In the January issue of LJN's Business Crimes Bulletin, White Collar partner Stanley Twardy Jr. and counsel Doreen Klein look at how the Department of Justice used wiretaps to uncover alleged insider trading at hedge fund Galleon Group, marking "the first time the court-authorized wiretaps have been used to target significant insider trading on Wall Street," according to Preet Bharara, the U.S. Attorney for the Southern District of New York. Twenty defendants have been arrested so far, including Galleon's founder Raj Rajaratnam. Others include lawyers, stock brokers and executives inside the issuers themselves.
Twardy and Klein conclude that the case is likely to portend the increased use of wiretaps in white collar cases despite raising practical issues that could benefit the defense. For one, telephone talk by traders is open to misinterpretation and likely to be contested before the fact finder. Also, the transcripts are discoverable in the parallel civil proceedings, allowing defendants to learn details of the government's case. What is certain is that prosecutors and white collar defense lawyers will be watching the case closely.
On September 25, DC-based counsel Steven Cash will be a featured speaker at the National Forum on the Foreign Agents Registration Act (FARA), an event presented by the American Conference Institute and held in Washington, DC.
Day Pitney Advisory
Steven Cash moderated a panel discussion hosted by Culper Connect, an alumni association of former United States Government public servants from the U.S. Intelligence Community.
Day Pitney Newsletter
Day Pitney Newsletter
Steven Cash was quoted in an article, "Trump Remarks Deepen Distrust with Intelligence Community," published by The Hill.
DC counsel Steven Cash was quoted in an article, "Five Takeaways from Barr's New Powers in 'Spying' Probe," published by The Hill.
Former federal prosecutor Stan Twardy was featured on the RNN-TV program "Richard French Live," a nightly news talk show.
Stan Twardy was quoted in an article, "5 Things to Know About John Durham—Barr's Pick to Probe Root of Russia Investigation," published by the Connecticut Law Tribune.
Stan Twardy was featured on a News 12 segment focusing on reports that U.S. Attorney General William Barr has assigned U.S. Attorney for the District of Connecticut John Durham to examine the origins of the Russia probe.