Women Criminal Defense Attorneys: No Bank too Big to Jail
Attorney General Eric Holder has seemingly thrown down the gauntlet regarding financial crime, stating recently that No Company is Too Big to Jail. There certainly seems to be enough ongoing investigative activity to support the statement. Some have characterized this new tough mentality as a way to make up for empty promises.
Meanwhile, Two Banking Giants are trying to convince the U.S to Go Easy on them as both banks negotiate potential guilty pleas that could have a far-reaching effect on the banks themselves as well as on the economy as a whole. Credit Suisse has been under investigation for years as it relates to the offering of tax shelters to US citizens, while BNP Paribas has been under investigation for doing business with countries that have been blacklisted. Just last week BNP executives and attorneys met at the Department of Justice in Washington D.C. to discuss a possible plea. Present were the three prosecutors involved in the case that included the head of the justice department’s criminal division, the US Attorney for Manhattan, and the Manhattan district attorney. One of our own, Sullivan and Cromwell partner Karen Patton Seymour shared a seat at the table with one of her partners, H. Rodgin Cohen, and Patrick Fitzgerald from Skadden.
In addition, Goldman Sachs, Credit Suisse and Barclays have all received letters from New York Attorney General Eric T. Schneiderman’s Office revealing an investigation into high speed trades. Holder has confirmed that the Justice Department is investigating these trades as a potential violation of insider trading laws. Goldman revealed that it was under investigation in a regulatory filing, which also disclosed that they have been under investigation for potential Foreign Corrupt Practices Act violations relating to their hiring practices abroad.
It seems to me that we are seeing a sign of what’s to come as the Government shifts their focus onto the banking industry. White collar criminal defense attorneys will have to remain as sharp and focused as ever – and let’s hope that we see more and more women attorneys participating in these landmark cases.