Law Offices of Marc Neff
Experienced and aggressive Philadelphia lawyer for defense of criminal charges.
Call 24/7 (215) 563-9800

Federal White Collar Crime

November 22, 2010

“Mini-Madoff” Sentenced to 14 Years in Prison

Florida hedge fund manager Arthur Nadel recently was sentenced to 14 years in prison, stemming from a $162 million Ponzi scheme. Nadel, 77, had pled guilty to 15 counts of securities fraud, mail fraud and wire fraud. According to prosecutors, Nadel had defrauded investors by falsely claming that he was a successful attorney and trader, only later to spend their money to furnish his lavish lifestyle. Nadel will serve his sentence at the same...

Continue reading "“Mini-Madoff” Sentenced to 14 Years in Prison" »

Posted by Marc Neff | Permalink | Email This Post

Posted in: Federal White Collar Crime

November 19, 2010

“Massive Frauds” on the Rise

An FBI official recently reported to the U.S. Senate Judiciary Committee that the bureau has uncovered “massive frauds” in its continuing effort to fight financial crime. Kevin Perkins, Assistant Director of the FBI’s Criminal Investigative Division, reported that new corporate fraud cases, including newly identified Ponzi schemes, are up by 111 percent. In addition, high-yield securities frauds have grown by more than 200...

Continue reading "“Massive Frauds” on the Rise" »

Posted by Marc Neff | Permalink | Email This Post

Posted in: Federal White Collar Crime

March 23, 2010

Supreme Court of the United States to ConsiderTwenty Year Old Political Corruption Law

The Honest Services Fraud statute, a tool used by prosecutors in political corruption cases over the past twenty years, may soon be voided or modified by the Supreme Court of the United States due to vagueness and over breadth. The Honest Services Fraud doctrine presumes that a public official owes a duty of honest service to the public who he or she represents. When that public service official breaches that duty by concealing a financial interest, and using the mail, telephone or email to do so, that politician can be prosecuted under the Honest Fraud Services statute, amongst other...

Continue reading "Supreme Court of the United States to ConsiderTwenty Year Old Political Corruption Law" »

Posted by Marc Neff | Permalink | Email This Post

Posted in: Federal White Collar Crime

September 9, 2009

United States Court of Appeals Rules Delaware’ Sports Betting Plan Violates Federal Law

A plan which would have allowed single-game betting on all major sporting events at Delaware’s three racetrack betting locations, beginning September 1st, was not allowed to take effect. The United States Court of Appeals for the Third Circuit ruled the plan a violation of a 1992 Federal Law. The Professional and Amateur Sports Protection Act of 1992 outlawed sports betting nationwide, with the exception of a few states. The Act allowed Nevada to continue licensed sports betting and also exempted the sports lotteries conducted by Oregon, Montana, and Delaware. The Act also provided a...

Continue reading "United States Court of Appeals Rules Delaware’ Sports Betting Plan Violates Federal Law" »

Posted by Marc Neff | Permalink | Email This Post

Posted in: Federal White Collar Crime

May 11, 2009

Third Circuit Follows Olhovsky Decision with another Pro-Defense Opinion in Tomko – Ruling a Lenient Sentence Is Not Unreasonable

One day following the Third Circuit’s precedential opinion in U.S. v. Olhovsky, the Court issued an en banc decision in the case of U.S. v. Tomko, again holding that a lenient, below-guidelines sentence is not unreasonable if supported by mitigating circumstances. In Tomko, the Defendant pled guilty to Federal tax evasion charges; stipulating to a tax loss of $228,557 for work performed on his own home but disguised as expenses to his company via false invoices. At sentencing the District Court looked to the sentencing guidelines which called for a prison term of twelve (12) to eighteen...

Continue reading "Third Circuit Follows Olhovsky Decision with another Pro-Defense Opinion in Tomko – Ruling a Lenient Sentence Is Not Unreasonable" »

Posted by Marc Neff | Permalink | Email This Post

Posted in: Federal White Collar Crime