago the Fourth Circuit issued its opinion upholding the conviction of former Virginia Governor Bob McDonnell. Now the Seventh Circuit...more
Governor McDonnell’s attorneys put it this way: The Governor’s acts weren’t “official” because “none were any more remarkable than acts that governors unthinkingly take hundreds of times weekly for countless constituents,...more
On June 9, the US Court of Appeals for the Eleventh Circuit affirmed a Florida district court’s refusal to acquit Linda Deavers, an Indianapolis real estate broker, of four counts of wire fraud. In doing so, the Eleventh...more