News and Events for Attorneys and Executives

Banking & Finance

Implementing the New Revenue Recognition Standard – What Private Companies Need to Do Now

Insight
With the effective date for the new revenue standard fast approaching, many private companies have still not taken important steps towards implementation, writes Robert S. Miller, CPA, CFE, partner, Samet & Company, PC.

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Subpoenas Issued to Trump Organization in Emoluments Lawsuit

News
Reuters reports the Trump Organization Inc., the president’s privately owned real estate company, and related corporate entities received the subpoenas.

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Justice Department Charges 4 Over Panama Papers Tax Schemes

Justice Department Charges 4 Over Panama Papers Tax Schemes

News
Those charged include a former investment manager, a former U.S. resident, an American accountant and a Panamanian lawyer, reports The Washington Post.

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Dallas Cryptocurrency CEO Faces Charges of Scamming Investors Out of $4 Million

News
Jared Rice Sr.’s arrest followed his indictment on three counts each of securities fraud and wire fraud, according to The Dallas Morning News.

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Roetzel Represents C.S.I. Enterprises, Inc. in $600 Million Acquisition by Edenred

News
Roetzel & Andress LPA represented C.S.I. Enterprises, Inc., a leading global corporate payments technology company, in its agreement with Edenred, a Malakoff, France-based company.

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Tesla Loses a Senior Lawyer Just as SEC Tightens Grip

News
Bloomberg is reporting that an experienced securities lawyer has left Tesla Inc. just as the company needs one under its fraud settlement with U.S. regulators.

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Ex-JPMorgan Trader Pleads Guilty in Six-Year Spoofing Plot

News
A former precious-metals trader said to have worked at JPMorgan Chase & Co. admitted he engaged in a six-year spoofing scheme that defrauded investors in futures contracts with the help of his colleagues and bosses, Bloomberg Law reports.

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Forex-Rigging Settlements Yield $300M for Class Counsel

News
The settlement is the third largest antitrust class action settlement in history, according to plaintiffs.

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CEO Allegedly Stole Millions From Low-Income Customers to Pay for a Ferrari, a Private Jet and a Florida Condo

News
American Broadband’s chief executive, Jeffrey Ansted, was held personally liable for the alleged misconduct as the FCC accused him of embezzling aid money and using it to pay for luxury goods such as an $8 million private Cessna jet.

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‘Frack Master’ of Texas Oil Fame Pleads Guilty to Massive Fraud, Faces Up to 12 Years in Prison

News
Christopher Faulkner, the former CEO of Dallas-based Breitling Energy, became a star in business circles for his high-profile media appearances defending hydraulic fracturing or fracking, reports The Dallas Morning News.

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Ten Key Issues in Addressed Lease Agreements for Companies

Insight
An understanding of the unique features of equipment lease contracts should help a company work with its bank to structure and document a mutually acceptable lease agreement, according to a Steptoe & Johnson post.

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K&L Gates Under Fire from Texas Company in Malpractice Suit

News
Bloomberg Law reports that K&L Gates LLP is facing a $100 million legal malpractice suit from a Texas semiconductor company, Quantum Materials Corp., over an alleged conflict of interest.

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HSBC to Pay $765 Million in Settlement Over Pre-Crisis Mortgage Bonds

HSBC to Pay $765 Million in Settlement Over Pre-Crisis Mortgage Bonds

News
Housing Wire is reporting that HSBC will pay $765 million to the federal government as part of a settlement that covers the bank’s mortgage bond activities in the run-up to the housing crisis.

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Contract Roulette: The Top Five Agreements That Get Businesspeople into Trouble

Contract Roulette: The Top Five Agreements That Get Businesspeople into Trouble

Insight
You can do a lot of damage with a signature, warns Jack Garson of Garson Law LLC in Bethesda, Maryland. You can go broke.

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Elon Musk’s SEC Settlement Could Have Gone So Much Worse

Elon Musk’s SEC Settlement Could Have Gone So Much Worse

News
The SEC’s initial suit sought to bar the CEO from becoming an officer or director for any public company, perhaps for life, according to Wired.

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Three Charged in $364M Scheme That Paid for Splurges on Diamonds, Bugattis and Mansions

News
A federal grand jury has indicted three men for what officials describe as a $364 million Ponzi scheme to defraud investors, reports The Dallas Morning News.

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Former Locke Lord Partner Indicted on Charges Related to Alleged Cryptocurrency Ponzi Scheme

Former Locke Lord Partner Indicted on Charges Related to Alleged Cryptocurrency Ponzi Scheme

News
According to the indictment, Mark S. Scott was part of a conspiracy to conceal the source of $400 million in process from an alleged pyramid scheme involving a purported cryptocurrency, OneCoin.

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Citigroup Pays $12 Million to Settle Dark Pool Probe

Citigroup Pays $12 Million to Settle Dark Pool Probe

News
The bank will pay a penalty of $6.5 million and disgorgement and prejudgment interest totaling $5.4 million, while its affiliate, Citi Order Routing and Execution, will pay a penalty of $1 million.

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SEC Says Biotech Billionaire CEO Took Part in Pump-and-Dump Schemes

SEC Says Biotech Billionaire CEO Took Part in Pump-and-Dump Schemes

News
In a lawsuit filed in federal court in New York, the SEC alleged OPKO Health chairman and CEO Phillip Frost took part in three pump-and-dump schemes between 2013 and 2018, according to MedCity News.

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JPMorgan Chase Will Pay $24 Million to End Lawsuit From Black Advisers

JPMorgan Chase Will Pay $24 Million to End Lawsuit From Black Advisers

News
The company will also put $4.5 million into a fund that will back recruitment, bias training, a review of branch assignments and a coaching program for black advisers.

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