A Houston man, Lee Price III, allegedly collected $1.6 million in Paycheck Protection Program (PPP) relief funds on account of two businesses with no known employees, and purchased a Lamborghini Urus, a Rolex watch, and real estate among other extravagant personal...
DOJ Continues to Prioritize and Combat CARES Act and COVID-19 Fraud
In March 2020, The Department of Justice (DOJ) directed federal prosecutors to prioritize their investigation and prosecution of fraud relating to the COVID-19 pandemic. Because so many Americans and small businesses are suffering from the economic effects of the...
Supreme Court Limits SEC’s Ability to Recoup Profits from Fraud
On June 22, 2020, The Supreme Court affirmed the Securities and Exchange Commission’s (“SEC’) ability to force defendants to forfeit money acquired through wrongdoing, but placed new limits on its disgorgement practice. The Supreme Court held in an 8-to-1 decision...
Bankruptcy Fraud: New Wave of Prosecutions
The affect of the COVID-19 pandemic has undoubtedly disrupted businesses across the nation and has caused financial instability, which will lead to an unprecedented amount of bankruptcy filings. It is foreseeable that there will also be an uptick in bankruptcy fraud...
The FIRREA Whistleblower
Whistleblowers can bring claims under the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (“FIRREA”) pursuant to a companion statue, the Financial Institutions Anti-Fraud Enforcement Act. FIRREA imposes civil penalties if the government can prove,...
Market Manipulation/Fraud with FINRA on the Beat
The Financial Industry Regulatory Authority (“FINRA”) has seen a significant rise in market manipulation alerts and fraud reports during the COVID-19 pandemic. FINRA is working on improving coordination and transparency in its enforcement efforts as well as its use...
Opinion: Make the independent police oversight board actually independent
Houston Chronicle Opinion Houston will benefit by embracing an effective, strong and visible Independent Police Oversight Board that keeps its police department accountable to the people. Accountability and transparency are necessary to maintain a responsive police...
COVID FRAUD UPDATE: Hollywood Film Producer Charged with COVID-19 Fraud
A Hollywood producer is the latest in a string of arrests made in the U.S. Justice Department’s efforts to locate and prosecute COVID-19 fraud. William Sadleir of Beverly Hills is accused of making false statements on his Payroll Protection Program application and...
School Investigations: New Title IX (9) Rules Issued
Education Secretary Betsy Devos issued final rules, which will take effect on August 14, 2020, for how colleges and K-12 schools must address allegations of sexual misconduct. The new regulation bolsters due process procedural protections of the accused, narrows the...
Texas Man Charged with COVID-19 Loan Fraud
The Eastern District of Texas U.S. Attorney’s Office has charged a Texas man by federal criminal complaint with bank fraud, wire fraud, false statements to financial institution and false statements to the Small Business Administration (SBA). According to the...
