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A Clue About #8 in Financial Fraud Law for the Year: Look at Bryan Cave’s Next Firm-Wide Leader

As the Financial Fraud Law Blog continues its countdown of the Top 10 in Financial Fraud Law for the year, we are going to begin with a clue: Bryan Cave. Give up? The clue is relevant to our Top 10 list because the international law firm has just named its next global chair: Therese D. Pritchard...

Prosecutors’ Rush to Join Private Law Firms Accelerates

The wave of financial fraud prosecutors joining private law firms is continuing – in fact, it appears to be accelerating. Consider that, in just the past couple of days, David Meister, who ran the enforcement unit at the Commodity Futures Trading Commission, joined Skadden, Arps, Slate...

Lawyer Gone Bad: Sentenced to Prison for Laundering Purported Stock Fraud Proceeds

Michael J. Scaglione, an attorney in Coral Gables, Florida, has been sentenced in federal court in Brooklyn, New York, to six months in prison, to be followed by four months of home detention with electric monitoring to be served during a two-year term of supervised release. As part of the sentence,...

Fuel for Crime, Corruption and Tax Evasion: US$68.9 Billion Flowed Illegally Into or Out of Emerging EU Economies

Nearly US$70 billion in illicit financial flows – the proceeds of crime, corruption, and tax evasion – flowed into or out of developing and emerging European Union member-states in 2011, according to newly released information from Global Financial Integrity (GFI). In conjunction with...

Former Wilmington Trust Officer Charged with Bank Fraud, Bribery, and Money Laundering

Brian D. Bailey, a former officer for the Wilmington Trust Corporation, has been charged in a 14 count indictment with nine counts of bank fraud and one count each of conspiracy to commit bank fraud, conspiracy to commit bank bribery, corruptly receiving a gift for procuring a loan, corruptly providing...

Pharmacy Preyed On HIV Patients While Fraudulently Billing Medicaid for Millions, Prosecutors Assert

Three men have been arrested on charges that they defrauded government-funded health care programs by buying back prescriptions and billing Medicaid as if the medication had been dispensed. The two owners of 184th Street Pharmacy in the Bronx, along with the supervising pharmacist, targeted financially...