Enron's collapse is generally viewed as a morality tale - the natural result of managerial greed, a clueless board, and feckless gatekeepers. But none of these aspects of the story clearly distinguishes Enron from other major firms during the bubble era of the late 90s. This material identifies...

With globalization, securities markets have become increasingly interconnected, and securities fraud frequently crosses borders, creating problems for national regulators seeking to deter and punish fraud. The United States' well-developed private enforcement mechanism for securities fraud is...

This black-letter publication (co-authored with Denis Chemla) provides an overview of the French law governing the tracking of assets by corporations that have been victims of a fraud committed by an employee. It presents, in a succinct manner, the legal challenges facing such corporations....

In explaining the concept of centre of main interests (COMI) within the UK Cross-Border Insolvency Regulations 2006 (CBIR), the Englush court in Re Stanford International Bank over-emphasised third-party ascertainability due to an apparent lack of appreciation of the different functions...

No other State is as vulnerable to Zappers as is the State of New Hampshire. Zappers and related software programming, Phantom-ware, facilitate an old tax fraud – skimming cash receipts. In this instance skimming is performed with modern electronic cash registers (ECRs). Zappers are a global...

This article provides support for a proposal to eliminate refund fraud in the U.S. by turning Forms W-2, and 1099 into self-certified/ self-authenticated tax documents. The proposal suggests that a “digital signature” of these documents should be taken after they are completed. The signature...

A circuit split exists regarding pharmaceutical fraud and whether or not consumers and third-party-payors can successfully prove proximate cause under civil RICO. The plaintiffs in these cases allege that they would not have paid for a drug had the manufacturer disclosed a known safety risk....

The American Bar Association (ABA) Standing Committee on Ethics and Professional Responsibility recently issued an advisory ethics opinion in which it found that a lawyer has an ethical duty to investigate when a client or prospective client tries to retain a lawyer for a matter that could be...