The statistics on securities class-action lawsuits for 2018 are in and, though some numbers will come as no surprise, there are some trends to watch for in 2019. According to the New York Law Journal, the total number of securities-related class-actions decreased slightly in 2018…
Topic: Securities Litigation
The U.S. Securities and Exchange Commission (SEC) charged boxer Floyd Mayweather and music producer DJ Khaled with illegally promoting investments into Initial Coin Offerings, more commonly known as ICOs. This is the first time the SEC has taken regulatory action against people promoting investments in…
Topic: Criminal Defense
Two prominent American media companies and their owners are facing criminal charges brought by the Manhattan District Attorney’s Office in New York for allegedly defrauding their banks. IBT Media, also known as Newsweek Media Group, and Christian Media Corp (CMC) took out millions of dollars…
Topic: Criminal Defense, Fraud
Everyone has heard the phrase “white-collar crime.” But when it comes to explaining these types of offenses, people often repeat common misconceptions.
Topic: Uncategorized
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,…
Topic: Uncategorized
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…
Topic: Criminal Defense
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.
Recently, a licensed securities industry executive was charged with assault after a fight with his girlfriend. Shortly after the charges were filed in New York County Criminal Court, he violated the order of protection that was issued upon his arrest and arraignment. Wanting to avoid…
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.
