A federal judge on Wednesday imposed a $1.27 billion penalty on Bank of America after a jury found them liable for mortgage fraud. Judge Jed Rakoff for the US District Court for the Southern District of New York ruled after a jury found that Bank of America, the second largest bank in the US, had ...[read more]
The US Supreme Court ruled Monday in Loughrin v. United States that prosecution under the federal government's anti-bank fraud statute does not require proof that a defendant intended to defraud a financial institution. Kevin Loughrin used stolen checks to steal just over $1,000 from a local ...[read more]
JURIST Guest Columnists Daniel B. Levin and Victoria A. Degtyareva of Munger, Tolles & Olson LLP discuss the federal bank fraud statute and Loughrin v. United States...
Kevin Loughrin and an accomplice used six stolen and altered checks to steal just over $1,000 from a local Target store. ...[read more]
The US Supreme Court heard oral arguments on Tuesday in Loughrin v. United States, which raises the issue of whether prosecution under the federal government's anti-bank fraud statute requires proof that the defendant intended to defraud the financial institution and expose it to risk of loss. ...[read more]
An Italian appeals court overturned the fraud oversight convictions of several banks on Friday. A lower court ruled that JPMorgan Chase & Co., Deutsche Bank AG, UBS AG and Depfa Bank Plc forced the city of Milan to enter into an interest-rate swap agreement that ended up costing the city ...[read more]
02/10/2014: Better Markets sued DOJ over JP Morgan settlement.
02/04/2014: JP Morgan Chase paid 614 million in mortgage lending settlement.
01/31/2014: New York judge approved Bank of America settlement over mortgage-backed securities.
10/25/2013: US government reached 51 billion settlement ...[read more]
The US Supreme Court granted certiorari in two cases on Friday. First, the court will hear Fifth Third Bancorp v. Dudenhoeffer, a case in which the court will consider whether it is necessary to allege that Fifth Third, acting as a fiduciary of an employee stock ownership plan, abused its ...[read more]
A jury in the US District Court for the Southern District of New York on Wednesday found Bank of America (BOA) liable for fraudulently making bad loans and for removing quality checks for those loans. Also implicated in the verdict are Countrywide (a subdivision of Bank of America) and senior ...[read more]
Former Argentinian president Carlos Menem appeared in court on Monday for allegedly falsifying his 2000 tax returns. Prosecutors argue that Menem hid bank accounts worth millions of dollars, as well as various aircraft, properties and cars from the tax authorities. Despite having been convicted in ...[read more]
The US Department of Justice (DOJ) on Tuesday filed suit against Bank of America (BOA) in the US District Court for the Western District of North Carolina, claiming the corporation misled investors about securitized loans worth more than $850 million. The complaint alleges that BOA deceived ...[read more]