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BONUS CONTENT: High Court May Limit the Reach of the Wire Fraud Statute: Post-Argument Update
In our recent article, we reviewed the briefing in Kousisis v. United States, O.T. 2024 (No. 23-909), an appeal that considers the viability of the fraudulent inducement theory, under which the government argues that deception to induce a commercial exchange can constitute mail or wire fraud, even if inflicting economic harm on the alleged victim was not the object of the scheme. The defense argued that in the absence of an intent to cause harm to the victim’s property, there could be no wire fraud.
On Dec. 9, 2024, the Supreme Court heard oral argument on the case. The Court appeared divided on the issue. Several justices appeared to share the views of Petitioners, emphasizing concerns about federalism and broad prosecutorial discretion — concerns repeatedly expressed by the Court in the context of interpreting other broadly-worded federal criminal statutes.
Justice Alito directed the government to such cases, including Ciminelli v. United States, 598 U.S. 306, 310 (2023) and Kelly v. United States, 590 U.S. 391 (2020), noting that “what they really stand for is that the Court really doesn’t like the federalization of white-collar prosecutions and wants that to be done in state court and is really hostile to this whole enterprise.” Chief Justice Roberts similarly flagged that “a lot of these things could be dealt with under state law, [] you don’t have to federalize every jot and tittle in a [] large contract,” noting that “the federalization of something as simple as nuances of contract law” is a “matter of concern that [the Court] expressed in many precedents.” While this premise seemed implicit in a long line of recent decisions, it was still surprising to hear the Court so openly discuss the broad question of whether white-collar crime should be the subject of the federal criminal law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.