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.
Secretariat Client Natera Wins Preliminary Injunction against NeoGenomics
Economic analysis performed by Dr. Anup Malani and the Secretariat team demonstrates that a preliminary injunction is warranted. Natera, Inc., which specializes in cell-free DNA testing technology, sought a preliminary injunction against competitor NeoGenomics Laboratories, Inc.
Recursive Nash-in-Nash Bargaining Solution
Keith Waeher authored the paper “Recursive Nash-in-Nash Bargaining Solution” with Xiaowei Yu. The paper has been published in Economics Bulletin.
The Dawning of Diverse Data: How eDiscovery Is Moving Beyond Emails
Gone are the days when email reigned supreme in eDiscovery. The digital landscape is evolving rapidly and, within the next two years, diverse digital data will surpass email in prevalence. This shift will significantly impact legal reviews, demanding new approaches and adaptations. Let’s explore the rise of diverse data, its implications for eDiscovery, and how […]