Dan Wenner authored an article, "Inside the 1st Muni Bond Criminal Case," published by Law360. The article detailed the prosecution by the U.S. Attorney's Office for the Southern District of New York (USAO) of Christopher St. Lawrence, the town supervisor for the town of Ramapo, New York, and N. Aaron Troodler, the executive director of the Ramapo Local Development Corporation (RLDC). The government charged them with conspiring to commit securities fraud and wire fraud and with committing those offenses. The superseding information alleged they made false representations with respect to municipal bonds offered by the town and the RLDC. Troodler pleaded guilty to the charges, and St. Lawrence was convicted at trial. After cataloguing the alleged misconduct, which included lying about a property development that was scrapped to protect a rattlesnake habitat, Wenner noted "that the superseding information does not allege that either Troodler or St. Lawrence improperly benefited from the scheme to which Troodler pleaded guilty and for which St. Lawrence was convicted. It appears, then, that perhaps Troodler and St. Lawrence engaged in this conduct without ill intent, expecting (as is sometimes the case) that everything would work out in the end. Unfortunately, the laws criminalizing fraud are not forgiving of such optimism." Wenner relayed the USAO's warning that the municipal-bond industry was in the government's sights. And he concluded that "with a focus on municipalities, even folks looking to serve their communities will not be immune from prosecution should they get caught up in a scheme to hide the facts from investors."
Dina Kapur Sanna and Carl A. Merino co-authored an article, "Long Arm of the Law: The Risk to U.S. Practitioners of Prosecution for Facilitating Foreign Tax Offenses," (subscription required) in the June 2017 issue of Trusts & Estates Magazine.
On June 15, Dina Kapur Sanna and Carl A. Merino moderated a discussion panel at the Cambridge International Wealth Advisors Forum 2.0 held in Lisbon about the role of wealth advisors as "gatekeepers" to the financial system and measures being implemented by different jurisdictions to combat money laundering and tax evasion, including obligations imposed on lawyers and other advisors.
Day Pitney Newsletter
On May 25, the Federal Bar Council held a CLE, entitled: "Second Circuit Appellate Advocacy Workshop," which was coordinated by Dan Wenner.
Stan Twardy, Elizabeth Latif and Eric Sussman were successful in having a federal judge dismiss a False Claims Act lawsuit against our client Sikorsky Aircraft Corp.
Danielle Corcione was quoted by Law360 in the article titled "Attys Dish on Escobar's FCA Impact One Year Later," in which she commented on the U.S. Supreme Court's decision one year ago in Universal Health Services v. Escobar and its impact on False Claims Act litigation.
Day Pitney Press Release
"Don't Panic, Don't Lie"; Steven Cash is quoted in the National Law Journal discussing how individuals should respond when they find themselves involved in criminal investigations.
Day Pitney Press Release
Jed Davis will be a featured panelist in a CLE program titled, "Implementing the New DFS Cybersecurity Regulation," (click on title to register), sponsored by the Data Law Initiative at Cardozo Law School.