February 2025 - cypherpunks - lists.cpunks.org

Fintech Group Of The Year: Sullivan & Cromwell
by Gunnar Larson 18 Feb '25

18 Feb '25

Fintech Group Of The Year: Sullivan & Cromwell <https://www.law360.com/fintech/articles/2278714?nl_pk=31322029-63eb-4d40-ac…> By Emilie Ruscoe Sullivan & Cromwell LLP's fintech practitioners have been integral to its work on behalf of collapsed cryptocurrency exchange FTX, advised American Express on two significant technology company acquisitions and represented crypto industry associations in a legal battle that reversed certain U.S. Securities and Exchange Commission rulemaking, earning them a place among the 2024 Law360 Fintech Groups of the Year. Read full article » <https://www.law360.com/fintech/articles/2278714?nl_pk=31322029-63eb-4d40-ac…> | Save to favorites » <https://www.law360.com/fintech/articles/2278714?nl_pk=31322029-63eb-4d40-ac…>

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Fla. Crypto Operator Gets 2 Years In Prison For Wire Fraud
by Gunnar Larson 18 Feb '25

18 Feb '25

Fla. Crypto Operator Gets 2 Years In Prison For Wire Fraud <https://www.law360.com/capitalmarkets/articles/2297788?nl_pk=35f19b02-1b5d-…> By David Minsky A Florida federal judge sentenced a U.S. Air Force veteran and software developer to more than two years in prison on a wire fraud charge for soliciting more than $1 million from investors to pay for a cryptocurrency offering but using the funds to fuel a gambling addiction. Read full article » <https://www.law360.com/capitalmarkets/articles/2297788?nl_pk=35f19b02-1b5d-…> | Save to favorites » <https://www.law360.com/capitalmarkets/articles/2297788?nl_pk=35f19b02-1b5d-…>

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SEC Says Crypto Task Force Could Resolve Coinbase Case
by Gunnar Larson 18 Feb '25

18 Feb '25

SEC Says Crypto Task Force Could Resolve Coinbase Case <https://www.law360.com/capitalmarkets/articles/2298671?nl_pk=35f19b02-1b5d-…> By Aislinn Keely The U.S. Securities and Exchange Commission told the Second Circuit that its newly formed cryptocurrency task force effort may lead to a resolution in its enforcement case against Coinbase, warranting a brief delay to the regulator responding to the crypto exchange's bid for appellate review of whether securities laws apply to the transactions on its platform. Motion attached | Read full article » <https://www.law360.com/capitalmarkets/articles/2298671?nl_pk=35f19b02-1b5d-…> | Save to favorites » <https://www.law360.com/capitalmarkets/articles/2298671?nl_pk=35f19b02-1b5d-…>

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Convicted Email Scammer Must Return $1.5M To Victims
by Gunnar Larson 18 Feb '25

18 Feb '25

Convicted Email Scammer Must Return $1.5M To Victims <https://www.law360.com/capitalmarkets/articles/2298588?nl_pk=35f19b02-1b5d-…> By Grace Dixon A Connecticut federal judge has ordered Okechuckwu Valentine Osuji to pay $1.5 million in restitution to 16 individuals and business entities in a Valentine's Day order, after a jury found him guilty of operating a $6 million email fraud scheme. Order attached | Read full article » <https://www.law360.com/capitalmarkets/articles/2298588?nl_pk=35f19b02-1b5d-…> | Save to favorites » <https://www.law360.com/capitalmarkets/articles/2298588?nl_pk=35f19b02-1b5d-…>

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CFTC Taps Ex-Whistleblower Chief As Enforcement Head
by Gunnar Larson 18 Feb '25

18 Feb '25

CFTC Taps Ex-Whistleblower Chief As Enforcement Head <https://www.law360.com/capitalmarkets/articles/2298540?nl_pk=35f19b02-1b5d-…> By Jessica Corso The Commodity Futures Trading Commission's acting head announced the appointment of a new enforcement director, naming to the position a former federal prosecutor who recently was the agency's whistleblower chief. Read full article » <https://www.law360.com/capitalmarkets/articles/2298540?nl_pk=35f19b02-1b5d-…> | Save to favorites » <https://www.law360.com/capitalmarkets/articles/2298540?nl_pk=35f19b02-1b5d-…>

