A Nebbia hearing is an important part of the federal criminal justice process. If you have been arrested and charged with a federal crime, you will need to post bail to remain free while your case makes its way through the system. A Nebbia hearing,…
White-collar crime is often viewed as victimless. But that is not exactly true. Financial frauds such as embezzlement, money laundering, securities fraud, insurance fraud and tax evasion can have significant consequences for businesses, their clients and partners and consumers. That is why white-collar crime is…
New York Law Journal
Written by Harlan Protass
An in-depth analysis of federal sentencing guidelines in the wake of United States v. Booker, which rendered those guidelines advisory rather than mandatory.
A hedge fund executive turned to attorney Harlan Protass for representation when he received a subpoena from the U.S. Securities and Exchange Commission (SEC) inquiring into his trading strategy. Because he knew that his client had not violated any law, attorney Protass and his client fully cooperated with the SEC’s investigation. After not hearing from those regulators for almost two years, however, attorney Protass received notice that the SEC was considering the filing of securities fraud charges against his client. In response, attorney Protass prepared a lengthy “Wells Submission” that ultimately persuaded the SEC of what he already knew – that his client had not violated any law, rule or regulation.
Charged with securities fraud and other related violations arising from his operation of a hedge fund with a unique and somewhat controversial investment strategy, a hedge fund manager turned to SEC lawyer Harlan Protass to represent him in litigation with the U.S. Securities and Exchange Commission (SEC). Attorney Protass tried everything to persuade federal regulators to drop their case. He submitted two “white papers,” three “Wells Submissions,” made numerous presentations and even took appeals to the highest levels of the SEC in Washington, D.C.
However, those regulators would not back down. Attorney Protass, therefore, had no choice but to defend the charges in court. After a three-week trial, an SEC administrative law judge dismissed all charges against the client, who, even today, continues operation of his profitable hedge fund.