A bank was defrauded of US$150 million as a result of fraudulent transactions entered by an internal team of traders.
Having confirmed the trades through which the funds were misappropriated, the proceeds of the fraud were forensically traced using a combination of disclosure mechanisms (including Norwich Pharmacal orders, Section 1782 orders, and requests of overseas prosecutors), open-source research, and human intelligence sources. The proceeds had been laundered through structures and assets – including diamonds, Ferraris, and real estate – spread around the world including Azerbaijan, the Bahamas, Georgia, Israel, Latvia, Lithuania, Russia, Seychelles, Spain, Switzerland, UK, Ukraine, and the U.S. The tracing exercise enabled external legal counsel to obtain freezing orders and, ultimately, the repatriation of value.
The client recovered significant funds and the findings from the investigation contributed to two of the fraudsters receiving custodial sentences.
Navigating ECCTA: A Guide for Organizations
Ben Boorer, writing for Enterprise Times, discusses the Economic Crime and Corporate Transparency Act (ECCTA), which comes into force on 1st September 2025. ECCTA will reshape the UK’s compliance landscape by, amongst other things, holding organisations accountable for fraud committed by employees, agents, and subsidiaries.
Google Damages Ruling Offers Lessons for Testifying Experts
In an article for Law360, Director Adam Rhoten explores the implications and significance of the recent en banc U.S. Court of Appeals for the Federal Circuit decision in EcoFactor Inc. v. Google LLC, a significant ruling that marks a shift toward stricter judicial scrutiny of expert testimony in patent cases.
Achieving Organic Growth for a Legal Nonprofit
In this article for Law 360, Secretariat Managing Directors and co-founders of Law Rocks Nick Child and Ted Scott reflect on their journey of founding the nonprofit, reflecting on the biggest challenges they faced, and how they balance this endeavor with their full-time careers.