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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.
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.
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.
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.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.
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.