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There’s One Federal Investigative Agency that Neither Trump nor Elon Musk Can Touch: It Just Opened an Investigation into DOGE
by Gunnar Larson 18 Feb '25

18 Feb '25

https://wallstreetonparade.com/2025/02/theres-one-federal-investigative-age… By Pam Martens and Russ Martens: February 18, 2025 ~ Elon Musk The Government Accountability Office (GAO) turned 100 years old in 2021. For more than a century it has been doing the work that Elon Musk’s Department of Government Efficiency (DOGE) has been pretending to do, that is, competently root out fraud, waste and abuse in federal government programs without leaving a dangerous trail of chaos that threatens national security, personal privacy and the U.S. Constitution. If Elon Musk is sincerely interested in efficiency and government savings, why is he duplicating the work of the non-partisan GAO – while doing it in a grossly subpar and deeply conflicted manner? Thanks to two sitting U.S. Senators, the American people are going to get an investigation by the GAO into exactly what went down when DOGE accessed the U.S. Treasury’s payment system and gained access to highly confidential records of private American citizens. (Yesterday, the Associated Press and multiple media outlets reported that DOGE is about to access taxpayer records and bank records at the IRS.) On February 12, the GAO confirmed by written letter that it will pursue the request for an investigation made by Senator Elizabeth Warren (D-MA), Ranking Member of the Senate Banking Committee, and Senator Ron Wyden (D-OR), Ranking Member of the Senate Finance Committee, into how and why DOGE accessed the Treasury’s payment system. Wall Street On Parade had previously made an inquiry to the GAO as to whether the agency was safe from Elon Musk’s “woodchipper,” given that it was created by Congress and worked for Congress – not the Executive Branch. We received the following response from GAO: “GAO’s mission is to support Congress in carrying out its constitutional duties and GAO is a legislative branch agency. As the investigative arm of Congress, GAO examines how federal dollars are spent and how federal programs, policies, and operations work. “By statute, the U.S. Comptroller General and Head of GAO may only be removed by Congress through impeachment or a joint resolution of Congress, after notice and an opportunity for a hearing, and only for specific reasons. GAO employees are not part of the Executive Branch personnel system. By statute, GAO employees are part of GAO’s separate personnel system which provides for the Comptroller General to appoint, assign and remove employees.” According to the outstanding research and reporting on DOGE at Wired, Musk seems to be more interested in using the DOGE.gov website to generate traffic to his X (formerly Twitter) social medium platform, than he is in conducting himself in a non-conflicted, professional manner. Last Thursday, Wired reported this: “A WIRED review of the [DOGE.gov] page’s source code shows that the promotion of Musk’s own platform went deeper than replicating the posts on the homepage. The source code shows that the site’s canonical tags direct search engines to x.com rather than DOGE.gov. “A canonical tag is a snippet of code that tells search engines what the authoritative version of a website is. It is typically used by sites with multiple pages as a search engine optimization tactic, to avoid their search ranking being diluted. “In DOGE’s case, however, the code is informing search engines that when people search for content found on DOGE.gov, they should not show those pages in search results, but should instead display the posts on X.” After Musk promised for days to put DOGE’s “receipts” of savings on the DOGE.gov website, today that page shows $55 billion in savings thus far. The bulk of that appears to be from firing federal workers and canceling building leases, not fraud detection. New expenditures for the federal government are mounting as a result of DOGE, however, due to the reckless and chaotic manner in which Musk has moved fast and broken laws, according to law professors. Dozens of lawsuits have been filed against Musk and DOGE, which the federal government must now defend in court – perhaps for years – on the taxpayers’ dime. On February 13, the Attorneys General of 14 states filed a lawsuit against Musk, DOGE and Trump in U.S. District Court for Washington, D.C. In it they wrote: “Although our constitutional system was designed to prevent the abuses of an 18th century monarch, the instruments of unchecked power are no less dangerous in the hands of a 21st century tech baron. In recent weeks, Defendant Elon Musk, with President Donald J. Trump’s approval, has roamed through the federal government unraveling agencies, accessing sensitive data, and causing mass chaos and confusion for state and local governments, federal employees, and the American people. “Oblivious to the threat this poses to the nation, President Trump has delegated virtually unchecked authority to Mr. Musk without proper legal authorization from Congress and without meaningful supervision of his activities. As a result, he has transformed a minor position that was formerly responsible for managing government websites into a designated agent of chaos without limitation and in violation of the separation of powers.” That there is fraud, waste and abuse in federal government programs is not some epiphany handed down from the heavens to Elon Musk and Donald Trump. GAO has been reporting that fact every year for decades. As recently as April of last year, GAO reported that “annual federal losses due to fraud are estimated to be between $233 billion and $521 billion based on data from fiscal years 2018 through 2022….” The GAO report also notes, however, that “The estimated losses represent about 3 to 7 percent of average federal obligations for fiscal years 2018 through 2022” and these fraud losses “are generally in line with fraud estimates” by foreign governments, including studies from the United Kingdom’s Public Sector Fraud Authority. FacebookTwitterWhatsAppLinkedInEmail

