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Crime in the Suites An Analysis of Current Issues in White Collar Defense

A Blog About Current Issues in White Collar Defense

The Cliffhanger – Paul Manafort’s Sentencing Drama
February 14, 2019

The Cliffhanger – Paul Manafort’s Sentencing Drama

By: James Trusty
A hit man walks into a restaurant where Tony Soprano and his family are eating dinner while the jukebox blares a Journey song. The last show of the highly successful series ends with an abrupt cut to black before the audience knows the fate of Tony and his family. The end of The Sopranos series was both ominous and frustrating. In a federal criminal court, when a judge determines that a defendant has breached his plea agreement, it’s as if the hitman has entered the restaurant but there’s another hour left of the show. Unlike the fictional mobster Tony Soprano, the fate of real-life political operative Paul Manafort will not be left to the imagination. Yesterday, US District Judge Amy Berman Jackson ruled that Manafort had indeed breached his cooperator plea agreement, and she consequently relieved the government of its stated concessions in the plea agreement. But, as it turns out, more fundamental concessions will stay in place, and although the sentencing battle will prove significant, Manafort may have already... Read more
New York AG Puts Crypto Exchanges in the Crosshairs
December 28, 2018

New York AG Puts Crypto Exchanges in the Crosshairs

By: George Calhoun

Following on the heels of the SEC’s announcement of subpoenas to crypto exchanges and token issuers, yesterday New York Attorney General Eric Schneiderman announced “the Virtual Markets Integrity Initiative,” which he described as “a fact-finding inquiry into the policies and practices of platforms used by consumers to trade virtual or ‘crypto’ currencies like bitcoin and… Read More

For many years, it has been the federal government, with its multitude of prosecutorial and regulatory arms, that has been able to throw its policing weight around, causing business owners to snap to attention with a crisp salute.  But as the traditional business model has morphed into clouds of technology-driven, international and multinational enterprises, this… Read More

Ifrah Law partner Jim Trusty has become a staple in the national news lately: he is frequently asked to comment on the many investigations and prosecutions currently going on which involve former and current officials and operatives at the highest levels of government. With over 28 years of experience as a federal prosecutor with the… Read More

This week, a federal district court in New York was the first to decide that federal securities laws may be used to prosecute fraud involving cryptocurrencies. In United States v. Zaslavskiy, Eastern District Judge Raymond Dearie held that the Securities Exchange Act of 1933 (“Exchange Act”) and Securities Act of 1933 (“Securities Act”) are broad… Read More

How to Raise Capital Through Registration Exempt ICOs
May 15, 2018

How to Raise Capital Through Registration Exempt ICOs

By: Jeff Ifrah and George Calhoun

The SEC has strongly indicated that initial coin offerings (ICOs) will be treated as securities, and thus must comply with various registration and disclosure requirements before being used to raise capital. Companies do have, however, several options for possible exemptions from the regulatory requirements that apply to registered public offerings. This chart outlines potential exemptions… Read More

Deputy Attorney General Rod Rosenstein will be arguing before the Supreme Court today for the first time in his nearly thirty-year government career even as rumors abound that Donald Trump is talking about firing him to cut off investigations into his administration’s Russia ties.   Although the United States is usually represented before the Supreme… Read More

As previewed in our previous post, the United States Securities and Exchange Commission (“SEC”) unanimously approved new cybersecurity interpretive guidance—a format used to clarify the SEC’s views on security laws and regulations—on Wednesday of last week. The guidelines make no mention of how they affect and interplay with other regulators’ data privacy requirements, so whether… Read More

As predicted, the Securities and Exchange Commission (SEC) has taken additional steps to clamp down on the exploding ICO market: yesterday the Wall Street Journal  reported the agency had issued “dozens of subpoenas and information requests to technology companies and advisors.” After repeated warnings from regulators like SEC Chairman Jay Clayton, the SEC is now sending… Read More