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In the Courts
Seventh Circuit Allows Government to Condition Request for Sentence Reduction
The Seventh Circuit approved the government's condition of its motion for the reduction of Ronald J. Richardson's sentence on his agreement to waive his right to appeal. United States v. Richardson, 558 F.3d 680, 683 (7th Cir. 2009). Richardson had been convicted of racketeering, wire fraud, money laundering, and tax evasion after a jury trial. United States v. Ghilarducci, 480 F.3d 542, 543 (7th Cir. 2007). At trial, Richardson was accused of assisting August C. Ghilarducci, president of Westchester Financial Associates, Inc. (WFA), with a scheme in which WFA clients were charged for obtaining letters showing that financial institutions were able to provide short-term leases of large sums of money to the clients. These Confirmation of Funds letters proved worthless and left WFA clients with huge losses. The court sentenced Richardson to 40 months in prison.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.