Insider Tip on Cocktail Napkin Nets Securities Fraud Charge

A Watertown, Massachusetts, man has been convicted of securities fraud after a federal jury in Boston found him guilty of profiting from an insider trading tip he received on a cocktail napkin at a golf club.  He was acquitted of a separate charge of conspiracy to commit securities fraud. Real estate developer Robert H. Bray, … Continued

FBI Investigates California Hospital Computer Hack

The FBI is investigating the hacking of a Hollywood, California, hospital’s computer system after the hospital paid $17,000 in ransom to regain control of its files, according to a news report. Hollywood Presbyterian Medical Center said that a hacker used malware to infect the hospital’s computers and then demanded 40 bitcoin — approximately $17,000 — … Continued

FDA Says Parmesan Cheese Fraud a Growing Concern

The U.S. Food and Drug Administration has launched a criminal investigation into a Pennsylvania cheese factory it says has put fillers such as wood pulp and cellulose into its grated parmesan cheese products that are distributed to some of the nation’s largest grocery store chains. The FDA said that it received a tip and then … Continued

Bloomberg BNA Publishes Outlook for Health Care Fraud in 2016

Bloomberg BNA has published its Outlook for Health Care Fraud for 2016, which includes information gathered from interviews with health care attorneys, trade association executives and health care consultants and recommendations on what health care providers can do to protect themselves. The report focuses on the following health care fraud trends: False Claims Act litigation … Continued

U.S. Supreme Court Agrees to Hear Insider Trading Case

The U.S. Supreme Court has agreed to hear a significant insider trading case where its decision will clarify an issue upon which two circuits have split: the definition of “personal benefit” in regard to tipsters in insider trading cases. The case — Salman v. United States — involves a banker who tipped his brother to … Continued

DOJ Intensifies Effort to Prosecute Executives for White Collar Crimes

Last September, the U.S. Department of Justice issued a policy memo to its prosecutors urging them to demand evidence against employees “regardless of their position, status or seniority” from companies that are under investigation for corporate fraud or other white collar crime. The renewed focus on prosecuting executives and other employees for white collar offenses … Continued

California Case a Cautionary Tale of Fed’s Relentless Prosecution in a Dubious White Collar Crime

Regardless of whether you believe the feds are soft on white collar crime, there is one story out of California that illustrates their relentless prosecution of dubious charges against an entrepreneur and his attorney girlfriend. According to a Forbes article, California businessman Steven Zinnel’s bankruptcy was discharged in 2008.  In his filing, he listed assets … Continued

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