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Ex-JPMorgan Atty Pleads Guilty To NYC Housing Fraud
by Gunnar Larson 18 Feb '25

18 Feb '25

Ex-JPMorgan Atty Pleads Guilty To NYC Housing Fraud <https://www.law360.com/legalethics/articles/2298518?nl_pk=87c9365b-e736-431…> By Elliot Weld A one-time Bronx, New York, prosecutor and former JPMorgan Chase & Co. assistant general counsel pled guilty along with two relatives to a scheme to fraudulently obtain affordable housing units and benefits, state investigators announced Friday. Read full article » <https://www.law360.com/legalethics/articles/2298518?nl_pk=87c9365b-e736-431…> | Save to favorites » <https://www.law360.com/legalethics/articles/2298518?nl_pk=87c9365b-e736-431…>

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Fla. Atty Disbarred After 'Serious Pattern Of Neglect'
by Gunnar Larson 18 Feb '25

18 Feb '25

Fla. Atty Disbarred After 'Serious Pattern Of Neglect' <https://www.law360.com/legalethics/articles/2298574?nl_pk=87c9365b-e736-431…> By Lynn LaRowe The Florida Supreme Court has permanently yanked the law license of former Sunshine State attorney Danialle Riggins for demonstrating a "serious pattern of neglect" with clients and other misconduct, including yelling at a judge during court. 2 documents attached | Read full article » <https://www.law360.com/legalethics/articles/2298574?nl_pk=87c9365b-e736-431…> | Save to favorites » <https://www.law360.com/legalethics/articles/2298574?nl_pk=87c9365b-e736-431…>

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DOJ Files Motion To Drop Adams Case After Prosecutors Exit
by Gunnar Larson 18 Feb '25

18 Feb '25

DOJ Files Motion To Drop Adams Case After Prosecutors Exit <https://www.law360.com/legalethics/articles/2298624?nl_pk=87c9365b-e736-431…> By Frank G. Runyeon The U.S. Department of Justice filed a motion to dismiss the corruption case against New York City Mayor Eric Adams, following a flood of resignations by government lawyers who defied a top DOJ official's orders to drop the charges for political reasons. 1 document attached | Read full article » <https://www.law360.com/legalethics/articles/2298624?nl_pk=87c9365b-e736-431…> | Save to favorites » <https://www.law360.com/legalethics/articles/2298624?nl_pk=87c9365b-e736-431…>

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Diddy, Jay-Z Rape Lawsuit Dropped Amid Legal Ethics Battle
by Gunnar Larson 18 Feb '25

18 Feb '25

Diddy, Jay-Z Rape Lawsuit Dropped Amid Legal Ethics Battle <https://www.law360.com/competition/articles/2298738?nl_pk=6e763a2a-9f82-44c…> By Rachel Scharf An anonymous woman dropped her New York federal court lawsuit accusing Sean "Diddy" Combs and Shawn "Jay-Z" Carter of raping a teenager together, claims that launched a bitter ethics feud between personal injury attorney Tony Buzbee and Jay-Z's lawyers at Quinn Emanuel Urquhart & Sullivan LLP. Notice attached | Read full article » <https://www.law360.com/competition/articles/2298738?nl_pk=6e763a2a-9f82-44c…> | Save to favorites » <https://www.law360.com/competition/articles/2298738?nl_pk=6e763a2a-9f82-44c…>

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