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In the Courts

By ALM Staff | Law Journal Newsletters |
May 30, 2007

Advice of Counsel Does Not Excuse Bankruptcy Fraud or False Statements

In United States v. Roti, — F.3d –, 2007 WL 1287402 (7th Cir. May 3, 2007), the Seventh Circuit held that advice of counsel is not a free-standing defense to bankruptcy fraud, but merely a means to negate the required mental state for the crime charged. Because, on the facts presented, following advice of counsel did not negate scienter, the conviction was affirmed.

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